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(Approved by the State Council on November 10, 1991 and promulgated1 by the State Administration of Exchange Control on December 1, 1991) Article 1 These Measures are formulated2 to protect the economic interests of returned overseas Chinese, the family members of overseas Chinese and residents in China who have foreign exchange receipts, and to facilitate the use of foreign exchange by residents in China who are permitted to go abroad for private business. Article 2 Residents in China mentioned in these Measures refer to Chinese citizens residing in the People's Republic of China and foreigners (including stateless personnel) setting in the People's Republic of China. Article 3 Foreign exchange held by residents in China mentioned in these Measures refers to foreign exchange remittances4 from abroad to residents in China, their foreign currency deposits in domestic banks and foreign Currency cash in their possession. Foreign exchange to be used by residents in China going abroad for private business mentioned in these Measures refers to travelling and miscellaneous expenses in connection with their visits abroad to family members or relatives, their settlement abroad and their self paid study abroad; as well as the retirement5 pay, severance6 pay, subsidies7 for leave from work or pension for the disabled and the survivors9 and other expenses for those residents who go abroad for permanent residence. Article 4 When a resident in China receives the advice of remittance3 from abroad, he/she has the discretion10: (1) to sell the remittance to the foreign exchange swap11 center via the bank; (2) to deposit the remittance with the bank; (3) to sell the remittance to the bank at the exchange rate published by the State Administration of Exchange Control, and get certificates of overseas Chinese remittances from the bank. Article 5 The local branch office of the State Administration of Exchange Control shall designate a bank, on behalf of the local foreign exchange swap center, to buy the foreign exchange from residents in China or sell the foreign exchange to those going abroad for private business. Article 6 Foreign exchange deposits of, or cash held by, residents in China may be sold to the foreign exchange swap center through the bank. The bank shall, at the buying rate for swap advised by the local branch office of the State Administration of Exchange Control, purchase the US dollars or HK dollars from residents in China, and at the selling rate for swap, sell the needed amounts of such currencies to the residents in China. When residents in China sell foreign currencies other than US dollars and HK dollars to the bank, the bank shall first, at the foreign exchange rate published by the State Administration of Exchange Control, convert them into US dollars, and then buy them at the buying rate for swap. The bank shall only sell US dollars and HK dollars for residents in China going abroad for private business. Article 7 At the time of applying for foreign exchange by swap, a resident in China going abroad for private business shall present the following papers: (1) passport affixed12 with valid13 visa by the country of destination and exit register card; (2) one way or two-way pass to Hong Kong or Macao; (3) for a foreigner settling in China, foreigner residence permit indicated with the character “QIAO”(Editer: QIAO ——Chinese character) and passport affixed with two-way visa or exit-entry permit for foreigners; and (4) for a resident in China going abroad for permanent residence, certificate issued by relevant unit above the county level (county level included); or, for the jobless, certificate issued by people's government of township or town or the urban sub district office. Article 8 The quotas14 for the foreign exchange to be purchased by residents in China going abroad for permanent residence are as follows: (1) The total amount of retirement pay, severance pay, subsidies for leave from work or pension for the disabled and for the survivor8 in Renminbi may all be converted into foreign currency; in case the amount of subsidies for leave from work is below US$ 200, an amount of US$ 200 may be bought; (2) After a resident is permitted to settle abroad, he/she may buy with retirement pay, severance pay, subsidies for leave from work or pension for the disabled and for the survivors received in China, against his/her residence permit abroad and the valid evidence of being alive, foreign currencies every six months at the rate for swap; (3) Jobless residents in China going abroad for permanent residence may buy US$ 200. Article 9 Where international flight, train or ship tickets are to be bought in foreign exchange, the bank shall allow exiting residents to buy a sufficient amount of foreign exchange to cover the expenses for the tickets from the departing place to the destination. Article 10 Residents in China may buy an amount of foreign exchange enough to cover the actual membership fee for any international academic society or the candidate fee for test of foreign language proficiency15. Article 11 To cover miscellaneous expenses on their visits to family members or relatives abroad, on their permanent residence abroad, on their visits to family members or relatives in Taiwan, on their meeting with family members or relatives in Hong Kong or Macao, on their self-paid study abroad, and on their self-paid participation16 in international academic conferences, exiting residents may buy foreign exchange for an amount up to the standard set by the State Administration of Exchange Control. Article 12 The bank must sell the foreign exchange at the rate for swap strictly17 in accordance with the stipulated18 items and standards, in case of violations19 of these Measures, the responsibility of the violators directly involved and that of the relevant leaders shall be investigated and due punishments shall be imposed. Article 13 These Measures shall be interpreted by the State Administration of Exchange Control. Article 14 These Measures shall go into force as of the date of promulgation 点击收听单词发音
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