State Administration of Foreign Exchange, General Administration of Customs and State Administration of Taxation, Announcement on the Reform of the Foreign Exchange Control System for Trade in Goods

国家外汇管理局、海关总署、国家税务总局关于货物贸易外汇管理制度改革的公告

September 11, 2012 | BY

CLP Temp &

Safe no longer requires settlement of foreign exchange received from exports.

Clp Reference: 3800/12.06.27 Promulgated: 2012-06-27 Effective: 2012-08-01

Issued: June 27 2012

Effective: August 1 2012

Applicability: In the case of a conflict between this Announcement and previous regulations, this Announcement shall prevail.

Main contents: From August 1 2012, enterprises no longer need to carry out the procedures for verification and settlement of their foreign exchange received from exports. Instead, the State Administration of Foreign Exchange will regularly check export/import transactions and foreign exchange receipts/expenditures derived from trade of each enterprise and evaluate the two types of figures (Article 1).

Related legislation: Announcement on the Pilot Reform of the Foreign Exchange Control System for Trade in Goods, Sep 9 2011, CLP 2011 No.9 p.20; and Provisions on the Pilot Reform of the System of Verification of Foreign Exchange Payments for Imports, Apr 29 2010, CLP 2010 No.4 p.43

Repealed legislation: 116 regulations listed in the Appendix.

clp reference:3800/12.06.27 issued:2012-06-27 effective:2012-08-01

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