State Administration of Foreign Exchange, Measures for the Administration of Foreign Debt Registration

Issued: April 28 2013

Effective: May 13 2013

Interpreting authority: State Administration of Foreign Exchange

Main contents: The Circular simplifies the stages involved in the administration of foreign debt registration, cancels certain examination and approval matters relating to foreign debt control and, with the exception of foreign debt agreement registration, the opening of foreign debt accounts, conversion of funds and repayment of principal and interest may be directly reviewed and handled by designated foreign exchange banks.

The proceeds of a foreign debt taken out by a foreign-invested enterprise may be converted and used. Unless otherwise provided, the proceeds of a foreign debt taken out by a domestic financial institution or Chinese-invested enterprise may not be converted and used (Article 14).