Article 17 A trust company shall apply to the State Administration of Foreign Exchange for the amount of foreign exchange payment for investment when handling entrusted overseas wealth management business. Trust companies directly supervised by the CBRC shall submit application materials directly to the State Administration of Foreign Exchange. Trust companies supervised by the local banking regulatory bureau shall submit application materials to the local branches, foreign exchange management departments, central branches and sub-branches of the State Administration of Foreign Exchange (hereinafter referred to as the foreign exchange bureau), and submit them to the State Administration of Foreign Exchange for examination and approval after preliminary examination.

Within the scope of investment payment approved by the State Administration of Foreign Exchange, trust companies can recommend to investors a collective trust plan entrusted with overseas financial management in RMB or foreign currency. The accumulated net remittance of a trust company shall not exceed the amount of foreign exchange payment for investment approved by the State Administration of Foreign Exchange.

Article 18 A trust company shall apply to the State Administration of Foreign Exchange or the local foreign exchange bureau for the amount of foreign exchange payment for investment with the following documents:

(1) application. The application includes but is not limited to the basic information of the applicant, the amount of foreign exchange payment to be applied for, a single entrusted overseas financial trust product or a collective entrusted overseas financial trust plan, etc.

(2) The business qualification approval document of China Banking Regulatory Commission.

(3) Draft trusteeship agreement.

(4) Draft trust documents to be signed with the trustor. The draft should include the rights and obligations, interests and risks of both parties.

(5) Other documents required by the SAFE.

SAFE shall, within 20 working days from the date of receiving the complete application documents, give a reply of approval or disapproval, notify the applicant in writing, and send a copy to China Banking Regulatory Commission and the local banking regulatory bureau.

Article 19 A trust company may take effective measures to hedge and manage the exchange rate risks arising from entrusting overseas financial management by means of forward settlement of foreign exchange.