第一条为适应我国加入世界贸易组织的新形势，降低企业经营成本，完善经常项目外汇管理，根据《中华人民共和国外汇管理条例》、《境内外汇账户管理规定》和《关于进一步调整经常项目外汇账户管理政策有关问题的通知》，特制定本细则。?

第二条本细则所称境内机构是指中华人民共和国境内的国家机关、企事业单位、社会团体、部队等，包括外商投资企业，但不包括金融机构。??

二、经常项目外汇账户的开立与使用?

第三条符合下列条件之一的境内机构可以向所在地国家外汇管理局及其分支局（以下简称外汇局）申请开立经常项目外汇账户

（一）经有权管理部门核准或备案具有涉外经营权或有经常项目外汇收入；?

（二）具有捐赠、援助、国际邮政汇兑等特殊来源和指定用途的外汇收入。?

第四条境内机构经常项目外汇账户的收入范围为经常项目外汇收入，支出范围为经常项目外汇支出及经外汇局核准的资本项目外汇支出。?

捐赠、援助、国际邮政汇兑等有特殊来源和指定用途的经常项目外汇账户，其账户收支范围按照有关合同或协议进行核定。?

第五条境内机构应当持下列材料向所在地外汇局申请开立经常项目外汇账户：?

（一）开立经常项目外汇账户申请书；?

（二）营业执照或社团登记证等有效证明的原件和复印件；?

（三）有权管理部门颁发的涉外业务经营许可证明原件和复印件，或者《外商投资企业外汇登记证》（以下简称《登记证》）（见附件一）,或者有关经常项目外汇收入的证明材料（如结汇水单等）；?

（四）组织机构代码证的原件和复印件；?

（五）外汇局要求的其它材料。?

第六条外汇局审核境内机构申请开立经常项目外汇账户的材料，对于符合规定条件的，核发"经常项目外汇账户开立核准件"（以下简称"账户开立核准件"）（见附件二）。?

第七条外汇局核准境内机构的开户申请时，应当为其开立的经常项目外汇账户核定限额，并在"账户开立核准件"中注明。?

第八条境内机构经常项目外汇账户的限额，按照其上年度经常项目外汇收入的20%核定。

境内机构开立的捐赠、援助、国际邮政汇兑等有特殊来源和指定用途的经常项目外汇账户，其限额按照上述特殊来源外汇收入的100%核定。?

符合规定条件，但上年度无经常项目外汇收入的境内机构开立的经常项目外汇账户，外汇局可以为其核定初始限额，原则上不超过等值10万美元。?

国家外汇管理局可以对境内机构经常项目外汇账户的限额核定标准进行调整。?

第九条境内机构经常项目外汇账户限额统一采用美元核定，境内机构开立其他币种经常项目外汇账户的，其限额由外汇局按开户当期适用的内部统一折算率折算。?

第十条国家外汇管理局在每年的1月份，根据各地区国际收支申报中统计的上年度经常项目外汇收入情况，为各分局核定地区经常项目外汇账户总限额。各地区经常项目外汇账户总限额为本地区上年度经常项目外汇收入的25%.?

国家外汇管理局可以根据国家国际收支状况，对各地区经常项目外汇账户总限额的核定标准进行调整。?

第十一条境内机构经常项目外汇收入发生较大变化时，外汇局可以根据国家外汇管理局核定的地区总限额、本地区的实际情况以及境内机构的实际需要，对其经常项目外汇账户限额进行调整，既可以调高，也可以调低，原则上每年调整一次。但外汇局所辖境内机构经常项目外汇账户的限额总和不得超过国家外汇管理局核定的该地区总限额。?

第十二条境内机构应当凭外汇局核发的"账户开立核准件"到经营外汇业务的银行或其他金融机构（以下简称开户金融机构）开立经常项目外汇账户。?

