The Foreign Exchange Bureau Has Cleared Up The Regulation &Nbsp; 15 Years Ago, The Terms Of Sale And Sale Were Still Valid.

Simpler than in the past

In August 15th, the State Administration of foreign exchange (hereinafter referred to as "safe"), which tried to enhance pparency in foreign exchange management, published the "main catalogue of effective foreign exchange management regulations (as at the end of June 2011)" (hereinafter referred to as "directory").

It is reported that foreign exchange management is included in the catalogue.

In the catalogue, the regulations governing the settlement, sale and payment of foreign exchange as a basic regulation (silver hair [1996]210) are also listed in the main laws governing effective foreign exchange management.

For example, article 210 stipulates that in terms of settlement, sales and payment of foreign exchange under the capital account, foreign exchange within the scope of domestic institutions shall not be settled without the approval of safe, such as "foreign exchange of foreign legal persons or natural persons as investment," "foreign exchange obtained from foreign loans and issue of foreign currency bonds, stocks", "foreign exchange earnings under other capital projects approved by the State Administration of foreign exchange", "domestic foreign exchange loans other than export bills, and international commercial loans borrowed by Chinese funded enterprises".

In this regard, the industry analysis, the current foreign exchange management environment is no longer the same, has been developed from the foreign exchange "scarce" country more than ten years ago into a foreign exchange reserve of 320 million U.S. dollars in foreign exchange reserves.

In addition, the risk of cross-border capital flows is getting worse. It should be changed from the policy of "wide entry and strict exit" to "strict promotion and wide promotion". In other words, we must strictly regulate the business of foreign exchange settlement of relevant trading entities.

In fact, the safe also admitted that China's foreign exchange receipts and payments may still face greater net inflow pressure in the second half of this year. We must fully understand the seriousness and complexity of the current foreign exchange situation, and crack down on illegal capital and cross-border arbitrage funds such as "hot money".

In the first half of the year, the safe managed to strengthen the management of foreign exchange settlement, re export, pre payment and deferred payment, and further reduced the total scale of short-term foreign debt index of domestic financial institutions in 2011.

Now, since the foreign exchange situation is so grim, will the administration of foreign exchange, foreign exchange and payment be governed by foreign exchange management problems in the new environment 15 years ago?