Notice of the Ministry of Finance and the State Administration of Foreign Exchange on Improving the Ways of the Foreign Exchange Administration for On-lending Loans of International Financial Organizations in Certain Regions

财政部、国家外汇管理局关于改进部分地区国际金融组织转贷款项目外汇管理方式的通知

Promulgating Institution: Ministry of Finance; State Administration of Foreign Exchange

Promulgating Date: 04/02/2010

Effective Date:04/02/2010

颁布机关:财政部; 国家外汇管理局

颁布时间: 04/02/2010

实施时间: 04/02/2010

Text

正文

To the finance departments (bureaus) of each province, autonomous region, municipality directly under the Central Government (excluding Tibet), the SAFE branches and foreign exchange administration departments of each province, autonomous region, and municipality directly under the Central Government, and the SAFE branches in Shenzhen, Dalian, Qingdao, Xiamen, and Ningbo:

In order to improve the on-lending loan registration and the administration of remittance, simplify the foreign exchange control procedures, and facilitate trade and investment, the Ministry of Finance and the State Administration of Foreign Exchange decide to reform the way of foreign exchange control for on-lending loans in certain regions (See Annex 1: The List of First-Batch Regions Covered by Reform on Way of Foreign Exchange Administration for On-lending Loans) according to the mode of "centralized registration, centralized settlement of foreign exchange, and centralized purchase of foreign exchange", that is, the provincial finance departments shall handle the formalities related to the registration of on-lending loans, settlement and purchase of foreign exchange in a uniform manner on behalf of the finance departments below the provincial level and the project organizations. The relevant issues are hereby announced:

    各省、自治区、直辖市、计划单列市财政厅（局）（西藏不发），国家外汇管理局各省、自治区、直辖市分局、外汇管理部，深圳、大连、青岛、厦门和宁波市分局：

    为完善财政转贷款登记和汇兑管理，简化外汇管理程序，促进贸易和投资便利化，财政部、国家外汇管理局决定按照“统一登记、统一结汇、统一购汇”的模式，改革部分地区（见附件1:第一批纳入财政转贷款外汇管理方式改革范围的地区名单）财政转贷款外汇管理方式，由省级财政部门统一代理省级以下财政部门和项目单位办理转贷款资金的登记、结汇和购汇手续。现通知如下:

1. For the purposes of this Notice, on-lending loans shall mean the loans of international financial organizations that are raised from overseas by the Ministry of Finance in the name of the Central Government and for which the provincial finance departments act as the representatives of creditor's rights and debts for the local governments and assume the responsibilities of administration and repayment.

       一、本通知所称财政转贷款,是指由财政部代表中央政府统一对外筹措,由省级财政部门作为地方政府的债权债务代表,承担管理与偿还责任的国际金融组织转贷款。

2. Centralized registration of on-lending loans

The original practice that the finance departments (or finance bureaus) at all levels and project organizations (hereinafter referred to as "debtors") register each on-lending loan with the local SAFE branches or sub-branches (hereinafter referred to as "SAFE branch") through each level of authority is now to be changed. The provincial finance departments shall now, on a regular basis, handle the formalities for on-lending loans in a centralized manner, that is, the provincial finance departments shall complete and send the Monthly Report on Registration of Agreement Conclusion (Agreement Change) of On-lending Loans (See Annex 2) to the local SAFE branch. The finance departments below the provincial level and the project organizations are not required to go through the formalities for registration of on-lending loans with the local SAFE branch.