开户金融机构为中资境内机构开立经常项目外汇账户后，应当将账号、币种、开户日期、限额等开户信息如实填写在"账户开立核准件"相应栏目中，并将"账户开立核准件"第四联交开户的中资境内机构。中资境内机构应当在开户之日起10个工作日内，将"账户开立核准件"第四联送开户所在地外汇局，并申领《外汇账户使用证》（见附件三）。?

开户金融机构为外商投资企业开立经常项目外汇账户后，应当将账号、币种、开户日期、限额等开户信息如实填写在《登记证》和"账户开立核准件"相应栏目内。开户金融机构应当在每月初起5个工作日内，将"账户开立核准件"　第四联报开户所在地外汇局。?

在已使用外汇账户管理信息系统（以下简称账户系统），并能通过账户系统对经常项目外汇账户进行监管的地区（以下简称已使用账户系统的地区），开户金融机构为境内机构开立经常项目外汇账户后，须于开户后次日通过账户系统，按《外汇账户管理信息系统与外汇指定银行数据接口规范》等规定将开户信息传送到外汇局。开户金融机构不必将"账户开立核准件"　第四联交开户的中资境内机构，开户的中资境内机构不必申领《外汇账户使用证》。?

第十三条境内机构原则上只能开立一个经常项目外汇账户。在同一银行开立相同性质、不同币种的经常项目外汇账户无需另行由外汇局核准。?

在已使用账户系统的地区，符合开户条件的境内机构可根据其实际经营需要，向外汇局申请开立多个经常项目外汇账户，在开户个数、开户金融机构方面不受限制，开户金融机构必须按规定为境内机构办理开户手续，并通过账户系统向外汇局传送开户信息。?

境内机构开立多币种、两个或两个以上经常项目外汇账户的，外汇局必须为每一个币种经常项目外汇账户核定限额，具体限额分解可以由境内机构自行确定，但境内机构所有经常项目外汇账户限额总和不得超过规定的限额。?

第十四条境内机构经常项目外汇收入，在外汇局核定的经常项目外汇账户限额以内的，可以结汇，也可以存入其经常项目外汇账户；超出外汇局核定的经常项目外汇账户限额的外汇收入必须结汇。?

第十五条境内机构经常项目外汇账户余额超出经常项目外汇账户限额后，开户金融机构应当及时通知境内机构办理结汇手续。境内机构未及时办理结汇手续的，开户金融机构有权在境内机构经常项目外汇账户余额超出经常项目外汇账户限额之日起10个工作日内强制为其办理超限额部分外汇结汇手续，并在结汇后5个工作日内告知该境内机构。?

第十六条境内机构原则上不得将经常项目外汇账户中的外汇资金转作定期存款，确需转作定期存款的境内机构须凭申请书、《外汇账户使用证》或《登记证》、原账户开立核准件、对帐单向开户所在地外汇局申请。境内机构经常项目外汇账户的外汇资金转作定期存款，应当纳入其经常项目外汇账户限额的管理。?

在已使用账户系统的地区，境内机构可以将经常项目外汇账户中的外汇资金在开户金融机构中转作定期存款，但应当纳入其经常项目外汇账户限额的管理。开户金融机构应当按原转出户的账户开立核准件编号，填写定期存款账户开户信息后，报送开户所在地外汇局。

第十七条同一境内机构在不同开户金融机构开立的相同性质经常项目外汇账户之间可以相互划转外汇资金。??

三、经常项目外汇账户的变更?

第十八条境内机构开立经常项目外汇账户后，如因经营需要调整开户单位名称、最高限额等账户信息的，应当持申请书、《外汇账户使用证》或《登记证》、原账户开立核准件、对帐单向开户所在地外汇局申请，并持开户所在地外汇局的"账户变更核准件"（见附件四）到开户金融机构办理变更手续。开户金融机构办理完毕业务后，应当在每月初起5个工作日内将"账户变更核准件"　第四联报开户所在地外汇局。?

