The State Administration of Foreign Exchange Interim Measures for Administration of the Foreign Exchange Registration of Enterprises with Foreign Investment HuiZiHanZi [1996] No.187 June 28, 1996 Article 1 These Measures are formulated in order to improve the foreign exchange administration of enterprises with foreign investment by setting Article 2 Enterprises here refer to Chinese-foreign equity joint ventures, Chinese-foreign contractual joint ventures, and foreign-capital enterprises Article 3 The State Administration of Foreign Exchange and its branches and sub-branches (hereinafter SAFE) are the administration organs in Article 4 Within 30 days of acquiring the Business License for a Legal Person of the People’s Republic of China, enterprises shall go through 1. approval documents and Approval Certificate for establishment issued by the competent organ. 2. Business License for Legal Person of the PRC issued by the State Administration for Industry and Commerce. 3. the approved and valid enterprise contract and constitution. 4. other documents required by SAFE. Domestic or overseas subsidiaries of the enterprise that has registered with the domiciled branch of SAFE do not need to go through Article 5 After examining the documents submitted by the enterprises, SAFE shall issue Foreign Exchange Registration Certificate of Enterprises The Registration Certificate shall be designed centrally by SAFE headquarter. Article 6 After acquiring the Registration Certificate, the enterprise shall open foreign exchange accounts with designated foreign exchange After opening a foreign exchange account for the enterprise, the designate foreign exchange bank shall note its own name, currency, Article 7 SAFE shall make an annual-inspection on the Registration Certificate. Inspected Registration Certificate shall be valid. The term Article 8 After going through the formalities of the Registration Certificate, in case of name, address, and business scope changes, or share Article 9 Upon the expiration or early termination of the term of an enterprise, after disbanding as approved by the original competent organ, Article 10 In case of losing the Registration Certificate, the enterprise shall report to SAFE in a timely fashion. After verifying it the truth, Article 11 Registration Certificate shall not be forged, altered, rent, transferred, or sold to others. Article 12 In cases of those who violate these Measures, SAFE shall, in accordance with the seriousness of the case, impose fines of RMB 1,000-10,000. Article 13 The right to interpret these Measures resides in SAFE. These Measures shall enter into force as of July 1, 1996. |
The State Administration of Foreign Exchange
1996-06-28