The Measures for the Administration of the Entry and Exit of National Currency in People's Republic of China (PRC) refers to the regulation and management of the entry and exit of currency under the capital of individuals and enterprises. Through this regulation, the state can supervise and manage trade, investment, wages and other activities related to national financial stability and economic development. The law includes different provisions for resident individuals and non-resident individuals. For individual residents, in the foreign exchange business under capital, only two operations can be carried out, namely, purchase of foreign exchange and settlement of foreign exchange. Due to the limitation of quantity and use, it needs to be reviewed and approved by the bank. At the same time, there are corresponding regulations on bank settlement and foreign exchange cash. For non-resident individuals, foreign exchange business under capital shall be managed according to their identity and purpose. In addition, the Measures also stipulate the specific provisions and requirements for the remittance, borrowing and purchase of foreign exchange of domestic and foreign RMB funds, the transfer of domestic and foreign assets, and the foreign exchange receipt and payment of goods trade. These regulations and requirements are aimed at ensuring national economic security and financial stability, and ensuring the legitimacy and transparency of currency entry and exit.
What is the main purpose of the national currency entry and exit management measures? The main purpose of the Measures for the Administration of the Entry and Exit of National Currency in People's Republic of China (PRC) is to regulate and manage the entry and exit of currency and ensure national economic security and financial stability. Through the supervision and management of financial activities related to the national economy, foreign exchange risks and financial crises can be effectively prevented and resolved, and the status and interests of the country in global economic competition can be guaranteed.
In order to ensure national financial stability and economic security, the Measures for the Administration of the Entry and Exit of National Currency in People's Republic of China (PRC) are formulated. When conducting foreign exchange business under capital, bank settlement, foreign exchange spot exchange, foreign exchange remittance and other businesses, it is necessary to operate according to regulations to ensure the legality and transparency of currency entry and exit. Enterprises and individuals must abide by relevant regulations and requirements when carrying out related activities, otherwise they will bear corresponding legal responsibilities.
Legal basis:
Article 13 of the Measures for the Administration of the Entry and Exit of National Currency in People's Republic of China (PRC) requires domestic residents to hold documents recognized by the bank, and the amount of settlement in the name of individuals shall be subject to the documents, and the purpose of settlement shall conform to the provisions of the state.