第十九条境内机构因经营需要在注册地以外开立经常项目外汇账户的，应当向注册地外汇局备案，持注册地外汇局的"异地开户备案件"（见附件五）及第四条规定的材料向开户所在地外汇局申请，凭开户所在地外汇局核发的"账户开立核准件"，到开户金融机构办理开户手续。开户所在地外汇局必须及时将有关开户信息书面告知注册地外汇局。?

境内机构异地经常项目外汇账户，由开户所在地外汇局进行监管。异地经常项目外汇账户的限额，由开户所在地外汇局根据该境内机构在当地上年度国际收支申报中统计的经常项目外汇收入核定，并纳入开户所在地的地区经常项目外汇账户总限额。??

四、经常项目外汇账户的关闭和撤销?

第二十条境内机构关闭经常项目外汇账户，应当向外汇局申请，凭外汇局的"关户核准件"（见附件六）办理关闭账户手续。开户金融机构办理完毕业务后，应当在每月初起5个工作日内将"关户核准件"第四联报开户所在地外汇局。?

境内机构异地账户关闭后，开户所在地外汇局必须及时将有关账户关闭信息书面告知注册地外汇局。?

境内机构关闭经常项目外汇账户后，还开有其他相同性质经常项目外汇账户的，账户内资金可以转入其他相同性质经常项目外汇账户；如没有其他相同性质经常项目外汇账户的，账户内资金必须结汇。?

第二十一条境内机构开立经常项目外汇账户后，该账户一年内没有任何外汇收支的，开户金融机构应当在每年的1月份将有关情况报所在地外汇局，由外汇局下达"撤户通知书"（见附件七），通知境内机构关闭该账户，同时通知开户金融机构。?

境内机构应当在接到"撤户通知书"后5个工作日内，到开户金融机构办理关闭账户手续。如境内机构逾期不办理，开户金融机构可以在接到"撤户通知书"5个工作日后强行关闭该账户，账户内资金结汇，人民币资金按照人民银行有关规定处理。开户金融机构办理完毕业务后，应当在每月初起5个工作日内将"撤户通知书"第四联报开户所在地外汇局。

第二十二条境内机构开立捐赠、援助、国际邮政汇兑等有特殊来源和指定用途的经常项目外汇账户，应当在账户内资金使用完毕后按照第二十条规定办理关闭账户手续。??

五、经常项目外汇账户的监管?

第二十三条开户金融机构应当在每月初起5个工作日内向外汇局报送上月"境内机构经常项目外汇账户情况月报表"（见附件八）。各分局应于每月初起10个工作日内，将所辖地区"境内机构经常项目外汇账户情况月报表"汇总后报国家外汇管理局。?

在已使用账户系统的地区，开户金融机构应当每日通过账户系统向外汇局报送经常项目外汇账户信息。开户金融机构和外汇局可以不再报送前款规定的报表。?

第二十四条外汇局应当对所辖境内机构经常项目外汇账户进行年检。?

已使用账户系统的地区不再对所辖境内机构经常项目外汇账户进行年检。?

第二十五条本细则施行前未开立经常项目外汇结算账户或外汇专用账户、本细则施行后申请开立经常项目外汇账户的，外汇局应当按照本细则规定核准其开户申请，并为其核定账户限额。?

本细则施行前已开立经常项目外汇结算账户或外汇专用账户、本细则施行后申请开立经常项目外汇账户的，外汇局应当按本细则规定合并其外汇结算账户和外汇专用账户，核准其开户申请，并按本细则规定为其核定账户限额。?

本细则施行前已开立经常项目外汇结算账户或外汇专用账户、本细则施行后未申请开立经常项目外汇账户的，其外汇结算账户和外汇专用账户在2003年12月31日前可以按照原有收支范围和限额继续使用。?

外汇局可以根据自身监管能力、实际工作需要以及本地区实际情况，选择适当时间合并原经常项目外汇结算账户和外汇专用账户，并按本细则规定为境内机构调整账户限额，但最迟不得超过2003年12月31日。?

