People's Bank of China, Announcement [2006] No.5
中国人民银行公告 [2006] 第5号
Consistent with foreign exchange control reforms, the People's Bank of China announced several liberalization measures in relevant control policies.
(Issued by the People's Bank of China on April 13 2006.)
(中国人民银行于二零零六年四月十三日发布。)
With a view to intensifying the reform of the foreign exchange control system, supporting the simplification of trade and investment, further nurturing the foreign exchange market and promoting a basic balance in international receipts and payments, we hereby announce, after approval by the State Council, the following matters concerning the revision of certain foreign exchange control policies:
1. The system for opening, amending and closing current account-related foreign exchange accounts by enterprises shall be changed from one requiring advance examination and approval to one in which matters shall be handled directly by banks in line with foreign exchange control requirements and commercial practice and reported to the foreign exchange bureau for the record. The limits on current account-related foreign exchange accounts of enterprises shall be increased. Enterprises that have a genuine trading background and a need to make payments to foreign parties shall be permitted to purchase foreign exchange in advance.
为深化外汇管理体制改革，支持贸易投资便利化，进一步培育外汇市场，促进国际收支基本平衡，经国务院批准，现就调整部分外汇管理政策事宜公告如下：
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