| 颁布日期：1997-1-14 (1996年1月29日中华人民共和国国务院令第193号发布 根据1997年1月14日《国务院关于修改〈中华人民共和国外汇管理条例〉的决定》修正) 第一章 总 则 第一条 为了加强外汇管理，保持国际收支平衡，促进国民经济健康发展，制定本条例。 第二条 国务院外汇管理部门及其分支机构(以下统称外汇管理机关)，依法履行外汇管理职责，负责本条例的实施。 第三条 本条例所称外汇，是指下列以外币表示的可以用作国际清偿的支付手段和资产： (一)外国货币，包括纸币、铸币； (二)外币支付凭证，包括票据、银行存款凭证、邮政储蓄凭证等； (三)外币有价证券，包括政府债券、公司债券、股票等； (四)特别提款权、欧洲货币单位； (五)其他外汇资产。 第四条 境内机构、个人、驻华机构、来华人员的外汇收支或者经营活动，适用本条例。 第五条 国家对经常性国际支付和转移不予限制。 第六条 国家实行国际收支统计申报制度。凡有国际收支活动的单位和个人，必须进行国际收支统计申报。 第七条 在中华人民共和国境内，禁止外币流通，并不得以外币计价结算。 第八条 任何单位和个人都有权检举、揭发违反外汇管理的行为和活动。 对检举、揭发或者协助查处违反外汇管理案件有功的单位和个人，由外汇管理机关给予奖励，并负责保密。 第二章 经常项目外汇 第九条 境内机构的经常项目外汇收入必须调回境内，不得违反国家有关规定将外汇擅自存放在境外。 第十条 境内机构的经常项目外汇收入，应当按照国务院关于结汇、售汇及付汇管理的规定卖给外汇指定银行，或者经批准在外汇指定银行开立外汇帐户。 第十一条 境内机构的经常项目用汇，应当按照国务院关于结汇、售汇及付汇管理的规定，持有效凭证和商业单据向外汇指定银行购汇支付。 第十二条 境内机构的出口收汇和进口付汇，应当按照国家关于出口收汇核销管理和进口付汇核销管理的规定办理核销手续。 第十三条 属于个人所有的外汇，可以自行持有，也可以存入银行或者卖给外汇指定银行。 个人的外汇储蓄存款，实行存款自愿、取款自由、存款有息、为储户保密的原则。 第十四条 个人因私用汇，在规定限额以内购汇。超过规定限额的个人因私用汇，应当向外汇管理机关提出申请，外汇管理机关认为其申请属实的，可以购汇。 个人携带外汇进出境，应当向海关办理申报手续；携带外汇出境，超过规定限额的，还应当向海关出具有效凭证。 第十五条 个人移居境外后，其境内资产产生的收益，可以持规定的证明材料和有效凭证向外汇指定银行购汇汇出或者携带出境。 第十六条 居住在境内的中国公民持有的外币支付凭证、外币有价证券等形式的外汇资产，未经外汇管理机关批准，不得携带或者邮寄出境。 第十七条 驻华机构和来华人员的合法人民币收入，需要汇出境外的，可以持有关证明材料和凭证到外汇指定银行兑付。 第十八条 驻华机构和来华人员由境外汇入或者携带入境的外汇，可以自行保存，可以存入银行或者卖给外汇指定银行，也可以持有效凭证汇出或者携带出境。 第三章 资本项目外汇 第十九条 境内机构的资本项目外汇收入，除国务院另有规定外，应当调回境内。 第二十条 境内机构的资本项目外汇收入，应当按照国家有关规定在外汇指定银行开立外汇帐户；卖给外汇指定银行的，须经外汇管理机关批准。 第二十一条 境内机构向境外投资，在向审批主管部门申请前，由外汇管理机关审查其外汇资金来源；经批准后，按照国务院关于境外投资外汇管理的规定办理有关资金汇出手续。 第二十二条 借用国外贷款，由国务院确定的政府部门、国务院外汇管理部门批准的金融机构和企业按照国家有关规定办理。 外商投资企业借用国外贷款，应当报外汇管理机关备案。 第二十三条 金融机构在境外发行外币债券，须经国务院外汇管理部门批准，并按照国家有关规定办理。 第二十四条 提供对外担保，只能由符合国家规定条件的金融机构和企业办理，并须经外汇管理机关批准。 第二十五条 国家对外债实行登记制度。 境内机构应当按照国务院关于外债统计监测的规定办理外债登记。 国务院外汇管理部门负责全国的外债统计与监测，并定期公布外债情况。 第二十六条 依法终止的外商投资企业，按照国家有关规定进行清算、纳税后，属于外方投资者所有的人民币，可以向外汇指定银行购汇汇出或者携带出境；属于中方投资者所有的外汇，应当全部卖给外汇指定银行。 第四章 金融机构外汇业务 第二十七条 金融机构经营外汇业务须经外汇管理机关批准，领取经营外汇业务许可证。 未经外汇管理机关批准，任何单位和个人不得经营外汇业务。经批准经营外汇业务的金融机构，经营外汇业务不得超出批准的范围。 第二十八条 经营外汇业务的金融机构应当按照国家有关规定为客户开立外汇帐户，办理有关外汇业务。 第二十九条 金融机构经营外汇业务，应当按照国家有关规定交存外汇存款准备金，遵守外汇资产负债比例管理的规定，并建立呆帐准备金。 第三十条 外汇指定银行办理结汇业务所需的人民币资金，应当使用自有资金。 外汇指定银行的结算周转外汇，实行比例幅度管理，具体幅度由中国人民银行根据实际情况核定。 第三十一条 金融机构经营外汇业务，应当接受外汇管理机关的检查、监督。 经营外汇业务的金融机构应当向外汇管理机关报送外汇资产负债表、损益表以及其他财务会计报表和资料。 第三十二条 金融机构终止经营外汇业务，应当向外汇管理机关提出申请。金融机构经批准终止经营外汇业务的，应当依法进行外汇债权、债务的清算，并缴销经营外汇业务许可证。 第五章 人民币汇率和外汇市场 第三十三条 人民币汇率实行以市场供求为基础的、单一的、有管理的浮动汇率制度。 中国人民银行根据银行间外汇市场形成的价格，公布人民币对主要外币的汇率。 第三十四条 外汇市场交易应当遵循公开、公平、公正和诚实信用的原则。 第三十五条 外汇市场交易的币种和形式由国务院外汇管理部门规定和调整。 第三十六条 外汇指定银行和经营外汇业务的其他金融机构是银行间外汇市场的交易者。 外汇指定银行和经营外汇业务的其他金融机构，应当根据中国人民银行公布的汇率和规定的浮动范围，确定对客户的外汇买卖价格，办理外汇买卖业务。 第三十七条 国务院外汇管理部门依法监督管理全国的外汇市场。 第三十八条 中国人民银行根据货币>策的要求和外汇市场的变化，依法对外汇市场进行调控。 第六章 法律责任 第三十九条 有下列逃汇行为之一的，由外汇管理机关责令限期调回外汇，强制收兑，并处逃汇金额30%以上5倍以下的罚款；构成犯罪的，依法追究刑事责任： (一)违反国家规定，擅自将外汇存放在境外的； (二)不按照国家规定将外汇卖给外汇指定银行的； (三)违反国家规定将外汇汇出或者携带出境的； (四)未经外汇管理机关批准，擅自将外币存款凭证、外币有价证券携带或者邮寄出境的； (五)其他逃汇行为。 第四十条 有下列非法套汇行为之一的，由外汇管理机关给予警告，强制收兑，并处非法套汇金额30%以上3倍以下的罚款；构成犯罪的，依法追究刑事责任： (一)违反国家规定，以人民币支付或者以实物偿付应当以外汇支付的进口货款或者其他类似支出的； (二)以人民币为他人支付在境内的费用，由对方付给外汇的； (三)未经外汇管理机关批准，境外投资者以人民币或者境内所购物资在境内进行投资的； (四)以虚假或者无效的凭证、合同、单据等向外汇指定银行骗购外汇的； (五)非法套汇的其他行为。 第四十一条 未经外汇管理机关批准，擅自经营外汇业务的，由外汇管理机关没收违法所得，并予以取缔；构成犯罪的，依法追究刑事责任。 经营外汇业务的金融机构擅自超出批准的范围经营外汇业务的，由外汇管理机关责令改正，有违法所得的，没收违法所得，并处违法所得1倍以上5倍以下的罚款；没有违法所得的，处10万元以上50万元以下的罚款；情节严重或者逾期不改正的，由外汇管理机关责令整顿或者吊销经营外汇业务许可证；构成犯罪的，依法追究刑事责任。 第四十二条 外汇指定银行未按照国家规定办理结汇、售汇业务的，由外汇管理机关责令改正，通报批评，没收违法所得，并处10万元以上50万元以下的罚款；情节严重的，停止其办理结汇、售汇业务。 第四十三条 经营外汇业务的金融机构违反人民币汇率管理、外汇存贷款利率管理或者外汇交易市场管理的，由外汇管理机关责令改正，通报批评，有违法所得的，没收违法所得，并处违法所得1倍以上5倍以下的罚款；没有违法所得的，处10万元以上50万元以下的罚款；情节严重的，由外汇管理机关责令整顿或者吊销经营外汇业务许可证。 第四十四条 境内机构有下列违反外债管理行为之一的，由外汇管理机关给予警告，通报批评，并处10万元以上50万元以下的罚款；构成犯罪的，依法追究刑事责任： (一)擅自办理对外借款的； (二)违反国家有关规定，擅自在境外发行外币债券的； (三)违反国家有关规定，擅自提供对外担保的； (四)有违反外债管理的其他行为的。 第四十五条 境内机构有下列非法使用外汇行为之一的，由外汇管理机关责令改正，强制收兑，没收违法所得，并处违法外汇金额等值以下的罚款；构成犯罪的，依法追究刑事责任： (一)以外币在境内计价结算的； (二)擅自以外汇作质押的； (三)私自改变外汇用途的； (四)非法使用外汇的其他行为。 第四十六条 私自买卖外汇、变相买卖外汇或者倒买倒卖外汇的，由外汇管理机关给予警告，强制收兑，没收违法所得，并处违法外汇金额30%以上3倍以下的罚款；构成犯罪的，依法追究刑事责任。 第四十七条 境内机构违反外汇帐户管理规定，擅自在境内、境外开立外汇帐户的，出借、串用、转让外汇帐户的，或者擅自改变外汇帐户使用范围的，由外汇管理机关责令改正，撤销外汇帐户，通报批评，并处5万元以上30万元以下的罚款。 