State Administration of Foreign Exchange, Circular on the Centralized Administration of the Positions for Settlement and Sale of Foreign Exchange of Foreign-invested Banks in China

国家外汇管理局关于境内外资银行集中管理结售汇周转头寸的通知

October 31, 2005 | BY

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Issued: July 12 2005Effective: August 1 2005Main contents: Foreign-invested banks in China (including wholly-owned banks, equity joint venture banks and…

Clp Reference: 3810/05.07.12 Promulgated: 2005-07-12 Effective: 2005-08-01

Issued: July 12 2005
Effective: August 1 2005

Main contents: Foreign-invested banks in China (including wholly-owned banks, equity joint venture banks and branches of foreign banks) may have their head offices or head offices of foreign banks or regional headquarters authorize a branch in China to carry out central settlement of positions for settlement and sale of foreign exchange for all branches and sub-branches in China (Item One).
Related legislation: Tentative Measures for the Administration of Foreign Exchange Settlement and Sale Business by Designated Foreign Exchange Banks, Nov 16 2002, CLP 2003 No.2 p.7 and Implementing Rules on the Settlement, Sale and Payment of Foreign Exchange Businesses of Foreign-invested Banks, 1996

clp reference:3810/05.07.12promulgated:2005-07-12effective:2005-08-01

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