The State Administration of Foreign Exchange Circular of the State Administration of Foreign Exchange on Relevant Issues on the Foreign Exchange Control in Bonded Warehouses HuiFa [1998] No.97 November 30,1998 Branches the State Administration of Foreign Exchange in all provinces, autonomous regions, and municipalities directly under the Since the promulgation and implementation of the Circular on the Improvement of the Supervision over the Sale and Payment of Foreign 1. Where the enterprises engaged in the operation of bonded warehouses (hereinafter referred to as “bonded warehouse enterprises”) import a. import contract; b. verification form of import payment of foreign exchange; c. special payment certificate for the customs duty levied by Customs or Customs’ duty – exemption certificate; d. original declaration form of import goods attached with anti- falsification tag and stamped with Customs’ “proof seal” with the country e. other valid documents and commercial invoices required by corresponding means of settlement and modes of trade administration. The 2. Where the bonded warehouse enterprises import goods from outside China in an outright purchase manner and sub-sequently sell them a. import contract; b. verification form of import payment of foreign exchange; c. special payment certificate for the customs duty levied by Customs or Customs’ duty-exemption certificate; d. original declaration form of import goods attached with anti- falsification tag and stamped with Customs’ “proof seal” with the country e. original declaration form of import goods stamped with Customs’ “proof seal” with the country (or region) of dispatch as “Outside f. other valid documents and commercial invoices required by corresponding means of settlement and modes of trade administration. The total amount on the declaration form for exit outside of bonded warehouse shall not be higher than that for entry into the bonded The applicants for the purchase and payment of foreign exchange shall be in conformity with the operating entities indicated on the 3. Where the domestic entities import goods from outside China into China through the bonded warehouse, such cases shall be handled according 4. Only declaration form for entry into bonded warehouse itself shall not be used by the bonded warehouse enterprises and other domestic 5. Designated foreign exchange banks shall strictly examine and verify required valid documents and commercial invoices and go through 6. This Circular is not applicable to the enterprises operating bonded warehouse business in the bonded areas and the act of importing 7. Upon its receipt of this Circular, every branches of SAFE shall transit it to the sub-branches and financial institutions (inclusive 8. This Circular shall enter into force as of the date of promulgation. |
The State Administration of Foreign Exchange
1998-11-30