（Approved by the State Council on June 17， 1987， promulgated¹ by the State Administration of Foreign Exchange Control on August 27， 1987）
颁布日期：19870827 　实施日期：19870827 　颁布单位：国家外汇管理局

　　Article 1 These Provisions are formulated² to enable the precise and complete collection of up-to-date information on the country's external debt so as to control the size of external borrowing effectively， raise the efficacy of using foreign funds and promote national economic development.

　　Article 2 The State institutes the policy of managing external debts by registration³. The State Administration of Foreign Exchange Control is in charge of establishing and perfecting the system of statistics on and supervision⁴ over the external debts of the country and publishing figures of the external debts.

　　Article 3 External debts mentioned in these Provisions refer to all the debts which are guaranteed by repayment⁵ contracts in foreign currency and are borrowed from international financial institutions， foreign governments， financial institutions， enterprises or other institutions located outside the People's Republic of China by enterprises， organizations， government establishments， financial institutions or other institutions （hereinafter referred to as borrowing units） in the People's Republic of China. They include the following：

　　（1） International financial institutions loans.

　　（2） Foreign government loans.

　　（3） Foreign bank and financial institutions loans.

　　（4） Buyer's credits.

　　（5） Foreign enterprise loans.

　　（6） Securities issued in foreign currency.

　　（7） International financial leases.

　　（8） Deferred⁶ payments.

　　（9） Debts repaid directly in foreign cash in compensation trade.

　　（10） External debts in other forms.

　　Funds borrowed in foreign currency by borrowing units from banks with foreign capital or Chinese and foreign joint⁷ banks which are registered in China are regarded as external debts.

　　Funds borrowed in foreign currency from abroad by banks with foreign capital or Chinese and foreign joint banks which are registered in China are not regarded as external debts.

　　Article 4 The registration of external debts shall take two forms； case-by-case registration and periodic registration.

　　The Registration Certificate for External Debts shall be prepared and issued by the State Administration of Foreign Exchange Control.

　　Article 5 Chinese-foreign Equity⁸ joint ventures， Chinese-foreign contractual joint ventures and foreign-capital enterprises are required， while borrowing from abroad， to register at and obtain a case-by-case Registration Certificate for External Debt from a local administrative⁹ department of foreign exchange control by submitting a duplicate of the loan contract to the department within 15 days after formally concluding the contract.

　　With regard to international financial institution loans， foreign government loans， external borrowing by the Bank of China or other authorized¹⁰ banks and financial institutions， the borrowing units concerned are required to register at and obtain a periodic Registration Certificate for External Debt from a local administrative department of foreign exchange control. Indirect lending shall not be included in the registration mentioned above in this paragraph.

　　Apart from the borrowing units mentioned above in this Article， other borrowing units are required to register at and obtain a case-by-case Registration Certificate for External Debts from a local administrative department of foreign exchange control by submitting an approval certificate for external borrowing and a duplicate of the loan contract to the department within 15 days after the formal conclusion of the contract.

　　Article 6 A borrowing unit is required， while transferring its external loan from a foreign country， to open a special foreign exchange cash account for external debt with the Bank of China or other banks authorized by the State Administration of Foreign Exchange Control （hereinafter referred to as banks） against the Registration Certificate for External Debt.

　　Borrowing units with approval to keep their external loans abroad and others whose loans do not have to be transferred into China are required to present their Registration Certificate for External Debt while opening special foreign exchange cash accounts for external debts to cover repayment and servicing.

　　Banks shall not open special foreign exchange cash accounts for external debts or special foreign exchange accounts for external debt repayment and servicing for borrowing units that have not obtained Registration Certificates for External Debt in accordance with the provisions， and the principals and interests of these units are not allowed to be remitted¹¹ abroad.

　　Article 7 When borrowing units making case-by-case registration repay and service their external debts， banks shall， on the strength of the Registration Certificate for External Debt and the approval certificate from the relevant departments of foreign exchange control provided by the borrowing units， conduct receipt and payment operations through the special foreign exchange cash account for external debt or the special foreign exchange cash account for external debt repayment and servicing. The borrowing units are required to fill in， in accordance with the certificates of receipt and payment issued by the banks， a Feedback Form on External Debt Changes with items of receipt and payment and submit a duplicate of the Form to the departments of foreign exchange control which issued the Registration Certificate for External Debt.

　　The borrowing units making periodic registration are required to submit monthly information concerning conclusion of contracts， withdrawal¹²， usage and repayment and servicing of external debts to the departments of foreign exchange control which issued the Registration Certificates for External Debt. Borrowing units with approval to keep their loans abroad are required to submit periodically information covering changes in their deposits to the departments of foreign exchange control that gave the approval.

　　Article 8 Once borrowing units fully¹³ clear their external debts as recorded in the Registration Certificate for External Debt， the banks concerned shall cancel the special foreign exchange cash accounts for external debt or the special foreign exchange cash accounts for external debt repayment and servicing of such borrowing units. The units， in turn， are required to submit to the local departments of foreign exchange control the Registration Certificates for External Debt for cancellation¹⁴ within 15 days.

　　Article 9 The local departments of foreign exchange control may impose， according to the circumstances， a fine not exceeding 3 per cent of the external debt involved on a unit that violates these Provisions in any of the following ways：

　　（1） purposely not registering or delaying registration for external debt；

　　（2） refusing to submit， concealing¹⁵， fraudulently submitting or， without special reasons， repeatedly delaying to submit the Feedback Form on External Debt Changes to the department of foreign exchange control concerned；

　　（3） forging or altering the Registration Certificate for External Debt；

　　（4） opening or keeping special foreign exchange accounts for external debt or special foreign exchange cash accounts for external debt repayment and servicing without approval.

　　Where the party concerned disagrees with the penalty decision， it may appeal to the department of foreign exchange control at the higher level.

　　Article 10 The authority to interpret these Provisions resides in the Administration of Foreign Exchange Control.

　　Article 11 These Provisions shall enter into force as of the date of promulgation¹⁶.

　　For those borrowing units which have uncleared external debts at the time of the promulgation of these Provisions， they are required to register at local departments of foreign exchange control within 30 days of the promulgation of these Provisions