第四十八条 境内机构违反外汇核销管理规定，伪造、涂改、出借、转让或者重复使用进出口核销单证的，或者未按规定办理核销手续的，由外汇管理机关给予警告，通报批评，没收违法所得，并处5万元以上30万元以下的罚款；构成犯罪的，依法追究刑事责任。 第四十九条 经营外汇业务的金融机构违反本条例第二十九条、第三十一条规定的，由外汇管理机关责令改正，通报批评，并处5万元以上30万元以下的罚款。 第五十条 当事人对外汇管理机关的处罚决定不服的，可以自收到处罚决定通知书之日起15日内向上一级外汇管理机关申请复议；上一级外汇管理机关应当自收到复议申请书之日起2个月内作出复议决定。当事人对复议决定仍不服的，可以依法向人民法院提起诉讼。 第五十一条 境内机构违反外汇管理规定的，除依照本条例给予处罚外，对直接负责的主管人员和其他直接责任人员，应当给予纪律处分；构成犯罪的，依法追究刑事责任。 第七章 附 则 第五十二条 本条例下列用语的含义： (一)"境内机构"是指中华人民共和国境内的企业事业单位、国家机关、社会团体、部队等，包括外商投资企业。 (二)"外汇指定银行"是指经外汇管理机关批准经营结汇和售汇业务的银行。 (三)"个人"是指中国公民和在中华人民共和国境内居住满1年的外国人。 (四)"驻华机构"是指外国驻华外交机构、领事机构、国际组织驻华代表机构、外国驻华商务机构和国外民间组织驻华业务机构等。 (五)"来华人员"是指驻华机构的常驻人员、短期入境的外国人、应聘在境内机构工作的外国人以及外国留学生等。 (六)"经常项目"是指国际收支中经常发生的交易项目，包括贸易收支、劳务收支、单方面转移等。 (七)"资本项目"是指国际收支中因资本输出和输入而产生的资产与负债的增减项目，包括直接投资、各类贷款、证券投资等。 第五十三条 保税区的外汇管理办法，由国务院外汇管理部门另行制定。 第五十四条 边境贸易和边民互市的外汇管理办法，由国务院外汇管理部门根据本条例规定的原则另行制定。 第五十五条 本条例自1996年4月1日起施行。1980年12月18日国务院发布的《中华人民共和国外汇管理暂行条例》及其配套的细则同时废止。 REGULATIONS ON THE FOREIGN EXCHANGE SYSTEM OF THE PEOPLE'S REPUB-LIC OF CHINA (Issued on April 4, 1996, modified on January 14, 1997) Whole document Chapter I General provisions Article 1 These regulations are formulated with a view to improving the management of the exchange system, maintaining an equilibrium in the balance of payments and promoting sound economic growth. Article 2 The government agencies of the State Council in charge of the administration of the exchange system and their local offices (hereafter the exchange administration agencies for both) shall exercise exchange management in accordance with the law and assume the responsibility for the implementation of the regulations. Article 3 Foreign exchange as referred to in the regulations includes means of payments and assets denominated in foreign currency for international settlement as the following: 1. foreign currencies, including bank notes and coins; 2. payment instruments denominated in foreign currency, including bills, bank certificate of deposit and certificate of postal deposit etc. 3. securities denominated in foreign currency, including government bonds, corporate debentures and stocks etc.; 4. Special Drawing Rights and European Currency Units; and 5. other assets denominated in foreign currency. Article 4 The payment in and transfer of foreign exchange for current international transactions shall not be subject to the government control or restriction. Article 5 The regulations shall govern all activities related to the receipts and payments of foreign exchange as well as foreign exchange operations of domestic entities, individuals, foreign establishments, and foreign nationals in China. Article 6 The government adopts a reporting system for balance of payments statistics. All entities and individuals involved in balance of payments transactions shall fulfill their obligations for reporting balance of payments statistics. Article 7 Foreign currency is prohibited for circulation and shall not be quoted for pricing or settlement in the territory of the People's Republic of China. Article 8 All entities and individuals shall have the right to reveal or expose any activities in violation of the regulations on exchange management. All entities and individuals who reveal, expose or assist in stopping various activities in violation of exchange regulations on exchange management shall be rewarded and the confidentiality of their identity shall be ensured. Chapter II Foreign exchange for current account transactions Article 9 All foreign exchange receipts of domestic entities for current account transactions shall be repatriated and shall not be deposited abroad in violation of the relevant government regulations without authorization. Article 10 All foreign exchange receipts for current account transactions shall be sold to the designated foreign exchange banks in accordance with the regulations issued by the State Council on the sale and purchase of foreign exchange and making payments in foreign exchange, and such