Foreign Exchange Bureau: Relaxation of repayment of foreign exchange loans for domestic foreign exchange loans with export background

Foreign Exchange Bureau: Relaxation of repayment of foreign exchange loans for domestic foreign exchange loans with export background
桑拿夜网讯 4月14日,国家外汇管理局发布关于优化外汇管理支持涉外业务发展的通知,全文如下: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Ningbo Municipal Branch; National Chinese banks: In order to further improve the business environment and serve the high-quality development of the real economy, the State Administration of Foreign Exchange decided to optimize foreign exchange business management, improve foreign exchange service methods, and increase the level of cross-border trade and investment facilitation.The relevant matters are hereby notified as follows: 1. Optimizing the management of foreign exchange business (1) Facilitating the reform of the nationwide promotion of capital account income payment facilitation.On the premise of ensuring that the use of funds is truly compliant and in compliance with the current capital project income use management regulations, allowing qualified enterprises to use capital project income such as capital, foreign debt and overseas listings for domestic payments, there is no need to provide the bank one by one in advanceProof of authenticity.The handling bank shall follow the principle of prudent business development to control related business risks, and conduct post-spot checks on the convenience of capital project income payment and facilitation business in accordance with relevant requirements.The local foreign exchange bureau should strengthen monitoring and analysis and supervision after the event.(2) Cancel the registration of special remittance business.The foreign trade income and expenditure enterprise list of goods trade is classified as Class A. The interval between the date of the remittance and the original receipt and payment date of a single equivalent of 50,000 US dollars (inclusive) is more than 180 days (excluding) or it is impossible due to special circumstances.The business of repatriating foreign exchange on the same route can be directly handled at a financial institution without going to the foreign exchange bureau to go through registration procedures.Financial institutions should indicate “special remittances” in the postscript for foreign-related income and expenditure declaration transactions when handling the above-mentioned exemption remittance business for enterprises.(3) Simplify the business registration management of some capital projects.De-register the eligible domestic guarantee and foreign loans and cancellation of overseas loans to banks for processing.Non-financial enterprises that have fulfilled their internal guarantee and external loan obligations and have not performed internal guarantee and external loan performance can go directly to the bank within their jurisdiction (foreign exchange management department) to handle the cancellation of internal guarantee and external loan registration.Non-financial enterprises that have expired the overseas lending period and normally recovered the principal and interest of the overseas lending can go directly to the bank within the jurisdiction of their sub-bureau (Foreign Exchange Management Department) to directly register the cancellation of the overseas lending.(4) Relaxation of repayment of foreign exchange loans for domestic foreign exchange loans with export background.If domestic foreign exchange loans, such as export bills, enter the current account foreign exchange settlement account and handle foreign exchange settlement in accordance with regulations, the enterprise shall in principle repay with its own foreign exchange or foreign exchange receipts for goods trade.When an enterprise ‘s export is indeed unable to collect foreign exchange on time and no other foreign exchange funds are available to repay the domestic foreign exchange loan mentioned above, the loan bank may go through the repayment procedures for the foreign exchange purchase of the enterprise in accordance with the principle of prudent business development and submit it to the local foreign exchange bureau within the first 5 working daysReport relevant information.2. Improve foreign exchange business services (5) Facilitate the use of electronic documents in foreign exchange business.If a bank handles foreign exchange receipts and payments of goods trade by reviewing electronic documents in accordance with regulations, the conditions for classifying the enterprise as Class A and having been established for 2 years shall be cancelled.Banks who handle foreign exchange receipts and payments for service trade, primary income, and secondary income in accordance with regulations in the form of reviewing electronic documents may not print electronic transaction documents.Banks do not need to print the “settlement / purchase notice” when handling personal foreign exchange settlement and sale business.The bank shall ensure the authenticity, compliance and uniqueness of the electronic documents for the above-mentioned business, and keep the electronic documents or electronic information for 5 years for future reference.(6) Optimize the foreign exchange settlement of banks’ cross-border e-commerce.Support more banks in accordance with the<支付机构外汇业务管理办法>Notice (Hui Fa[2019]No. 13), providing the settlement and sale of foreign exchange and related fund collection and payment services for cross-border e-commerce market entities based on transaction electronic information under the conditions of transaction information collection and authenticity review.(7) Relax the business endorsement procedures.When reviewing foreign exchange receipts and expenditures of current items in accordance with regulations, financial institutions may, according to internal control requirements and actual business needs, and in accordance with the principle of substantive compliance, independently decide whether to sign the amount and date of receipt and payment of foreign exchange on the original document and affix a business seal, butThe audit materials shall be kept for future reference according to the current regulations.(8) Support banks’ innovative financial services.Encourage banks to scientifically assess corporate credit status in a variety of ways, classify enterprises that are difficult to receive and pay for foreign businesses through objective and uncontrollable factors, and give small and medium-sized foreign-funded enterprises with good development prospects preferential loan extensions and simplified procedures for foreign exchange loans.Support banks to use information such as corporate credit, exchange rates and exchange rates open to digital foreign management platforms to develop compliant operations and business innovations, and provide financial services to small, medium, and micro-sized foreign-related companies.This notice will be implemented from the date of issuance (of which, the first paragraph of Article 3 shall be upgraded to the capital account information system as of June 1, 2020).