In order to regulate the management of domestic bond issuance funds of overseas institutions, according to the Law of the People's Republic of China on the People's Bank of China and the Regulations of People's Republic of China (PRC) on Foreign Exchange Control, the relevant matters concerning domestic bond issuance of overseas institutions are hereby notified as follows:
1. The term "domestic issuance of bonds by overseas institutions" as mentioned in this Notice refers to the issuance of bonds by overseas institutions in accordance with the Interim Measures for the Administration of the Issuance of Bonds by Overseas Institutions in the National Inter-bank Bond Market (promulgated by the Ministry of Finance of the People's Bank of China [20 18]No. 16) and the Measures for the Administration of Corporate Bonds Issuance and Trading (OrderNo.1of the China Securities Regulatory Commission).
Two. The People's Bank of China, the State Administration of Foreign Exchange and its branches shall, in accordance with the law, supervise and manage the accounts, fund receipts and payments and exchange involved in the domestic issuance of bonds by overseas institutions.
Three. The State Administration of Foreign Exchange shall register and manage the domestic bond issuance funds of overseas institutions. Overseas institutions shall entrust domestic lead underwriters to handle relevant formalities on their behalf.
After the issuance of bonds has been approved, registered or filed, and before the initial issuance, an overseas institution shall entrust its domestic lead underwriter to register with the domestic banking financial institution (hereinafter referred to as the bank) that opened the relevant fund-raising account for the overseas institution, and submit the following materials:
(1) Registration Form of Basic Information on Domestic Bond Issuance by Overseas Institutions (Annex 1).
(two) the issuance of approval, registration or filing and other related documents.
(3) Prospectus or directional issuance agreement and other relevant documents.
The bank shall earnestly perform its duties, strictly examine the authenticity of the materials provided by overseas institutions, and properly keep the above materials. After a bank registers an overseas institution according to regulations, it shall feed back the business registration certificate stamped with the bank seal to the domestic lead underwriter of the overseas institution.
An overseas institution shall, within 20 working days after the issuance of each bond, entrust the domestic lead underwriter of the current period to update the registration information of the actual raised funds in the current bank with the Industrial and Commercial Registration Certificate and the Information Registration Form for Raising Funds from Domestic Issuance of Bonds by Overseas Institutions (Annex 2).
Four. An overseas institution shall open a special fund (RMB or/and foreign exchange) account for domestic bond issuance with the industrial and commercial registration certificate (hereinafter referred to as the special bond issuance account). If you open a RMB account, you can open a RMB bank settlement account or entrust its lead underwriter to open a custody account. The nature of the account is special deposit account.
The income range of the special account for bond issuance is: the funds raised by domestic bond issuance are included; Capital transfer for debt repayment and related taxes (taxes, expenses, etc.). ); Account interest income; Debt service income generated from issuing bonds to domestic institutions in accordance with regulations; Income from capital reduction, divestment, equity transfer, profits, dividends, etc. After the funds raised by issuing bonds are invested in China according to regulations; The funds in the accounts related to domestic bond issuance by the same overseas institution are transferred to each other; Other income stipulated by the People's Bank of China and the State Administration of Foreign Exchange.
The expenditure scope of the special account for issuing bonds is: the funds raised by issuing bonds are remitted or remitted abroad by purchasing foreign exchange; Pay or settle foreign exchange to pay the principal and interest of bond issuance and related taxes and fees; Issue bonds to raise funds and lend them to domestic institutions according to regulations; Remittance of debt service income generated from loans to domestic institutions or remittance of foreign exchange abroad; The funds raised by issuing bonds are invested in China as required; Remittance of capital reduction, divestment, equity transfer, profits, dividends and other income generated after investment in China or remittance of foreign exchange abroad; The funds in the accounts related to domestic bond issuance by the same overseas institution are transferred to each other; Other expenses stipulated by the People's Bank of China and the State Administration of Foreign Exchange.
5. The funds raised by domestic bond issuance by overseas institutions may be remitted abroad or reserved for domestic use, and the use of funds shall be consistent with the contents listed in the description documents of raised funds. Those reserved for domestic use shall be implemented in accordance with the regulations on direct investment and foreign debt management.
Encourage overseas institutions to issue bonds in China to raise funds for the cross-border receipt, payment and use of RMB.
6. Overseas institutions may handle foreign exchange derivatives business on their behalf through domestic financial institutions with RMB foreign exchange derivatives business qualifications according to the principle of actual transactions, and manage the exchange rate risks related to domestic bond issuance.
7. If an overseas institution repays the principal, interest and related taxes and fees of bonds issued in China, the funds can be remitted to the special account for bond issuance from abroad or in China. If the debt service funds need to be settled, it shall be carried out in accordance with the bond debt service plan.
Eight, the relevant banks should be in accordance with the measures for the administration of RMB bank settlement accounts (China People's Bank Order No.5 [2003]), the measures for the administration of RMB cross-border receipt and payment information management system (Yinfa [20 17] 126), the notice of the General Office of the People's Bank of China on improving the data submission process of RMB cross-border receipt and payment information management system (.
9. Domestic entities and domestic registration and settlement institutions involved in foreign-related receipts and payments in domestic bond issuance by overseas institutions shall, in accordance with this Notice and the Detailed Rules for the Implementation of Statistical Reporting of Balance of Payments through Banks (Huifa [2022] No.22) and the Guidelines for Statistical Reporting of Balance of Payments through Banks (20 19) (Huifa [2019] No.25) Timely and accurately implemented the Statistical System of Foreign Financial Assets, Liabilities and Transactions (Huifa [2021] No.36) and the Notice of the State Administration of Foreign Exchange on Printing and Distributing the Foreign Exchange Business Data Collection Specification of Financial Institutions (version 1.3) (Huifa [2022] 13).
Ten, the materials submitted by overseas institutions in accordance with this notice shall be in Chinese. If both Chinese and foreign versions are submitted, the Chinese version shall prevail.
1 1. An overseas institution that has issued bonds in China before the issuance of this notice and the duration of the bonds has not been registered, shall entrust its domestic lead underwriter to re-register in time with reference to the provisions of Article 3 of this notice.
Twelve, the people's Bank of China and the State Administration of foreign exchange shall be responsible for the interpretation of this notice.
Thirteen. This notice shall be implemented as of June 65438+ 10/day, 2023. The Notice of the General Office of the People's Bank of China (No.2214) and the Notice of the General Office of the People's Bank of China (No.2016) on the Cross-border RMB Settlement of RMB Bonds Issued by Overseas Institutions in China shall be abolished at the same time.