2. Enterprises with foreign investment shall, in principle, achieve self-balance of foreign exchange and implement measures for foreign exchange balance.
The Regulations on the Administration of Foreign Exchange relaxed the control over the overseas deposit of foreign exchange, and no longer required foreign exchange income to be repatriated. Instead, it is stipulated that the foreign exchange income of domestic institutions and individuals can be repatriated or deposited abroad in principle.
3. Strengthen the statistical monitoring of balance of payments and establish an emergency safeguard system for balance of payments.
(1) All economic transactions between China residents and non-China residents shall be declared to the State Administration of Foreign Exchange.
(2) The Regulations on Foreign Exchange Control requires financial institutions engaged in foreign exchange business to open foreign exchange accounts for customers in accordance with regulations and handle foreign exchange business through foreign exchange accounts.
(3) For customers who have sporadic foreign exchange receipts and payments, banks may not open foreign exchange accounts for them, but should handle foreign exchange receipts and payments for them through the "bank sporadic settlement and sale of foreign exchange on behalf of customers" account opened by banks in their own names.
4. Maintain the sovereign currency status of RMB.
The circulation of foreign currency is prohibited in People's Republic of China (PRC), and it is not allowed to be denominated and settled in foreign currency unless otherwise stipulated by the state. 1. Management of write-off of export proceeds. Foreign-invested enterprises should apply to the foreign exchange bureau for a verification form stamped with the seal of "foreign exchange collection supervision" before the declaration of export commodities, and the customs will clear the customs with the declaration number of the verification form. After the normal collection of foreign exchange, the enterprise shall go through the formalities of verification of export proceeds with the foreign exchange administration department on the basis of the verification form of export proceeds, settlement memo or collection notice and relevant supporting documents signed by the remittance bank.
2. Verification management of import payment of foreign exchange. Foreign-invested enterprises import goods from overseas (including patents, non-patented technologies and valuable samples related to imported goods), foreign exchange loans, deposits, balance payments and supporting trade expenses paid to overseas exporters, as well as patent payment and technology payment related to imported goods, which shall be written off by banks at the time of foreign exchange payment; Banks should write off the import payment of foreign exchange under the prepayment loan one by one according to the regulations.
3. Foreign exchange expenditure and repayment of principal and interest of foreign exchange debts under the capital of foreign-invested enterprises shall be approved by the foreign exchange administration department; The remittance of profits, dividends and bonuses of foreign investors, as well as the remittance of wages and other legitimate income of overseas Chinese, Hong Kong, Macao and Taiwan employees, shall be paid from their foreign exchange accounts in designated foreign exchange banks on the basis of resolutions of the board of directors, tax payment certificates and relevant vouchers.
4. The settlement between foreign-invested enterprises and domestic units and individuals shall be denominated in RMB. 1. Enterprises with foreign investment may borrow foreign exchange funds from domestic banks or directly from overseas banks or enterprises according to their business needs. The borrower shall go to the foreign exchange administration department to handle the foreign debt registration certificate within 10 days after the formal signing of the contract. The principle of self-borrowing and self-repayment is applied to loans. The principal and interest of an enterprise can be repaid directly with foreign exchange income, or it can be purchased in the swap market after approval by the foreign exchange administration department.
2. When a foreign-invested enterprise borrows money from a domestic bank, the bank has the right to require the enterprise to provide credit guarantee or mortgage guarantee.
3. Foreign-invested enterprises that raise funds abroad and are guaranteed by financial institutions and non-financial enterprises with foreign exchange sources approved by the State Administration of Foreign Exchange shall be included in the scale of the national plan for utilizing foreign capital. To provide guarantee for a wholly foreign-owned enterprise, it is necessary to have equivalent foreign exchange assets as collateral. No guarantee shall be provided for the registered capital of foreign investors, and no external guarantee shall be provided by government agencies. 1. The foreign exchange income of foreign-invested enterprises can be kept in cash, and the foreign exchange trading of enterprises is still handled through the foreign exchange swap market. All normal foreign exchange earnings of an enterprise can be sold in the market. The normal production and operation, debt service and dividend distribution of an enterprise should be paid from the balance of its cash account first, and an application can be made to the foreign exchange management department when the account funds are insufficient. The foreign exchange administration department examines its entry qualification. Enterprises whose foreign capital is not in place, not sold back as stipulated in the contract, and not localized as scheduled are generally not allowed to enter the market. Those who meet the requirements can enter the market to buy.
2. RMB profits shared by foreign-invested enterprises from foreign-invested enterprises with unbalanced foreign exchange receipts and payments can be converted into capital increase or new investment of this enterprise or other enterprises after approval by the foreign exchange administration department, and enjoy the same treatment as foreign exchange investment. All registered foreign-invested enterprises shall submit relevant statements according to the following requirements.
1. Report on foreign exchange receipts and payments, which is a semi-annual report. The report for the first half of this year shall be submitted before July 10 every year, and the report for the whole year of last year shall be submitted before March 10 every year with written explanation.
2. Year-end financial statements: It is required to submit the year-end financial statements of the previous year before March 3 1 every year, and attach the audit report of certified public accountants in People's Republic of China (PRC).