Chapter I General Provisions Article 1 These Measures are formulated to improve the management of foreign exchange accounts of foreign-invested enterprises (hereinafter referred to as enterprises), standardize the opening and use of foreign exchange accounts, and facilitate the normal operation of enterprises. Article 2 The term "enterprises" as mentioned in these Measures refers to Chinese-foreign equity joint ventures, Chinese-foreign cooperative ventures and foreign-funded enterprises established in China. Article 3 The foreign exchange accounts mentioned in these Measures refer to the "basic foreign exchange accounts" and "special foreign exchange accounts" opened by enterprises in domestic financial institutions (including foreign-funded banks, hereinafter referred to as "opening banks") approved by the State Administration of Foreign Exchange to engage in foreign exchange business. Article 4 The term "foreign exchange basic deposit account" as mentioned in these Measures refers to an account with current account as its income source and used for expenditure under current account and approved capital account; "Special foreign exchange account" refers to an account with a specific income and expenditure range, including capital account, special foreign debt account, special foreign debt-to-loan account, special debt service account and special foreign exchange loan account of domestic financial institutions. Article 5 The State Administration of Foreign Exchange and its branches (hereinafter referred to as foreign exchange bureaus) are the administrative organs of foreign exchange accounts of enterprises. Chapter II Opening an Account Article 6 An enterprise shall open a foreign exchange account in the bank where it is registered with the Foreign Exchange Registration Certificate for Foreign-invested Enterprises and related materials issued by the foreign exchange bureau; Different types of foreign exchange accounts can open sub-accounts in different currencies. Article 7 An enterprise shall open a special fund account with the notice of opening an account from the foreign exchange bureau.

Without the approval of the foreign exchange bureau, you can only choose the designated foreign exchange bank where you are registered to open a basic foreign exchange account. Opening a basic foreign exchange account shall be handled by the notice of opening an account issued by the foreign exchange bureau. Article 8 An enterprise may open a special account for foreign debt, foreign debt-to-loan or foreign exchange loan in a domestic financial institution with the Foreign Debt Registration Certificate or Foreign Exchange (Sub-loan) Registration Certificate issued by the foreign exchange bureau. Article 9 An enterprise may open a special account for foreign debt, foreign debt-to-loan or foreign exchange loan servicing of domestic financial institutions with the Notice of Opening an Account for Debt Service and Interest Payment issued by the foreign exchange bureau. Article 10 If an enterprise really needs to open a basic foreign exchange account and a special foreign exchange account in a different place due to business, it may apply to the foreign exchange bureau where it is registered, and file with the foreign exchange bureau where it is registered with the approval document of the foreign exchange bureau. After being approved and sealed by the foreign exchange bureau at the place where the account is opened, the account can be opened in the bank. Article 11 After a bank opens a foreign exchange account for an enterprise, it shall indicate the name, currency, account number and date of opening the account in the corresponding column of the Foreign Exchange Registration Certificate for Foreign-invested Enterprises, and affix the bank seal. Chapter III Use of Accounts Article 12 With the approval of the foreign exchange bureau, the basic foreign exchange account can handle current account receipts and expenditures and capital account expenditures. Article 13 The income of the special account for foreign exchange funds is limited to the capital invested by enterprise investors in cash, and the expenditure is limited to the current account expenditure and the capital account expenditure approved by the foreign exchange bureau. Article 14 The income of the special loan account can only be the foreign debt borrowed by the enterprise, the foreign debt transferred to the loan or the foreign exchange loan of domestic financial institutions, and the expenditure is limited to the foreign exchange payment related to the loan purpose. Article 15 An enterprise may deposit its foreign exchange income into a special account for servicing the principal and interest, or purchase foreign exchange with the principal and interest repaid within three months in RMB and deposit it into the account. The expenditure of the debt service account is limited to the repayment of foreign debt, foreign debt lending or foreign exchange loans from domestic financial institutions. Article 16 The foreign exchange income of the current account of an enterprise shall be within the maximum amount of the account approved by the foreign exchange bureau, and the foreign exchange exceeding the approved amount must be sold to the designated foreign exchange banks.

The State Administration of Foreign Exchange adjusts and announces the basic deposit account ceiling according to the actual investment of foreign-invested enterprises and the needs of current account foreign exchange fund turnover and the monetary policy of the People's Bank of China. Article 17 An enterprise shall use foreign exchange accounts in accordance with the categories of accounts, the scope of income and expenditure, the term of use and the maximum amount approved by the foreign exchange bureau. The foreign exchange receiving bank may temporarily transfer the foreign exchange exceeding the maximum basic deposit account limit of the enterprise into the account, and notify the enterprise to handle the settlement of foreign exchange within 5 working days. If it is not handled within the time limit, the bank opening the account shall report to the foreign exchange bureau in a timely manner. Article 18 When an enterprise makes external payments from a foreign exchange account, the opening bank shall examine the valid vouchers and commercial documents in accordance with the provisions on the administration of settlement, sale and payment of foreign exchange in the pilot areas. Chapter IV Account Management Article 19 Enterprises and deposit banks shall open and use foreign exchange accounts in accordance with these Measures. Foreign exchange accounts shall not be leased, lent or used in series. Article 20 Foreign exchange accounts in different places shall be subject to territorial supervision by the foreign exchange bureau where the account is opened, and the income and expenditure of basic foreign exchange accounts in different places shall be reported quarterly to the foreign exchange bureau where the account is registered. The maximum amount of basic foreign exchange accounts in different places shall be approved by the foreign exchange bureau at the place of registration. Article 21 If an enterprise needs to change its bank account during the operation period, it shall apply to the foreign exchange bureau and go through the transfer formalities only after approval. Article 22 After the foreign exchange funds in the special account for enterprise capital have been used up, the opening bank shall go through the formalities of closing the account. Twenty-third after the use of foreign exchange loans or the expiration of the term stipulated in the loan contract, the opening bank shall handle the cancellation procedures for the special account for foreign exchange loans and debt service for enterprises.