Hui Fa [2007] No. 35
All the branches of the State Administration of Foreign Exchange in all provinces, autonomous regions, municipalities, foreign exchange administration authorities, Shenzhen, Dalian, Qingdao, Ningbo, the commerce authorities in all provinces, autonomous regions, municipalities, and cities specifically designated in the state plan and Xinjiang Production and Construction Corporations: The State Administration of Foreign Exchange and the Ministry of Commerce (the former Ministry of Foreign Trade and Economic Cooperation) jointly established the examination and verification system of collecting export proceeds in foreign exchange in March 1999 to examine and verify the business of all kinds of enterprises possessing the import and export right (hereinafter referred to as import and export entity) in collecting export proceeds in foreign exchange. The implementation of the system herein played a big role in pressing import and export entities to fully collect and timely verify and write-off export proceeds in foreign exchange, preventing the evasion and arbitrage of foreign exchange, and perfecting the administration of collecting export proceeds in foreign exchange. In light of the development of the foreign-related businesses in our country, the State Administration of Foreign Exchange and the Ministry of Commerce have decided upon study to abolish the examination and verification system of collecting export proceeds in foreign exchange. A circular in respect of the relevant issues is given as follows:
1. The Trial Measures for the Examination and Verification System of Collecting Export Proceeds in Foreign Exchange (Hui Fa [1999] No. 103) shall be abolished. The branches of the State Administration of Foreign Exchange and foreign exchange administration authorities (hereinafter referred to as foreign exchange bureaus) and the commerce authorities in all provinces (cities) shall cease examining and verifying the collection of export proceeds in foreign exchange of 2006. The relevant award and punishment measures or classification administration measures shall be ceased with regard to the regions which have announced the collection result of 2006 of the export proceeds in foreign exchange.
2. When handling such businesses as the transmission of verification and writing-off forms of export proceeds in foreign exchange and the examination and verification of the qualification of automatic verification and writing-off of collecting export proceeds in foreign exchange, the foreign exchange bureaus may not discriminate the enterprises in the administration of the examination of export proceeds in foreign exchange. Verification and writing-off forms of export proceeds in foreign exchange shall be handed out in light of the need, and control hand-out shall be carried out as for such import and export entity as gravely violates the regulation of foreign exchange administration.
3. This Circular shall come into effect as of July 1, 2007. Circular on Implementing the Detailed Rules of Award and Punishment of Trial Measures for the Examination and Verification System of Collecting Export Proceeds in Foreign Exchange (Hui Fa [2000] No. 68), Circular of the State Administration of Foreign Exchange and the Ministry of Foreign Trade and Economic Cooperation on Adjusting the Indexes for the Examination and Verification of Collecting Export Proceeds in Foreign Exchange (Hui Fa [2002] No 18), Measures for the Administration of Verification and Writing-Off of Export Proceeds in Foreign Exchange and other relevant provisions in other laws and regulations in respect of the examination and verification of collecting export proceeds in foreign exchange shall be abolished simultaneously. All the branches herein shall, after having received the Circular herein, transmit it to the central sub-branches, sub-branches and the relevant entities within their jurisdictions and make a copy to the foreign-funded banks and local commercial banks within their jurisdictions. Please reflect it to the foreign exchange bureau or the Ministry of Commerce in time in the case of having problems during the implementation thereof.
State Administration of Foreign Exchange Ministry of Commerce
June 14, 2007 |
