State Administration of Foreign Exchange, Circular on Issues Relevant to Improving the Administration of Foreign Debt

Promulgated: October 21 2005
Effective: December 1 2005

Main contents: The Circular deals with issues such as:
1. delayed payments of at least 180 days and of a value of at least US$200,000 of domestic organizations will be subject to administration through foreign debt registration;
2. regulation of the administration of the foreign debt of special types of foreign-invested enterprises;
3. foreign debt administration on multinational corporations registered in China; and
4. regulation of the administration of domestic loans secured by foreign guarantees.
Related legislation: PRC Foreign Exchange Control Regulations (2nd Revision), Aug 5 2008, CLP 2008 No.8 p.77; Tentative Provisions for Statistical Monitoring of Foreign Debts Tentative Provisions Statistical Monitoring of Foreign Debts, Aug 27 1987; Tentative Measures for the Administration of Foreign Debt, Jan 8 2003, CLP 2003 No.2 p.63; Circular on Issues Relevant to Strengthening the Administration of Delayed Payments and Forward Payments of Foreign Exchange for Imports, 2005; Measures for the Administration of Foreign Investment in the Leasing Industry, Feb 3 2005, CLP 2005 No.3 p.41; Circular on Verification of Short-term Foreign Debt Quotas of Foreign-invested Banks in China for the Year 2005, Jan 26 2005, CLP 2005 No.2 p.5; Supplementary Circular on Issues Relevant to Renminbi Loans Secured with Foreign Exchange, Apr 15 2005, CLP 2005 No.7 p.40 and Circular on Improving the Verification of Foreign Exchange Settlement for Capital Account Items and the Administration of Foreign Debt Registration of Foreign-invested Enterprises, May 17 2004, CLP 2004 No.6 p.59