第二十六条经国务院批准由海关实行封闭管理的特殊经济区域（包括保税区、出口加工区和钻石交易所等）的境内机构仍按相关管理办法开立和使用经常项目外汇账户。但已使用账户系统的地区，应当将有关上述境内机构外汇账户纳入账户系统管理。?

第二十七条对违反本实施细则规定的境内机构和开户金融机构，由外汇局按照《中华人民共和国外汇管理条例》和《境内外汇账户管理规定》及其他有关规定进行处罚。??

六、附则?

第二十八条《外汇账户使用证》及《登记证》由国家外汇管理局统一印制。"账户开立核准件"，"账户变更核准件"　，"异地开户备案件"　，"关户核准件"　，"撤户通知书"　，由国家外汇管理局设计，各分局自行印制，有效期为一个月。?

第二十九条本细则由国家外汇管理局负责解释。?

第三十条本细则自2002年10月15日起施行。

国家外汇管理局
2002年9月9日

Detailed Implementing Rules on The Administration of Domestic Entities' Foreign Exchange Accounts under Current AccountHuiFa [2002] No.87

SAFE branches in all provinces, autonomous regions, municipalities directly under the Central Government, exchange administration offices, and SAFE branches in the cities of Shenzhen, Dalian, Qingdao, Xiamen, Ningbo, head offices of all designated Chinese-funded foreign exchange banks:

In order to adapt to new circumstances after China's entry into the WTO, further improve the foreign exchange administration under current account, lower enterprises' operational costs, and promote the development of foreign trade and economic cooperation, the SAFE has decided to adjust policies on the administration of foreign exchange accounts under current account. A circular on relevant issues is given hereunder:

1. Further lower the threshold for Chinese-funded enterprises to open foreign exchange accounts, unify the requirements for opening foreign exchange accounts under current account for both Chinese-funded and enterprises with foreign investment. Any domestic entity authorized by or put on record in the competent administration agency to conduct foreign business or having foreign exchange proceeds under current account （including enterprise with foreign investment） may apply to the SAFE office in its locality for opening a foreign exchange account under current account.

2. The existing foreign exchange settlement account under current account and special foreign exchange account of an enterprise shall be consolidated into a foreign exchange account under current account. Foreign exchange account under current account shall be credited with foreign exchange proceeds from current transactions and debited with foreign exchange payments for current transactions and payments for capital transactions approved by a SAFE office.

3. Balance ceiling shall be set for all foreign exchange accounts under current account. The balance ceiling of a domestic entity''s foreign exchange account under current account shall be 20 percent of the amount of its foreign exchange proceeds from current transactions for the previous year in principle. If an entity that has no foreign exchange proceeds under current account for the previous year opens a new foreign exchange account under current account, the initial balance ceiling shall not exceed the equivalent of US$100,000 in principle.SAFE offices in all localities have the right to appropriately adjust the balance ceilings of foreign exchange accounts under current account of domestic entities under their jurisdiction in accordance with the business characteristics and actual needs of the entities and the regional grand total quota ratified by the SAFE, provided that the total of the balance ceilings of all the domestic entities'' foreign exchange accounts under current account do not exceed the regional quota.

4. Foreign exchange settlement accounts and special foreign exchange accounts opened before the implementation of this circular may be used in accordance with the original scope of receipts and payments and balance ceiling. However, domestic entities shall go through procedure of consolidating the accounts and deciding the new balance ceilings at the SAFE offices in their localities before December 31, 2003.SAFE offices in all localities may schedule the account consolidation and new balance ceiling ratification for domestic entities in their respective localities before December 31, 2003 in accordance with their supervision ability and the local conditions.

5. Employment of the management information system for foreign exchange account （hereinafter referred to as "MIS"） shall be energetically prompted. In areas where the MIS has been used and supervision over foreign exchange account under current account has been exercised through the MIS, the SAFE offices there may take flexible measures in supervising foreign exchange account under current account, such as further loosing the restriction on the number of foreign exchange accounts under current account, making no more annual inspection on foreign exchange accounts under current account, giving up the requirement on banks to submit paper-made statements related to foreign exchange accounts under current account.