receipts may also be upon approval, deposited in the foreign exchange account at the designated banks for foreign exchange operations. Article 11 Purchase of foreign exchange for current account transactions shall be conducted with the designated foreign exchange banks, in accordance with the regulations issued by the State Council on the sale and purchase of foreign exchange and making payments in foreign exchange, upon the presentation of valid documents and commercial bills. Article 12 The collection of export proceeds and the payments for imports in foreign exchange by domestic entities shall be processed in accordance with the relevant government regulations governing the verification procedures for export proceeds and import payments. Article 13 Foreign exchange owned by individuals can be held at their own discretion, deposited in banks or sold to the designated foreign exchange banks. Individuals' foreign exchange savings deposit shall be placed with banks on a voluntary basis, withdrawn freely and bear interest with confidentiality for depositors' identity ensured. Article 14 The purchase of foreign exchange for personal travel abroad and other miscellaneous expenses shall be granted within the specified limit. Individuals may apply for the purchase of foreign exchange over and above the limit at the government agencies in charge of foreign exchange. And the request for such purchase shall be approved if it proves to be for bona fide transactions. Individuals carrying foreign exchange into or out of China shall declare their foreign exchange in the customs office. Individuals shall present to the customs office valid documents for carrying a large sum of foreign exchange exceeding the specified limit. Article 15 The remittance and/or carrying of foreign exchange abroad for such income derived from the possession of assets in China shall be granted upon the presentation of the specific certifying documents at the designated foreign exchange banks. Article 16 Foreign assets held by Chinese citizens residing in China in the form of payment instruments and securities denominated in foreign currency etc. shall not be taken or sent abroad without authorization of the exchange administration agencies. Article 17 The purchase of and payment in foreign exchange abroad for the legitimate income in Renminbi for foreign establishments and foreign nationals in China shall be granted upon the presentation of the supporting documents and statement of charges at the designated foreign exchange banks. Article 18 Foreign exchange sent or carried in by foreign establishments and foreign nationals in China can be held at their own discretion, deposited in designated banks or sold to the designated foreign exchange banks. Such foreign exchange can also be remitted or taken abroad upon the presentation of valid documents. Chapter III Foreign exchange for capital account transactions Article 19 Unless otherwise specified by the State Council, all foreign exchange receipts for capital account transactions shall be repatriated. Article 20 All foreign exchange receipts for capital account transactions shall be placed in the foreign exchange account at the designated foreign exchange banks in accordance with the relevant government regulations; such receipts can be also sold to the designated foreign exchange banks upon the approval by the exchange administration agencies. Article 21 The source of foreign exchange for overseas investment by domestic entities shall be reviewed by the exchange administration agencies before the application for such investments is filed for approval by the relevant government agencies. If approval is granted, remittance of funds shall then take place in accordance with the regulations on overseas investment issued by the State Council. Article 22 External borrowing in loans shall be undertaken in accordance with the relevant regulations by the government agencies designated by the State