Payment export operation flow

Export by payment of foreign exchange means that enterprises without export rights buy other people's verification forms and export them in the name of other import and export companies for the convenience of shippers. However, foreign trade companies can't receive money at all. On the premise of getting the customer, foreign exchange is still remitted to the account designated by the shipper, which is called paying the bill.

China's foreign exchange control requires those who export to get their dollars back for write-off. For example, if I export with the verification form of company A, company A must recover the corresponding US dollars. However, if the export pays the bill, the US dollar will not be remitted to the foreign trade company that provides the verification form at all, which will cause foreign exchange confusion. If you export with the verification form of Company A and remit the US dollars to Company A, it is an affiliate (export agent), which is a proper operation. This is the difference between agent export and bill export.

At this time, on Capitol Hill on the other side of the ocean, the U.S. House of Representatives is preparing a comprehensive trade proposal with China focusing on the RMB exchange rate, so as to "force" China to change the trade imbalance between China and the United States.

Verification form of industrial chain

There are two kinds of verification forms, one is the verification form of export receipt and the other is the verification form of import payment. The verification form is provided free of charge by the State Administration of Foreign Exchange. Export enterprises can declare their exports to the customs after applying for this form from the State Administration of Foreign Exchange. The State Administration of Foreign Exchange supervises the import and export of foreign exchange involved in each import and export business through the foreign exchange verification system.

Not every enterprise that wants to export can get the list. Must have import and export qualifications, be registered in the customs, have an electronic port system and at least have a foreign exchange account. However, to obtain import and export qualifications, it takes a long time and complicated procedures to go through formalities in many departments such as the Bureau of Commerce, the Taxation Bureau, the Customs, the electronic port and the safe.

This provides a market for write-off business. The registered company has obtained thousands of write-offs, and the next step is to find a buyer. This is an effortless link. Except for some enterprises and individuals without import and export rights, a large number of freight forwarders, logistics enterprises and customs brokers need verification forms to attract customers. Due to the complexity of obtaining documents, customs declaration and verification, export enterprises generally let logistics, freight forwarding companies and customs brokers handle these businesses on their behalf.

For example, some foreigners in Hong Kong and Macao hold a large amount of RMB. In order to use the money, they went to Chinese mainland to buy small commodities. Because the goods can't pass the customs, they will entrust the freight forwarding logistics company to buy the verification form for them.

Strong demand created a huge seller's market. In this black market, the price of the verification form is mainly based on the export amount. "If the customs declaration amount is large, the price of $50,000 and $60,000 will be higher, and the price of1.20,000 will be lower. In addition, it depends on whether the supply of verification forms in the market was tight at that time.

A trade storm on a piece of paper

As far as the write-off list is concerned, the profit amount is not large. The profit of a scalping gang ranges from hundreds of thousands to millions of yuan, but the export behind it may be tens of millions or even hundreds of millions of dollars.

Hot money through trade channels needs a verification form to enter the country. If the write-off list is resold out of control, it will cause a lot of false transactions. Reselling the verification form will lead to capital flight or disguised capital inflow. In China's huge trade surplus, some of it is untrue, because there are some evasion behaviors such as reselling verification forms.

In these false trades, some enterprises that go to SAFE for verification can also get government export incentives. The part that has not been written off occupies a seat in trade statistics.