State Administration of Foreign Exchange, Administration of Verification and Reconciliation of Foreign Exchange Received from Exports Measures

Promulgated: August 5 2003
Effective: October 1 2003
Interpreting authority: State Administration of Foreign Exchange

Main contents: Article 2 of the Measures defines various terms as used in the Measures. For example the term "banks" includes wholly foreign-owned banks. The Measures explain the Measures an export work unit must follow once it has obtained the right to export, such as getting access verification to the "China electronic port" network (Article 8). They state what should be done if an export work unit ceases business, or has its qualification to conduct foreign trade revoked, or splits, merges, etc. They state the Measures to be followed with customs and deal with the submission of unused verification and reconciliation certificates to the State Administration of Foreign Exchange.
Related legislation: PRC Administration of Foreign Exchange Control Regulations (Revised), Jan 14 1997, CLP 1997 No.2 p7
Repealed legislation: A list of 14 repealed laws is appended to the Measures