6. This circular shall be implemented as from October 15, 2002. For matters clearly stipulated in this circular, this circular shall be followed, otherwise, current rules on the administration of foreign exchange account shall be followed.

On receiving this circular, all SAFE branches shall immediately transmit it to the sub-branches and foreign-funded banks under their jurisdiction. Head offices of all designated Chinese-funded foreign exchange banks shall transmit it to their branches and sub-branches as soon as possible. Any problem encountered during the implementation shall be reported in time to the Current Account Management Department of the SAFE.

September 9, 2002

Attachment: Detailed Implementing Rules on the Administration of Domestic Entities'' Foreign Exchange Accounts under Current Account

Chapter I General Provisions

Article 1 In accordance with Regulations on the Exchange System of the People''s Republic of China, the Rules on the Administration of Domestic Foreign Exchange Accounts, and the Circular on Further Adjusting Policies on the Administration of the Foreign Exchange Accounts Under Current Account, this Rules is enacted for the purpose of satisfying the needs of the new circumstances after China''s entry into the WTO, lowering enterprises'' operational costs, and further improving foreign exchange administration under current account.

Article 2 Domestic entities in this Rules refer to government agencies, enterprises and institutions, social organizations, and armed forces etc., including enterprises with foreign investment but not financial institutions.

Chapter II Opening and Use of a Foreign Exchange Account under Current Account

Article 3 A domestic entity satisfying either of the two conditions listed below may apply for opening a foreign exchange account under current account at the SAFE office in its locality.

1. Authorized by or put on record in a competent administration agency to run foreign business or having foreign exchange proceeds under current account;

2. Having foreign exchange proceeds from special sources and for prescribed purposes, such as donation, aid, and international postal remittance.

Article 4 A foreign exchange account under current account shall be credited with foreign exchange proceeds from current transactions and debited with foreign exchange payments to current transactions and payments under capital account approved by a SAFE office.The scope of receipts and payments of a foreign exchange account under current account with special sources of proceeds and prescribed purposes, such as donation, aid, and international postal remittance shall be checked and ratified in accordance with related contract or agreement.

Article 5 A domestic entity shall apply to the SAFE office in its locality for opening a foreign exchange account under current account by presenting the materials listed below:

1. A written application for the opening of a foreign exchange account under current account;

2. The original and a photocopy of the business license or certificate of corporation registration;

3. The original and a photocopy of the permit of foreign business issued by the competent administration agency, or the Certificate of Registration of enterprise with foreign investment （hereinafter referred to as Certificate of Registration） （see attachment 1）, or evidential materials for the foreign exchange proceeds under current account （such as memo of foreign exchange sale）;

4. The original and a photocopy of the certificate of institutional identification code;

5. Other materials required by the SAFE office.

Article 6 The SAFE office shall examine the materials submitted by the applying domestic enterprise, and issue a "Certificate of Approval for Opening a Foreign Exchange Account under Current Account" （hereinafter referred to as "Approval for Opening an Account" or AOA） （see attachment 2）.

Article 7 When approving the application by a domestic entity for opening an account, the SAFE office shall prescribe the balance ceiling of the foreign exchange account under current account, and record it in the AOA.

Article 8 Balance ceiling of a domestic entity''s foreign exchange account under current account shall be 20 percent of the amount of its foreign exchange proceeds from current transactions in the previous year.Balance ceiling of a foreign exchange account under current account for earmarked proceeds from special sources, such as donation, aid, and international postal remittance shall be 100 percent of the amount of the foreign exchange proceeds from the aforesaid special sources. The SAFE office may prescribe an initial balance ceiling up to the equivalent of USD100,000 for the foreign exchange account under current account opened by a qualified domestic entity that does not have foreign exchange proceeds under current account in the previous year.The SAFE may adjust the criteria for prescribing balance ceilings of domestic entities'' foreign exchange accounts under current account.

