Chapter I General Provisions Article 1 These Regulations are formulated for the purpose of strengthening foreign exchange control, maintaining the balance of international payments and promoting the healthy development of the national economy. Article 2 The foreign exchange administration department of the State Council and its branches (hereinafter referred to as the foreign exchange administration department) shall perform their foreign exchange administration duties according to law and be responsible for the implementation of these Regulations. Article 3 Foreign exchange as mentioned in these Regulations refers to the following means of payment and assets expressed in foreign currencies that can be used for international settlement:

(1) Foreign currencies, including banknotes and coins;

(2) Foreign currency payment vouchers, including bills, bank deposit vouchers and postal savings vouchers;

Foreign currency securities, including government bonds, corporate bonds and stocks;

(4) Special Drawing Rights and European Monetary Units;

(5) Other foreign exchange assets. Article 4 These Regulations shall apply to the foreign exchange receipts and payments or business activities of domestic institutions, individuals, institutions in China and personnel coming to China. Article 5 The State does not restrict regular international payments and transfers. Article 6 The State implements a system of statistical declaration of international payments. All units and individuals with international payments activities must make a statistical declaration of international payments. Article 7 Within the territory of People's Republic of China (PRC), the circulation of foreign currency is prohibited, and foreign currency pricing and settlement are not allowed. Article 8 Any unit or individual has the right to report and expose acts and activities that violate foreign exchange control.

Units and individuals who have rendered meritorious service in reporting, exposing or assisting in investigating and handling cases of violation of foreign exchange control shall be rewarded by the foreign exchange control authorities and shall be responsible for confidentiality. Chapter II Current Account Foreign Exchange Article 9 The current account foreign exchange income of domestic institutions must be repatriated to China, and foreign exchange may not be deposited abroad without authorization in violation of relevant state regulations. Article 10 The current account foreign exchange income of domestic institutions shall be sold to designated foreign exchange banks in accordance with the regulations of the State Council on the administration of settlement, sale and payment of foreign exchange, or a foreign exchange account shall be opened with the designated foreign exchange banks upon approval. Article 11 Domestic institutions shall, in accordance with the State Council's regulations on the administration of settlement, sale and payment of foreign exchange, purchase and pay foreign exchange from designated foreign exchange banks with valid vouchers and commercial documents. Article 12 Domestic institutions shall go through the formalities of verification of export proceeds in accordance with the provisions of the State on the management of verification of export proceeds and verification of import payments. Article 13 Foreign exchange owned by individuals may be held by themselves, deposited in banks or sold to designated foreign exchange banks.

Personal foreign exchange savings deposits should follow the principles of voluntary deposit, freedom of withdrawal, interest-bearing deposit and confidentiality for depositors. Article 14 Individuals shall purchase foreign exchange for their own use within the prescribed limits. Individuals who exceed the prescribed limit shall apply to the foreign exchange bureau for private use, and the foreign exchange bureau may purchase foreign exchange if it considers its application to be true.

Individuals carrying foreign exchange into or out of the country shall go through the declaration formalities with the customs; Those who carry foreign exchange out of the country in excess of the prescribed limit shall also issue valid certificates to the customs. Article 15 After an individual leaves the country, the income generated by his domestic assets can be remitted or taken out of the country by purchasing foreign exchange from the designated foreign exchange bank with the required certification materials and valid vouchers. Article 16 Foreign exchange assets, such as foreign currency payment vouchers and foreign currency securities, held by domestic China citizens shall not be carried or mailed out of the country without the approval of the foreign exchange administration. Article 17 If the lawful RMB income of domestic institutions and personnel needs to be remitted abroad, they can pay it at the designated foreign exchange bank with relevant certification materials and vouchers. Article 18 Foreign exchange remitted or brought into China by institutions and personnel in China may be kept, deposited in banks or sold to designated foreign exchange banks, or remitted or taken out of the country with valid certificates. Chapter III Foreign Exchange under Capital Account Article 19 Unless otherwise stipulated by the State Council, the foreign exchange income of domestic institutions under capital account shall be repatriated to China. Article 20 A domestic institution shall open a foreign exchange account with a designated foreign exchange bank in accordance with the relevant provisions of the State. The sale of foreign exchange to designated foreign exchange banks must be approved by the foreign exchange administration. Article 21 Before applying to the competent authorities for examination and approval, domestic institutions shall examine the sources of foreign exchange funds. After approval, the relevant funds shall be remitted in accordance with the Regulations of the State Council on the Administration of Foreign Exchange for Overseas Investment. Article 22 Borrowing foreign loans shall be handled by the government departments designated by the State Council and the financial institutions and enterprises approved by the foreign exchange administration department of the State Council in accordance with the relevant provisions of the state.

Foreign-invested enterprises borrowing foreign loans shall file with the State Administration of Foreign Exchange. Twenty-third financial institutions to issue foreign currency bonds abroad, must be approved by the foreign exchange administration department of the State Council, and in accordance with the relevant provisions of the state. Article 24 The provision of external guarantees can only be handled by financial institutions and enterprises that meet the conditions prescribed by the state and must be approved by the foreign exchange bureau. Article 25 The State practices a foreign debt registration system.

Domestic institutions shall register their foreign debts in accordance with the Regulations of the State Council on Statistics and Monitoring of Foreign Debts.

The foreign exchange administration department of the State Council is responsible for the national foreign debt statistics and monitoring, and regularly publishes the foreign debt situation. Article 26 After a foreign-invested enterprise is terminated according to law, and after liquidation and tax payment are carried out in accordance with the relevant provisions of the state, the RMB owned by foreign investors can be remitted or taken out of the country by purchasing foreign exchange from designated foreign exchange banks; All foreign exchange owned by China investors shall be sold to designated foreign exchange banks.