       二、财政转贷款统一登记

    改变原来由各级财政部门(财政厅、局)和项目单位(以下简称“债务人”)逐级到所在地国家外汇管理局分支局(以下简称“外汇局”)逐笔办理财政转贷款登记的做法,由省级财政部门定期集中办理财政转贷款登记手续,即省级财政部门定期向所在地外汇分局填报《财政转贷款签约(协议变更)登记月报表》(附件2)。省级以下财政部门和项目单位无需到所在地外汇局办理财政转贷款登记手续。

3. Centralized foreign exchange settlement for on-lending loans

According to the on-lending loan agreement and commercial contracts, where an ultimate debtor needs to exchange the on-lending loans into RMB for use, the relevant provincial finance department shall, by presenting the on-lending agreement and the withdrawal application, and other certification materials, go through the foreign exchange settlement formalities with the bank in a centralized manner according to the on-lending loan withdrawal progress, arrange the settled RMB funds paid to the debtors in accordance with the relevant provisions, and complete and send the Monthly Report on Change in On-lending Loans (Annex 4) to the local SAFE branch on a regular basis. The finance departments below the provincial level and the project organizations are not required to separately apply for the exchange settlement formalities with the local SAFE branch.

       三、财政转贷款统一结汇

    按照转贷协议和商务合同,最终债务人需将转贷款资金兑换为人民币使用的,由省级财政部门凭转贷协议和提款申请书等证明材料,按照转贷款资金的提款进度统一到开户银行办理结汇手续后,将结汇后的人民币按有关规定安排给债务人,并定期向所在地外汇分局填报《财政转贷款变动反馈月报表》(附件4)。省级以下财政部门和项目单位不再另外向当地外汇局申请办理结汇手续。

4. Centralized foreign exchange purchase for on-lending loans

If the finance departments below the provincial level and the project organizations intend to repay the principal plus interest of the on-lending loans with RMB funds, the relevant organizations shall transfer an equivalent amount of RMB funds to the provincial finance departments, and the provincial finance departments shall, by presenting the debt service notice of the creditor, go through the formalities for purchase of foreign exchange and repayment of loan with the bank, transfer the foreign exchange funds to the foreign exchange account or directly pay it to the creditor, and send the Monthly Report on Change of On-lending Loan to the local SAFE branch. The finance departments below the provincial level and the project organizations are not required to separately apply for the exchange settlement formalities with the local SAFE branch. The date when the provincial finance departments apply for purchase of foreign exchange shall not be earlier than the date for the next repayment of the principal plus interest by one month, and the amount of foreign exchange purchased shall not exceed the next two installments of principal plus interest to be repaid (except for repaying the debt).

       四、财政转贷款统一购汇

    省级以下财政部门和项目单位以人民币偿还财政转贷款还本付息资金的,相关单位将应归还外币的等额人民币资金上划至省级财政部门,由省级财政部门凭债权人还本付息通知书统一到开户银行办理购汇还款手续,将外汇资金划入外汇账户或直接支付给债权人,并定期向所在地外汇分局填报《财政转贷款变动反馈月报表》。省级以下财政部门和项目单位不再另外向当地外汇局申请办理购汇手续。

    省级财政部门申请购汇日期不应早于下一期还本付息日1个月,购汇额不应超过下两期还本付息额(用于偿还欠款的除外)。

5. Repaying the principal plus interest with self-owned foreign exchange or by means of financial deduction

The finance departments at all levels and the project organizations that intend to repay the on-lending loans with foreign exchange funds may, by presenting the debt service notice of the creditor, directly go through the repayment formalities with the bank, and the debt service funds shall be calculated separately within the foreign exchange account. If the Ministry of Finance repays the on-lending loans through centralized financial deduction, the provincial finance departments shall, by presenting the financial deduction notice of the Ministry of Finance, adjust the data of the on-lending loans in a timely manner, and, according to the status of foreign exchange repayment or financial deduction, complete and send the Monthly Report on Change of On-lending Loan to the local SAFE branch on a regular basis.