Article 9 The balance ceiling of a foreign exchange account under current account of a domestic entity shall be prescribed exclusively in US dollar. Balance ceiling of such account in other currencies shall be converted into US dollars by the SAFE office at applicable internal converting rate on the date when the account is opened.

Article 10 The SAFE shall prescribe a regional grand quota for balance ceilings of foreign exchange accounts under current account for each SAFE branch in January of every year in accordance with foreign exchange proceeds under current account reflected in the BOP statistical reporting for the previous year submitted by the branch. The regional grand quota shall be 25 percent of the region''s foreign exchange proceeds under current account in the previous year.

The SAFE may adjust the criteria for prescribing the regional grand quota in accordance with the development of balance of payments of China.

Article 11 A SAFE office may adjust upward or downward once a year in principle the balance ceiling of the foreign exchange account under current account of a domestic entity in accordance with the regional grand quota prescribed by the SAFE, the local actual situation, and real need of the domestic entity if the entity''s foreign exchange proceeds has changed significantly, provided that the total of the balance ceilings of all the domestic entities'' foreign exchange accounts under current account does not exceed the regional grand quota prescribed by the SAFE.

Article 12 A domestic entity shall open a foreign exchange account under current account at a bank or other kind of financial institution conducting foreign exchange business （hereinafter referred to as "account opening financial institution" or AOFI） by presenting the AOA issued by a SAFE office.

After opening a foreign exchange account under current account for a Chinese-funded domestic entity, the AOFI shall record the account number, currency, date of opening, and balance ceiling in corresponding columns of the "AOA", and return to the Chinese-funded entity the fourth copy of the "AOA". The Chinese-funded domestic entity shall present the fourth copy of the "AOA" to the SAFE office in the locality where the account has been opened, and apply for a Certificate for the Use of Foreign Exchange Account （see attachment 3） within 10 working days after the date of opening the account.

After opening a foreign exchange account under current account for an enterprise with foreign investment, the AOFI shall record the account number, currency, date of opening, and balance ceiling in corresponding columns of the Certificate of Registration and the "AOA". The AOFI shall send the fourth copy of the "AOA" to the SAFE office in the locality where the account has been opened within the first 5 working days of the succeeding month.

After opening a foreign exchange account under current account for a domestic entity, the AOFI in an area where the MIS has been employed and supervision over foreign exchange account under current account is exercised through the MIS （hereinafter referred to as MIS area） shall report the information of account opening to the SAFE office in accordance with the Standard on the Interface between the MIS and Data of designated foreign exchange banks. The AOFI needs not to return the fourth copy of the AOA to the Chinese-funded domestic entity; and the Chinese-funded domestic entity needs not to apply for a Certificate for the Use of Foreign Exchange Account.

Article 13 A domestic entity can only open one foreign exchange account under current account in principle. Separate approval of the SAFE office is not needed for opening a foreign exchange account under current account in a different currency in the same bank.

In an MIS area, a qualified domestic entity may apply to the SAFE office for opening two or more foreign exchange accounts under current account in accordance with its actual need. There is no restriction on the number of accounts and the choice of AOFI. The AOFI shall open account for the domestic entity in strict accordance with rules and transmit the information of account opening to the SAFE office concerned via the MIS.

In case a domestic entity opens accounts in two or more currencies, or opens two or more accounts under current account, the SAFE office shall prescribe a separate balance ceiling for every account under current account in every currency. The specific breakdown of its prescribed balance ceiling may be decided by the domestic entity on its own, provided that the total of the balance ceilings of all its accounts under current account do not exceed its prescribed balance ceiling.

Article 14 A domestic entity may either enter its foreign exchange proceeds from current transactions into its foreign exchange account under current account or sell them to the bank. Once the balance of the foreign exchange account under current account exceeds the ceiling, the surplus shall be sold to the bank.

