Notice of the Ministry of Supervision on Relevant Issues Concerning the Pilot RMB Settlement of Cross-border Trade

Supervision letter [2009] No.255

Guangdong Branch and Customs directly under it:

According to the decision of the 56th executive meeting of the State Council, the pilot projects of RMB settlement of cross-border trade in Shanghai, Guangzhou, Shenzhen, Gongbei and Dongguan will play a positive role in responding to the international financial crisis, maintaining the steady growth of foreign trade, promoting trade facilitation and steadily promoting the regionalization and internationalization of RMB. In order to ensure the smooth progress of the pilot project of RMB settlement of cross-border trade, the relevant customs clearance management measures are hereby reiterated as follows:

1. When an enterprise declares its export goods in RMB, it may not provide a foreign exchange verification form.

On July 1 2009, the People's Bank of China, the Bureau and relevant departments jointly issued Announcement [2009]No. 10 (see annex 1 for details), and promulgated and implemented the Administrative Measures for RMB Settlement of Cross-border Trade (hereinafter referred to as the Administrative Measures). According to Article 18 of the Administrative Measures, "RMB settlement of cross-border trade of pilot enterprises is not included in the management of foreign exchange write-off, and it is not necessary to provide foreign exchange write-off forms when handling customs declaration and tax refund (exemption) of export goods", all customs offices should allow pilot enterprises to declare export goods in RMB without providing foreign exchange write-off forms.

Two, enterprises can declare export goods in RMB across regions, and do not provide foreign exchange verification forms.

On July 16, 2009, the People's Bank of China, our bureau and the general offices of relevant departments jointly issued the Letter on Agreeing to the List of RMB Settlement Pilot Enterprises for Cross-border Trade (Yin Ban Han [2009] No.472) (see Annex 2 for details), and agreed to 92 RMB settlement pilot enterprises for cross-border trade recommended by Shanghai and 273 RMB settlement pilot enterprises recommended by Guangdong Province. Customs allow enterprises to declare export goods in RMB across regions without providing foreign exchange verification forms.

3. After consultation with the People's Bank of China, the Customs is not responsible for reviewing whether the import and export enterprises belong to the pilot scope, whether the pilot cities carry out RMB settlement, and the customs computer system does not logically control the specific pilot ports and enterprises; Commercial banks are responsible for examining whether enterprises can settle accounts in RMB in cross-border trade, and are responsible for the authenticity of the examination when handling relevant procedures; The People's Bank of China is responsible for controlling the RMB settlement pilot enterprises and overseas geographical scope, supervising and inspecting commercial banks, and feeding back the abnormal situation to our department.

Four, for cross-border trade RMB settlement currency is inconsistent with the settlement currency, by the people's Bank of China and the State Administration of foreign exchange to coordinate and solve, to ensure the timely issuance of loans.

If the customs has any problems in the implementation, please ask the General Administration for instructions in time.

I hereby inform you.

September 2009 16