       五、以自有外汇或财政扣款方式还本付息

    各级财政部门和项目单位以外汇偿还财政转贷款的,可凭债权人还本付息通知书直接到开户银行办理还款手续,还本付息资金应在现有外汇账户内分账核算。由财政部统一扣款偿还财政转贷款的,省级财政部门应凭财政部扣款通知及时调整财政转贷款债务数据,并根据外汇偿还或扣款偿还情况定期向所在地外汇分局填报《财政转贷款变动反馈月报表》。

6. Special-purpose account of on-lending loans

The finance departments at all levels and the project organizations that need to retain or use the on-lending loan withdrawal funds in the form of foreign exchange may, by presenting the on-lending loan agreement and the account opening application, go through the formalities for opening the special-purpose account for on-lending loans. The funds for debt service may be calculated separately within the foreign exchange account. 

The revenue of the special-purpose account for on-lending loans shall include the revenue of the said on-lending loans, the debt repayment funds transferred by the finance departments at lower levels and project organizations, and the foreign exchange they have purchased with RMB funds for repaying the on-lending loans. The expenditure of the account shall include the expenditures under current items that are related to loan purposes, the approved expenditures under capital items, the foreign exchange funds to be allocated to the next lower level debtors, and the funds used for repaying the on-lending loans. The finance departments may, by presenting the withdrawal application, directly transfer the foreign exchange to the next lower level debtors at the bank. 

Opening a special-purpose account for on-lending loans at a different location must be subject to the approval of the relevant department in charge of foreign exchange control.

Where a finance department at any level or any project organization opens or closes the special-purpose account for on-lending loans in accordance with the aforesaid provisions, the bank shall, within the first ten working days of each month, complete and send the Monthly Report on Opening (Closing) Account for On-lending Loans and on Account Balance (Annex 3) to the relevant finance department or the SAFE branch at the place where the project organization is located.

       六、财政转贷款专用账户

    各级财政部门和项目单位需要以外汇形式保留和使用财政转贷款提款资金的,可凭转贷协议和开户申请直接到开户银行办理财政转贷款专用账户开户手续。还本付息资金可在财政转贷款专用账户中分账核算。

    财政转贷款专用账户的收入范围为该笔财政转贷款收入、下级财政部门或项目单位划入的偿债资金及用人民币购买的用于偿还财政转贷款的外汇,支出范围为与贷款用途有关的经常项下支出、经批准的资本项下支出、向下一级债务人拨付外汇资金以及偿还财政转贷款。财政部门可凭提款申请书到银行申请直接向下一级债务人办理外汇划转。

    异地开立财政转贷款专用账户须经外汇管理部门批准后方可办理。

    各级财政部门及项目单位按照上述规定开立、关闭财政转贷款专用账户的,开户银行应于每月初10个工作日内向财政部门或项目单位所在地外汇局填报《财政转贷款开(销)户及账户余额月报表》(附件3)。

7. Duties and responsibilities of relevant parties

The provincial finance departments shall, promptly, accurately, and completely, submit the Monthly Report on Registration of Agreement Conclusion (Agreement Change) of On-lending Loans and the Monthly Report on Change in On-lending Loans in both hard copy and electronic version to the local SAFE branch. The aforesaid reports shall be affixed with the signature of the relevant principal of the provincial finance department and the special-purpose seal of the department, and shall be submitted to the local SAFE branch within the first ten working days of each month.

The SAFE branch shall be responsible for the statistical monitoring and foreign exchange control of on-lending loans, and shall conduct off-site examination to the completeness and authenticity of the data materials submitted by the project organizations, and examine the registration of on-lending loans, account opening and cancellation, settlement and purchase of foreign exchange, debt service repayment, etc., of the relevant banks.

The finance departments at all levels shall strengthen the uniform administration of the bank accounts including the special-purpose accounts for on-lending loans. The banks shall, in accordance with the aforesaid provisions and other relevant laws, review the authenticity and compliance of the account opening, settlement of foreign exchange, purchase of foreign exchange, debt service repayment, related transfer of foreign exchange, under the on-lending loan items, and submit the Monthly Report on Opening (Closing) Account for On-lending Loans and Account Balance in accordance with the relevant provisions.

