Regulations of the People's Republic of China on Foreign Exchange Administration

(1996年1月29日中华人民共和国国务院令第193号发布　根据1997年1月14日《国务院关于修改〈中华人民共和国外汇管理条例〉的决定》修订　2008年8月1日国务院第20次常务会议修订通过)

(Promulgated by Decree No. 193 of the State Council of the People's Republic of China on January 29, 1996; revised in accordance with the Decision of the State Council on Amending the Regulations of the People's Republic of China on Foreign Exchange Administration on January 14, 1997; adopted at the 20th executive meeting of the State Council on August 1, 2008)

为了加强外汇管理，促进国际收支平衡，促进国民经济健康发展，制定本条例。

These Regulations are formulated to strengthen foreign exchange administration, promote balance of payments, and promote the healthy development of the national economy.

国务院外汇管理部门及其分支机构(以下统称外汇管理机关)依法履行外汇管理职责，负责本条例的实施。

The foreign exchange administration department of the State Council and its branches (hereinafter collectively referred to as the foreign exchange administration authorities) shall perform the duties of foreign exchange administration in accordance with the law and be responsible for the implementation of these Regulations.

本条例所称外汇，是指下列以外币表示的可以用作国际清偿的支付手段和资产：

For the purposes of these Regulations, foreign exchange refers to the following means of payment and assets denominated in foreign currencies that can be used for international settlement:

(一)外币现钞，包括纸币、铸币；

(1) