Announcement of the People’s Bank of China
[2011] No. 23
For the purpo of further expanding the utilization of RMB in cross-border trade and investment, regulating banks and foreign investors to handle RMB ttlement in foreign direct investment, the People’s Bank of China has formulated the Measures for the Administration on RMB Settlement in Foreign Direct Investment, which is hereby promulgated, and shall take effect.
People’s Bank of China
October 13, 2011 Measures for the Administration on RMB
Settlement in Foreign Direct Investment
Chapter I General Provisions
Article 1For the purpo of expanding the scope of application of RMB in cross-border trade and investment and regulating the financial institutes in the banking industry (hereinafter referred to as banks) to handle RMB ttlement in foreign direct investment, in accordance with the Law of the Peopl
凤凰花开的季节e’s Bank of China of the People’s Republic of China, the Administrative Measures for the RMB Bank Settlement Accounts (Decree of the People’s Bank of China [2003] No. 5) and related laws, administrative regulations and rules, the Measures shall hereby be formulated.
Article 2Banks handling RMB ttlement in foreign direct investment shall be subject to the Measures.
Article 3Any foreign enterpri, economic organization or individual (hereinafter referred to as foreign investor) investing withinChina in RMB should abide by laws and regulations of the People’s Republic of China on foreign direct investment.
Article 4The People’s Bank of China shall, in accordance with the Measures, execute administration on RMB ttlement in foreign direct investment.
关于鼠的成语Chapter II Business Process
Article 5Any foreign investor may in accordance with the Administrative Measures for RMB Bank Settlement Accounts and the Administrative Measures for RMB Bank Settlement Accounts for Foreign Institutes (Yin Fa [2010] No. 249) apply for the opening RMB bank ttlement account for for
eign institutes in handling RMB ttlement in foreign direct investment. And for the early-stage RMB costs fund related to investment project and the RMB capital gained through distribution of profits, liquidation, reduction of capital, transfer of equity and recovery of investment ahead of time for reinvestment within China should in the principle of special account for special purpo be opened special deposit account for the
early-stage RMB costs and the one for RMB reinvestment respectively, which shall not handle cash receipt and payment business.
Article 6Banks should handle payment of the early-stage costs to the RMB bank ttlement account within China after examining and reviewing such materials as payment command letter, capital purpo specification and capital utilization commitment letter. The rest early-stage costs should be transferred to the special deposit account for RMB capital fund opened according to Article 8 of the Measures or refunded after the foreign investment enterpri is established.煮粥要多久
Article 7The foreign investment enterpri (inclusive of the newly-established and merged and acquired)should within 10 working days upon receiving the business licen apply to the branch of the People’s Bank of China where it is registered for handling the registration of enterpri information with the following materials.
（I）copies of certificate of approval for foreign investment enterpri;
（II）duplicate of the business licen and organization institution code certification.
魏桓子
Foreign investment partnership shall not submit the materials as mentioned in （I）.
The branch of the People’s Bank of China where the foreign investment enterpri is registered should complete the formalities of enterpri information registration within 10 working days upon receiving the application materials.
Where the alterations of the name, operating period, contribution mode, partners, joint venture and cooperation mode and other basic information of the registered foreign investment enterpri, or material alterations of increa of capital, decrea of capital, equity transfer or replacement, merger or division ari, it should within 15 working days upon altering registration or filing in the industrial and commercial administration report and submit the aforesaid alterations to the branch of the People’s Bank of China where it is registered.
Article 8Any foreign investment enterpri should in accordance with the administrative provisions for bank ttlement accounts including the Administrative Measures for RMB Bank Settlement Accou
nts submit the business licen and other materials to apply for the opening RMB bank ttlement account. And the RMB registered capital remitted inward or RMB contribution by foreign investor should in the principle of special account for special purpo be opened special deposit account for RMB capital fund, which shall not handle cash receipt and payment business.
Where any foreign investor merges and acquires the domestic enterpri in RMB to establish the foreign investment enterpri, Chine shareholders of the merged and acquired domestic enterpri should in accordance with the provisions for the administration over bank ttlement accounts including the Administrative Measures for RMB Bank Settlement Accounts apply for opening the special deposit account for
RMB merger and acquisition specially for the deposit of the RMB merger and acquisition capital remitted inward by foreign investor, which shall not handle cash receipt and payment business.
Where any foreign investor makes equivalent payment to Chine shareholder of foreign-funded enterpri abroad for equity transfer in RMB, Chine shareholder should in accordance with the provisions for the administration over bank ttlement accounts including the Administrative Measures for RMB Bank Settlement Accounts apply for opening the special deposit account for RMB
equity transfer specially for the deposit of the equivalent payment for RMB equity transfer remitted inward by foreign investor, which shall not handle cash receipt and payment business.
Article 9Any foreign investor should submit the related materials approved or filed by the national departments concerned in handling inward remittance of foreign RMB investment capital. Banks should conduct careful examination and verification and may enter the cross-border RMB payment information management system for related information.
For foreign investment enterpri in the real estate handling the inward remittance of RMB capital fund for foreign direct investment, banks should also log on the website of the Ministry of Commerce to verify whether the enterpri has been filed in the Ministry of Commerce.
Article 10Any foreign investment enterpri should in accordance with related provisions entrust an accounting firm to conduct capital verification and confirmation of the paid-in situation of the registered capital, contribution and RMB capital in equity paid by foreign investor. The accounting firm may issue the capital verification report after conducting the capital verification and confirmation on the bank of deposit.
