State Administration of Foreign Exchange, Adjustment of Policies for Reconciliation of Foreign Exchange Received from Exports and Administration of Foreign Exchange Accounts Circular

Issued: 12 November 2001
Effective: 1 December 2001

Main contents: The adjustments delineated in the Circular are made to help domestic enterprises adapt to the new export environment following China's entry into the World Trade Organization. These adjustments include relaxation of the requirements for Chinese-funded enterprises to open foreign exchange settlement accounts, submission of documents to the foreign exchange authority through the port-of-entry system, permanent validity of paper documents that are registered electronically in the port-of-entry system, and relaxation of the conditions for approving differences between receivable and actually received foreign exchange.