Article 15 If the balance of a domestic entity''s foreign exchange account under current account exceeds the ceiling, the AOFI shall inform the entity to sell the surplus in good time. IF the domestic entity fails to go through the procedure of selling the surplus in good time, the AOFI has the right to compulsively exchange the surplus into renminbi in 10 working days after the occurrence of the excess, and inform the domestic entity in 5 working days after the exchange.

Article 16 A domestic entity shall, in principle, not transfer its deposits in the foreign exchange account under current account into time deposit. If the transfer is indeed necessary, the entity shall apply for it to the SAFE office in the locality where the account is opened by presenting a written application, the Certificate for the Use of Foreign Exchange Account or the Certificate of Registration, the original AOA, and account statement. Time deposit transferred from the foreign exchange account under current account shall be included in calculating the balance ceiling of the source account under current account.In an MIS area, a domestic entity may transfer its deposits in foreign exchange account under current account into time deposit with the same AOFI. The time deposit shall be included in calculating the balance ceiling of the source account. The AOFI shall send the information on the account opening for the time deposit to the local SAFE office in accordance with the serial number of the original AOA for the source account.

Article 17 Transfer of foreign exchange funds between foreign exchange accounts under current account of the same nature opened by a domestic entity with different AOFIs is permitted.

Chapter III Change of a Foreign Exchange Account under Current Account

Article 18 If a domestic entity needs to change the name of account holder or adjust the balance ceiling as required by business after opening a foreign exchange account under current account, it shall apply to the SAFE office in the locality where the account has been opened by presenting a written application, the Certificate for the Use of Foreign Exchange Account or the Certificate of Registration, the original AOA, and account statement. Then the change shall be made at the AOFI by presenting the Certificate of Approval for Change of Account （see attachment 4） issued by the said SAFE office. After handling the change, the AOFI shall send the fourth copy of the Certificate of Approval for Change of Account to the said SAFE office in the first 5 working days of the succeeding month.

Article 19 If a domestic entity needs to open a foreign exchange account under current account outside its locality of registration as required by business, it shall report to the SAFE office in its locality of registration for record, and apply to the SAFE office in the locality where the account is going to be opened by presenting the Certificate for Outside Account Opening （see attachment 5） issued by the former SAFE office and documents stipulated inArticle 5 of this Rules, and then handle the procedure of opening the account at an AOFI by presenting the AOA issued by the latter SAFE office. The latter SAFE office shall promptly inform the former SAFE office in written form of the account opened.

A domestic entity''s foreign exchange account under current account opened outside its locality of registration shall be supervised by the SAFE office in the locality where the account is opened. The balance ceiling of the outside account shall be prescribed by this SAFE office in accordance with the entity''s foreign exchange proceeds reflected in the local BOP statistics reporting for the previous year; and be included in calculating the balance ceiling of the region where the account is opened.

Chapter IV Closure and Cancellation of a Foreign Exchange Account under Current Account

Article 20 If a domestic entity wants to close a foreign exchange account under current account, it shall apply to the SAFE office, and handle the closing procedure by presenting the "Certificate of Approval for Account Closing" （see attachment 6） issued by the SAFE office. After closing the foreign exchange account, the AOFI shall send the fourth copy of the said Certificate to the SAFE office in the locality where the account was opened within the first 5 working days of the succeeding month.

After an outside foreign exchange account of a domestic entity is closed, the SAFE office in the locality where the account was opened shall inform in time the SAFE office in the entity''s locality of registration of the closure of the account in written form.

If a domestic entity holds another foreign exchange account under current account of the same nature as the closed one, balance in the closed account may be transferred to that account. If there is no account of the same nature, balance in the closed account shall be sold.

Article 21 If a domestic entity''s foreign exchange account under current account has neither receipts nor payments in one year after it is opened, the AOFI shall report the case to the local SAFE office in January of the succeeding year. The SAFE office shall issue a "Notice for the Cancellation of Account" （see attachment 7） to the entity and to the AOFI simultaneously.