The bank of deposit should actively coordinate with the accounting firm, carefully check related data,
specify the signature of opinion, affix the special al with legal proof effectiveness upon receiving the confirmation letter of the bank, and make a reply within 5 working days upon the receipt of the letter.
Article 11The bank should in accordance with the related administrative provisions for foreign direct investment supervi foreign investment enterpri to u the RMB capital fund by law, review the capital payment handled through the special deposit account for RMB capital fund, and shall not handle the foreign payment of RMB capital for the special deposit account for RMB capital fund without completing the formalities of capital verification.好看的动态图片
Article 12Where any foreign investor remits the RMB profits abroad, the bank may directly handle it after examining and checking the resolutions related to profits disposition, tax certificate and other related materials of the foreign investment enterpri.
Article 13Where any foreign investor remits the RMB capital gained through decrea of capital, equity transfer, liquidation and recovery of investment ahead of time abroad, the bank should handle the formalities of RMB capital remittance after examining and checking the approval or filing documents of the related national departments and tax certificate.
Article 14Where any foreign investor us the RMB capital gained through distribution of RMB profits, recovery of investment ahead of time, liquidation, decrea of capital and equity transfer to reinvest or increa registered capital within China, it may deposit the RMB capital in the special account for RMB reinvestment and handle related ttlement in accordance with the Measures. The bank should handle the foreign payment of RMB capital after examining and checking the approval or filing documents of the related national departments and tax certificate.
Article 15Where the foreign investment company, the foreign investment venture capital investment enterpri, foreign-owned investment enterpri and foreign investment partnership with investment as main business conduct investment business in RMB within China by law, its investment enterpri should in accordance with the administrative provisions for bank ttlement accounts including the Administrative Measures for RMB Bank Settlement Accounts apply for opening the special deposit account for RMB capital fund for RMB registered capital or contribution capital and to handle related capital ttlement business, which shall not handle the cash receipt and payment business.
Article 16Where any foreign investor us RMB capital and foreign currency capital to make contributions simultaneously, the bank should in accordance with the Measures handle the formalitie
s of RMB capital ttlement and foreign exchange capital ttlement according to related administrative provisions for foreign exchange. And the conversion exchange rate RMB and foreign currency is the central parity of RMB relead by the People’s Bank of China on the day of registration and capital verification.
Article 17The total scale of the foreign investment enterpri should be subject to aggregative calculation when conducting RMB lending and foreign exchange lending to foreign shareholders, affiliated enterpris in the group and foreign financial institutions.
Article 18Any foreign investment enterpri should in accordance with Article 12 of the Administrative Measures for RMB Bank Settlement Accounts hold the RMB loan contract to apply for opening the general deposit account of RMB specially for the deposit of the RMB capital borrowed from abroad.
Article 19The bank should review the registered capital of RMB of the foreign investment enterpri and authenticity and compliance of the purpo of RMB borrowing capital and supervi the foreign investment enterpri to utilize RMB capital by law. And in handling the ttlement, the bank should in accordance with
火属性的字
the provisions related to prudential supervision require the enterpri to submit such materials as pa
yment command letter and capital purpo certification and conduct careful examination and verification.
希望有一天Article 20Where any foreign investment enterpri us RMB to compensate for the principal and interests of the foreign RMB borrowing, it may hold the loan contract, payment command letter and tax certificate to directly handle it in the bank.
Chapter III Supervision and Administration
Article 21The bank should carefully fulfill the duty of information submission to submit timely, accurately and completely to the cross-border RMB ttlement management system the information of the RMB bank ttlement account for foreign institutions opened according to the Measures by law, special deposit account for RMB capital fund, special deposit account for RMB merger and acquisition, special deposit account for RMB equity transfer and the general deposit account of RMB as well as the information of handling cross-border and domestic receipt and payment of RMB capital through the above-mentioned accounts.
Article 22The bank should in accordance with the administrative provisions for bank ttlement accounts including the Administrative Measures for RMB Bank Settlement Accounts, the Implementi
ng Rules of the Administrative Measures for RMB Bank Settlement Accounts (Yin Fa [2005] No. 16) and the Administrative Measures for RMB Bank Settlement Accounts for Foreign Institutions handle the RMB bank ttlement account business for such depositors as foreign investors, foreign investment enterpris, and Chine shareholders.
Article 23The bank and foreign investment enterpri should in accordance with the Measures for the Declaration of Balance of Payment Statistics and other related provisions to handle the declaration of the balance of payment in handling RMB ttlement in foreign direct investment.暗杀电影
Article 24The bank should in accordance with the Anti-money-laundering Law of the People’s Republic of China and related provisions of the People’s Bank of China practically perform the obligation of anti-money laundering and anti-terrorist financing and prevent the illegal criminal activities of utilizing RMB ttlement in foreign direct investment to conduct money laundering and terrorist financing in handling the business of RMB ttlement in foreign direct investment, and also collect the anti-money laundering and anti-terrorist financing information where the foreign investor is domiciled, know about the natural person actually controlling investment and the true beneficiary of investment, evaluate the risks of money laundering and terrorist financing of investment and adopt proper measures of risk management.
Article 25The People’s Bank of China and related departments shall establish the necessary information-sharing and management mechanism, intensify the strength of after-event inspection and effectively supervi and manage the RMB ttlement in foreign direct investment.