Council, financial institutions and other enterprises duly authorized by government agencies of the State Council in charge of exchange administration. External borrowing in loans by foreign-funded enterprises shall be filed with the exchange administration agencies for records. Article 23 The issue of bonds abroad denominated in foreign currency by financial institutions requires the approval by the government agencies of the State Council in charge of exchange administration before the issue proceeds in accordance with the relevant government regulations. Article 24 External guarantee shall only be offered by qualified financial institutions and enterprises meeting the government requirements and subject to the approval by the exchange administration agencies. Article 25 The government adopts a registration system for external debt. All domestic entities shall register external debt in accordance with the regulations formulated by the State Council on monitoring statistics of external debt. The government agencies of the State Council in charge of exchange administration shall take the responsibility for collecting and monitoring statistics of external debt and publish these statistics on a regular basis. Article 26 The currency holding denominated in Renminbi belonging to the foreign counterparts of foreign-funded enterprises, having been terminated in accordance with the law, can be converted into foreign exchange at the designated foreign exchange banks and then sent or taken abroad after the liquidation and tax payments. All the foreign exchange belonging to the Chinese counterpart investors shall be sold to the designated foreign exchange banks. Chapter IV Foreign exchange operations for financial institutions Article 27 Financial institutions shall have the approval by the exchange administration agencies for conducting foreign exchange transactions, and a license for such operations is also required. No entities or individuals are allowed to undertake foreign exchange operations without the approval by the exchange administration agencies. Financial institutions duly authorized for foreign exchange operations shall never operate beyond the approved business scope. Article 28 Financial institutions duly authorized for foreign exchange operations shall open foreign exchange accounts for their clients and conduct business operations in accordance with the relevant government regulations. Article 29 Financial institutions undertaking foreign exchange operations shall be subject to the reserve requirement for foreign exchange in accordance with the relevant government regulations, comply with the regulations on asset and liability ratios concerning their foreign exchange operations and set aside provisioning reserves. Article 30 Designated foreign exchange banks shall use their own-funds in Renminbi to purchase foreign exchange. The foreign exchange revolving funds used by designated foreign exchange banks for settlement shall be within a specified limit, the magnitude of which shall be decided upon by the People's Bank of China in consideration of the actual circumstances. Article 31 The foreign exchange operations by financial institutions are subject to inspection and supervision by the exchange administration agencies. Financial institutions undertaking foreign exchange operations shall submit to the exchange administration agencies the balance sheet, income statement, other financial reports and information for foreign exchange operations. Article 32 Financial institutions shall file with the exchange administration agencies for the termination of foreign exchange operations. Once the termination of foreign exchange operations is approved, these financial institutions shall settle their claims and liabilities in foreign currencies and have their license for foreign exchange operations revoked. Chapter V Renminbi exchange rate and foreign exchange market Article 33 The exchange rate for Renminbi is a