Notice of the State Administration of Foreign Exchange on Issuing the Interim Measures for the Administration of Foreign Exchange for Domestic Residents

Article 1 In order to improve the personal foreign exchange management of domestic residents, these Measures are formulated in accordance with the Regulations of People's Republic of China (PRC) Municipality on Foreign Exchange Management. Article 2 The term "domestic resident individuals" as mentioned in these Measures refers to China people living in People's Republic of China (PRC), foreigners (including stateless persons) who have settled in People's Republic of China (PRC), foreigners who have lived in China for more than 1 year (subject to the entry date registered in the applicant's passport) and compatriots from Hong Kong, Macao and Taiwan. Article 3 The term "bank" as mentioned in these Measures refers to the designated foreign exchange banks approved to engage in foreign exchange business. Article 4 Foreign exchange accounts as mentioned in these Measures include "cash account" and "cash account". "Cash account" refers to the deposit account in which foreign exchange is remitted or brought into Hong Kong, Macao and Taiwan or overseas (hereinafter referred to as "overseas"); "Cash account" refers to the foreign currency cash deposit account held by domestic residents. Article 5 Individual residents shall not handle foreign exchange receipts and payments for institutions in their own names. Article 6 The State Administration of Foreign Exchange and its first-level and second-level branches (hereinafter referred to as foreign exchange bureaus) shall be responsible for the supervision and management of foreign exchange receipts and payments and accounts of individual residents. Article 7 The foreign exchange income of individual residents refers to the foreign exchange income obtained by individual residents from abroad, which has full ownership and can be freely disposed of, including the following contents:

(a) current account foreign exchange income:

1. Patents and copyrights: foreign exchange obtained by individual residents who license or transfer their own patents and copyrights to non-residents;

2. Contribution fee: foreign exchange contribution fee obtained by individual residents for publishing articles and books abroad;

3. Consulting fees: foreign exchange obtained by individual residents providing legal, accounting, management and other consulting services abroad;

4. Insurance premium: compensatory foreign exchange obtained by individual residents from overseas insurance companies;

5. Profits and dividends: income from overseas direct investment by individual residents and dividends from holding overseas foreign currency securities;

6. Interest: the interest of individual residents' overseas deposits and the interest income from holding overseas foreign currency securities;

7. Annuities and pensions: foreign exchange annuities and pensions obtained by individual residents from abroad;

8. Employee compensation: foreign exchange obtained by individual residents for providing services to non-residents;

9. Heritage: foreign exchange obtained by individual residents inheriting non-resident heritage;

10. Family support: individual residents receive foreign exchange from overseas relatives to support their relatives;

1 1. Donation: individual residents accept donations and gifts provided free of charge from abroad;

12. Other current account foreign exchange income legally obtained by individual residents.

(2) Foreign exchange income from capital account:

The principal of all kinds of direct investment or indirect investment repatriated from overseas by individual residents approved by the competent investment authorities at home and abroad. Article 8 The foreign exchange income of individual residents in current account can be paid in foreign currency cash or converted into RMB. With the approval of the foreign exchange bureau, the foreign exchange income of resident individual capital can be paid in foreign currency cash or converted into RMB. Chapter I General Provisions Article 9 The current account foreign exchange income remitted or carried by individual residents from abroad under item1-1of Article 7 of these Measures shall be handled in accordance with the following provisions:

(a) a one-time payment of foreign currency cash or equivalent RMB less than $6,543,800+0,000, directly to the bank;

(2) If the cash in foreign currency is paid in a lump sum or the equivalent amount of RMB exceeds USD 6,543,800+0,000 (including USD 6,543,800+0,000) but is less than USD 50,000, the bank shall register and put it on record after examining the supporting materials specified in Article 10 of these Measures, and handle it;

(3) If the cash in foreign currency is paid in a lump sum or the equivalent of RMB is more than 50,000 US dollars (including 50,000 US dollars) but less than 200,000 US dollars, the applicant shall apply to the local foreign exchange bureau with the supporting materials specified in Article 10 of these Measures, and after the authenticity is verified by the foreign exchange bureau, he shall go to the bank with the approval document of the foreign exchange bureau;

(4) If a lump-sum payment is made in foreign currency cash or RMB equivalent of more than US$ 200,000 (including US$ 200,000), an application shall be submitted to the local foreign exchange bureau with the supporting materials specified in Article 10 of these Measures, and the local foreign exchange bureau shall report to the State Administration of Foreign Exchange for verification of authenticity, and then go to the bank for handling after being approved by the local foreign exchange bureau. Article 10 If the foreign exchange income of individual residents in current account needs to be paid in foreign currency cash or converted into RMB, they must provide the following relevant certificates to the bank or foreign exchange bureau:

(1) Income from patents and copyrights: true identity certificate, patent or copyright certificate, transfer or use agreement and overseas tax payment certificate must be provided;

(2) Income from royalties: true identity certificate, published works and overseas tax payment certificate must be provided;

(3) Consulting fee income: true identity certificate, consulting agreement and overseas tax payment certificate must be provided;

(4) Insurance income: true identity certificate, insurance policy, claim settlement and claim settlement certificate must be provided;

(5) Profit and dividend income: true identity certificate, investment agreement or equity certificate, profit distribution resolution or dividend payment and overseas tax payment certificate must be provided;

(6) Interest income: true identity certificate, bond or bond registration certificate or deposit interest list and overseas tax payment certificate must be provided;

(7) Annuity and pension: true identity certificate, overseas work certificate and overseas tax payment certificate must be provided;

(8) Remuneration of employees: true identity certificate, employment agreement and overseas tax payment certificate must be provided;

(9) Foreign exchange inheritance: true identity certificate, notarial certificate and overseas tax payment certificate must be provided;

(10) family support: true identification and family relationship statement must be provided;

(1 1) Donation of foreign exchange: true identification and donation agreement must be provided;

(12) Individual residents who have foreign exchange income in other current accounts other than these measures, and the amount exceeds US$ 654.38+0000 (including US$ 654.38+00000), should apply to the local foreign exchange bureau with their true identity certificate and relevant certification materials, and go through relevant formalities at the bank after the authenticity is verified by the foreign exchange bureau; If the equivalent value is more than US$ 200,000 (including US$ 200,000), the local foreign exchange bureau shall report it to the State Administration of Foreign Exchange for examination and approval, and the bank shall go through relevant formalities after being approved by the local foreign exchange bureau.