State Administration of Foreign Exchange, Issues Relevant to Adjusting the Administrative Policies on Foreign Exchange Accounts for Current Account Items for Such Activities as International Contracting Projects Circular

Issued: August 5 2003
Effective: September 1 2003

Main contents: The Circular allows the limits of the foreign exchange accounts for current account items of certain activities to be verified at 100% of their foreign exchange revenue. Such activities include international contracting projects, international labour services, international maritime transport and freight forwarding, international bidding, and temporary receipts and payments of foreign exchange where such foreign exchange is received from outside China and later transferred to other organizations or individuals in China.
Related legislation: State Administration of Foreign Exchange, Issues Relevant to Further Adjusting the Administrative Policies on Foreign Exchange Accounts for Current Account Items Circular, Sep 9 2002, CLP 2002 No.9 p7 and Administration of Foreign Exchange Accounts for Current Account Items of Domestic Organizations Implementing Rules