single, managed floating exchange rate based on market demand and supply. The People's Bank of China announces the exchange rate of Renminbi against major currencies on the basis of the prevailing exchange rates in the inter-bank foreign exchange market. Article 34 The trading of foreign exchange in the market shall comply with the principle that advocates transparency, openness, fairness, and honesty. Article 35 The number of currencies traded in the market and the trading methods are decided upon and reviewed by the government agencies of the State Council in charge of the administration of the exchange system. Article 36 Designated foreign exchange banks and other financial institutions involved in foreign exchange operations are dealers in the inter-bank foreign exchange market. Based on the exchange rates announced by the Peoples Bank of China and the specified margins, designated foreign exchange banks and other financial institutions undertaking foreign exchange operations can quote the buying rate and selling rate for their clients and conduct the trading of foreign exchange accordingly. Article 37 The government the agencies of the State Council in charge of the administration of exchange system shall supervise the foreign exchange market cross the country in accordance with the law. Article 38 In light of the orientation of monetary policy and the developments in foreign exchange market, the People's Bank of China shall regulate foreign exchange market in accordance with the law. Chapter VI Legal responsibilities Article 39 To penalize the evasion scheme listed as follows, the exchange administration agencies shall order the foreign exchange in question to be repatriated, impose its conversion and place a penalty fine in the range of more than 30 percent and less then 5 times the amount of foreign exchange under the evasion scheme. In case of criminal offense, a criminal suit shall proceed: 1. to place foreign exchange deposit abroad without authorization and in violation of government regulations; 2. to act in defiance of the government regulations on the sale of foreign exchange to the designated foreign exchange banks; 3. to remit or take foreign exchange abroad in violation of the government regulations; 4. to take or mail abroad through postal services certificates of foreign exchange deposit and securities denominated in foreign currencies without authorization of the exchange administration agencies; and 5. other types of exchange evasion scheme. Article 40 to penalize the illegal exchange arbitrage listed as follows, the exchange administration agencies shall serve a warning, impose the conversion of foreign exchange and place a penalty fine in the range of more than 30 percent and less then 5 times the amount of foreign exchange under the arbitrage scheme. In case of criminal offense, a criminal suit shall proceed: 1. to pay, in violation of the government regulations, in Renminbi or in kind for imports that require payment in foreign exchange or for other similar types of expenses; 2. to pay in Renminbi for local expenses on behalf others and get paid back in turn in foreign exchange; 3. to invest in China on the part of overseas investors in Renminbi or with goods purchased locally without authorization of the exchange administration agencies; 4. to purchase foreign exchange from designated foreign exchange banks with invalid documents, contracts and bills; and 5. other types of illegal arbitrage activities. Article 41 The exchange administration agencies shall confiscate the illegal income generated from unauthorized foreign exchange operations undertaking without approval by the exchange administration agencies and order the stop of such operations. In case of criminal offense, a criminal suit shall proceed. The exchange administration agencies shall order the financial institutions that conduct any activities without authorization beyond the prescribed business scope for foreign