       七、相关各方职责

    省级财政部门应及时、准确、完整地向所在地外汇分局以纸质报表和电子报表报送《财政转贷款签约(协议变更)登记月报表》和《财政转贷款变动反馈月报表》。上述报表应经省级财政部门相关负责人签字并加盖业务专用章,并于每月初10个工作日内送所在地外汇分局。

    外汇局负责财政转贷款的统计监测和外汇管理,对各级财政部门及项目单位所报送数据材料的完整性和真实性进行非现场检查,对开户银行办理财政转贷款登记、开销户、结售汇及还本付息情况进行检查。

    各级财政部门应当加强财政转贷款专用账户等银行账户的统一归口管理。开户银行应按照上述规定及有关法规审核转贷款项下开户、结汇、购汇和还本付息和相关外汇划转的真实性与合规性,并按规定报送《财政转贷款开(销)户及账户余额月报表》。

8. Upon receipt of this Notice, the finance departments (bureaus) of the first batch of regions subject to reform on way of foreign exchange administration for on-lending loans shall, through negotiation with the local SAFE branches, determine the specific date for launching the reform, May 1, 2010, at the latest. After the specific date is determined, each relevant organization shall, in accordance with the reformed way of foreign exchange administration, go through the reporting and record filing formalities for registration, account opening and cancellation, debt service repayment, and other relevant data, relating to on-lending loans. The finance departments (bureaus) and the SAFE branches shall notify in advance the finance departments, departments in charge of foreign exchange control, designated foreign exchange banks, and project organizations within their jurisdiction, of the matters related to reform by way of foreign exchange control for on-lending loans, and shall do a good job to ensure the cohesion of relevant work and the data clearing related work during the transition period.

With regard to regions that are not covered in the first batch of regions for reform by way of foreign exchange administration for on-lending loans, the foreign exchange control formalities for the on-lending loans shall be handled according to the original way. With regard to regions that intend to carry out the reform on way of foreign exchange control for on-lending loans in accordance with the provisions of this Notice, the provincial finance departments and the local SAFE branches shall, after they have reached a consensus, report to the Ministry of Finance and the State Administration of Foreign Exchange for record filing respectively.

       八、各地财政厅(局)接到本文后,第一批纳入财政转贷款外汇管理方式改革地区的财政厅(局),应与所在地外汇分局协商确定在本地区开始实施财政转贷款外汇管理方式改革的具体日期,但最迟不晚于2010年5月1日。确定具体日期后,各相关单位应按照改革后的外汇管理方式办理外债转贷款的登记、开销户、结售汇、还本付息和相关数据报备手续。财政厅(局)和外汇分局应将财政转贷款外汇管理方式改革相关事宜分别提前通知辖内财政部门、外汇管理部门、外汇指定银行和项目单位,做好过渡期间相关工作的衔接和数据清理工作。

    未纳入第一批财政转贷款外汇管理方式改革范围的地区,其财政转贷款外汇管理手续仍按原有方式办理。拟按本文规定进行财政转贷款外汇管理方式改革的地区,可由省级财政部门与所在地外汇分局协商一致后,分别报财政部和国家外汇管理局备案。

Annex 1: The List of First-Batch Regions Covered by Reform on Way of Foreign Exchange Administration for On-lending Loans (omitted)

Annex 2: Monthly Report on Registration of Agreement Conclusion (Agreement Change) of On-lending Loans (omitted)

Annex 3: Monthly Report on Opening (Closing) Account for On-lending Loans and on Account Balance (omitted)

Annex 4: Monthly Report on Change in On-lending Loans (omitted)

   附件1：第一批纳入财政转贷款外汇管理方式改革范围的地区名单（略）

   附件2：财政转贷款签约（协议变更）登记月报表（略）

   附件3：财政转贷款开（销）户及账户余额月报表（略）

   附件4：财政转贷款变动反馈月报表（略）