The domestic entity shall go to the AOFI to handle the account closing procedure within 5 working days after receiving the said Notice. If the entity fails to do so beyond the time limit, the AOFI may compulsively close the account and exchange the account balance into renminbi 5 working days after receiving the said Notice. Renminbi from the exchange shall be dealt with in accordance with relevant stipulations of the People''s Bank of China. After closing the account, the AOFI shall send the fourth copy of the "Notice for the Cancellation of Account" to the SAFE office in the locality where the account was opened within the first 5 working days of the succeeding month.

Article 22 Once the balance of a foreign exchange account under current account opened by a domestic entity with earmarked proceeds from special sources such as donation, aid, and international postal remittance comes to zero, the account shall be closed in accordance withArticle 20 of this Rules.

Chapter V Supervision over a Foreign Exchange Account under Current Account

Article 23 An AOFI shall submit to the SAFE office "Monthly Statement of Domestic Entities'' Foreign Exchange Accounts under Current Account" （see attachment 8） for the previous month within the first 5 working days of every month. All SAFE branches shall collect the "Monthly Statement of Domestic Entity''s Foreign Exchange Account under Current Account" submitted by SAFE offices under their respective jurisdiction and then present itemized reports to the SAFE within the first 10 working days of every month.

AOFIs in MIS areas shall transmit to SAFE offices the information on foreign exchange accounts under current account via the MIS on a daily basis. AOFIs and SAFE offices there do not have to submit the statement stipulated in the previous paragraph.

Article 24 SAFE offices shall conduct annual inspection on the foreign exchange accounts under current account of the domestic entities under their respective jurisdiction Annual inspection shall not be conducted on foreign exchange accounts under current account of domestic entities in MIS areas.

Article 25 If a domestic entity that has not opened a foreign exchange settlement account or special account under current account before the implementation of this Rules applies for the opening of a foreign exchange account under current account after the implementation of this Rules, the SAFE office concerned shall approve its application in accordance with this Rules and prescribe a balance ceiling for its account.

If a domestic entity that has opened a foreign exchange settlement account and special account under current account before the implementation of this Rules applies for the opening of a foreign exchange account under current account after the implementation of this Rules, the SAFE office concerned shall consolidate its settlement account and special account in accordance with this Rules, approve its application for opening account, and prescribe a balance ceiling for the account ratified.

If a domestic entity that has opened a foreign exchange settlement account and special account under current account before the implementation of this Rules does not apply for opening a foreign exchange account under current account after the implementation of this Rules, its foreign exchange settlement account and special account may be used in accordance with the original scope of receipts and payment and balance ceiling until December 31, 2003.

SAFE offices may schedule the account consolidation and balance ceiling ratification for domestic entities under their respective jurisdiction before December 31, 2003 at latest in accordance with their own supervision ability, actual need of work and local conditions.

Article 26 The foreign exchange accounts under current account of domestic entities in special economic zones approved by the State Council and subject to close supervision by customs （including bonded areas, export processing zones, and the diamond exchange） shall still be opened and used in accordance with existing relevant regulations. However, foreign exchange account of said domestic entities in MIS areas shall be incorporated into the MIS.

Article 27 A domestic entity or an AOFI violating this Rules shall be punished by the relevant SAFE office in accordance with Regulations on the Exchange System of the People''s Republic of China, Rules on the Administration of Domestic Foreign Exchange Account, and other relevant regulations.

Chapter VI Supplementary Provisions

Article 28 The Certificate for the Use of Foreign Exchange Account and the Certificate of Registration shall be printed exclusively by the SAFE. The "AOA", the "Certificate of Approval for Change of Account", the "Certificate of Record for Outside Account", the "Certificate of Approval for Account Closing" and the "Notice for the Cancellation of Account" shall be designed exclusively by the SAFE and printed by SAFE branches of their own accord. Their term of validity shall be one month after issuance.

Article 29 The SAFE shall be responsible for the interpretation of this Rules.

Article 30 This Rules shall enter into force as from October 15, 2002