exchange operations to redress the case, confiscate the illegal income, if any, and impose a penalty fine in the range of one to five times the amount of the illegal foreign exchange income; if no illegal income is involved, a penalty fine of 100, 000 to 500, 000 Yuan shall be imposed. In case of serious offense or failure to redress the case in time, the exchange administration agencies shall order these institutions to rectify their business or revoke their license for foreign exchange operations. In case of criminal offense, a criminal suit shall proceed. Article 42 In case that designated foreign exchange banks fail to comply with the government regulations on the sale and purchase of foreign exchange, the exchange administration agencies shall order the banks to redress the case, issue a public reprimand, confiscate the illegal income and impose a penalty fine in the range of 100, 000 to 500, 000 Yuan. In case of serious offense, operations for the sale and purchase of foreign exchange shall be suspended. Article 43 In case that financial institutions act in violation of the regulations governing exchange rate, deposit and lending rates for foreign exchange and operations in foreign exchange market, the exchange administration agencies shall order the institutions to redress the case, issue a public reprimand, confiscate the illegal income and impose a penalty fine in range of one to five times the amount of the illegal income in question. If no illegal income is involved, a penalty fine in the range of 100, 000 to 500, 000 Yuan shall be imposed. In case of serious offense, the exchange administration agencies shall order the institutions to rectify their business or revoke their license for foreign exchange operations. Article 44 To penalized any activity listed as follows undertaken by domestic entities in violation of the regulations governing external debt, the exchange administration agencies shall serve a warning, issue a public reprimand and impose a penalty fine in the range of 100, 000 to 500, 000 Yuan. In case of criminal offense, a criminal suit shall proceed: 1. to process external borrowing without authorization; 2. to issue bonds denominated in foreign currency abroad without authorization and in violation of the relevant government regulations; 3. to provide guarantee for external obligations without authorization and in violation of the relevant government regulations; and 4. other activities in violation of the regulations on external debt. Article 45 In case that the domestic entities undertake any activity involving illicit use of foreign exchange listed as follows, the exchange administration agencies shall order these entities to redress the case, impose the conversion of foreign exchange, confiscate the illegal income and impose a penalty fine no more than the equivalent amount of foreign exchange in question. In case of criminal offense, a criminal suit shall proceed: 1. to use foreign exchange in China for pricing or settlement; 2. to pledge foreign exchange in lien without authorization; and 3. to change the designated use of foreign exchange without authorization; and 4. other types of illicit use of foreign exchange. Article 46 To penalize unauthorized trading, disguised trading and illicit merchanting of foreign exchange, the exchange administration agencies shall serve a warning, impose the conversion of foreign exchange, and place a penalty fine in the range of more than 30 percent of and less than 3 times the amount of the foreign exchange in question. In case of criminal offense, a criminal suit shall proceed. Article 47 In case that domestic entities open foreign exchange accounts in China or abroad without authorization, rent, transfer of arbitrage foreign exchange accounts in violation or the regulations governing foreign exchange account or use the foreign exchange beyond the designated purpose without authorization, the exchange administration agencies shall order