汇发[1999]308号
颁布日期：19990914 　实施日期：19991001 　颁布单位：国家外汇管理局

　　HuiFa [1999] No.308

　　September 14, 1999

　　All branch of State Administration of Foreign Exchange,foreign exchange department of Beijing and Chongqing, sub-branch of Dalian, Qingdao, Ningbo, Xiamen, Shenzhen, all the China-invested designated foreign exchange banks:

　　To further improve foreign exchange administration of the outward remittance² of profits, stock dividends³ or stock bonuses by enterprises with foreign investment or by enterprises issuing stock abroad, the "Circular on Issues Concerning Outward Remittance of Profits, Stock dividends and Stock Bonuses Processed by Designated Foreign Exchange Banks" (hereinafter referred to as "the Circular") is amended⁴ as follows.

　　1. Article 5 of the Circular is revised to read: "No enterprises with foreign investment whose registered capital has not been fully⁵ paid in as provided by the articles of contract is allowed to remit¹ foreign exchange profits or stock bonuses abroad". If the delay in fully paying in registered capital as provided by the articles of contract is caused by special reasons, approval of the former inspection⁶ and approval institutions will be requested. Profits and stock bonuses distributed in accordance with the proportion of paid-in registered capital can be remitted⁷ abroad based on the approval documents issued by the former inspection and approval institutions and other documents specified⁸ in the Circular.

　　2. The following provision is inserted after Article 5 of the Circular: When a designated foreign exchange bank performs the procedures for outward remittance of foreign exchange stock dividends or bonuses for an enterprise issuing stock abroad, it must determine whether foreign exchange funds raised by the issuance of stock abroad have been repatriated¹⁰ by the enterprise issuing the stock abroad in accordance with the provisions of the Circular. If an enterprise issuing stock abroad has bona fide stock dividends or bonuses to remit but has failed to repatriate⁹ foreign exchange funds raised abroad by the issuance of stock, the designated foreign exchange bank shall first carry out for the enterprise the procedures for outward remittance of stock dividends or bonuses, then report the circumstances in timely fashion to SAFE, which will impose a penalty on the enterprise, in accordance with Article 39 of Regulations on Administration of Foreign Exchange, for unauthorized delay in repatriation¹¹ of receipts from issuance of stock abroad.

　　3. This Circular takes effect on October 1, 1999.

　　On receipt of this Circular, SAFE branches are requested to transmit it expeditiously¹² to their sub-branches, to financial institutions (including foreign-funded financial institutions), and to relevant organizations, and Chinese-funded designated foreign exchange banks are requested to transmit it to their branches. If problems arise during implementation¹³, it is requested that they be reported to SAFE in timely fashion.