these entities to redress the case, close the foreign exchange accounts, issue a public reprimand and impose a penalty fine in range of 50, 000 to 3000, 000 Yuan. Article 48 In case that domestic entities forge, alter, rent, transfer or make a multiple use of the verification certificate for import payment and export proceeds in violation of the regulations governing the verification procedures for foreign exchange, or fail to comply with verification procedures prescribed by the relevant regulations, the exchange administration agencies shall serve a warning, issue a public reprimand, confiscate the illegal income and impose a penalty fine in the range of 50, 000 to 300, 000 Yuan. In case of criminal offense, a criminal suit shall proceed. Article 49 In case that financial institutions, duly authorized to undertake foreign exchange operations, act in violation of the Article 29 and 31, the exchange administration agencies shall order these institutions to redress the case, issue a public reprimand and impose a penalty fine in the range of 50, 000 to 300, 000 Yuan. Article 50 If the party penalized for violation contests the verdict and the penalty imposed by the exchange administration agencies, the party may appeal to the exchange administration agencies at the immediate higher level to review the case within 15 days after receiving the penalty notice; the exchange administration agencies at the immediate higher level shall decide on the review within two months after receiving the appeal for review. If the party contests the review decision, the party may appeal to the People's Court in accordance with the law. Article 51 Domestic entities acting in violation of the regulations on exchange management shall be penalized in accordance with these regulations; and the management and those directly responsible for the violation shall be disciplined. In case of criminal offense, a criminal suit shall proceed. Chapter VII Ancillary provisions Article 52 The definitions of the terms in these regulations are as follows: 1. "domestic entities" refer to enterprises and pubic institutions, government agencies, social organizations and armed forces etc., including foreign-funded enterprises. 2. "designated foreign exchange banks" refer to banks duly authorized by the exchange administration agencies to undertake the sale and purchase of foreign exchange. 3. "individuals" refer to Chinese citizens and foreign nationals staying in China for more than one year. 4. "foreign establishments" in China refer to foreign diplomatic agencies in China, consulates, resident representative offices in China and offices of foreign non-government organizations in China etc.. 5. "foreign nationals" in China refer to resident staff members of foreign establishments in China, foreigners working for domestic entities in China and overseas foreign students etc. . 6. "current account transactions" refer to those components in the current account of the balance of payments, such as goods, services and unilateral transference.. 7. "capital account transactions" refer to the increase and decrease of assets and liabilities in the balance of payments as a result of the inflow and outflow of capital, including direct investment, loans and portfolio investment' etc.. Article 53 The exchange regulations governing bonded areas shall be formulated separately by the exchange administration agencies of the State Council. Article 54 The exchange regulations governing border trade and counter-trade of border residents shall be formulated separately by the exchange administration agencies of the State Council on the basis of these regulations. Article 55 These regulations shall take effect April 1, 1996. The Regulations on the Exchange System of the People's Republic of China issued by the State Council on December 18, 1980 and the related detailed rules shall be repealed at the same time. 颁布单位：国务院 | 
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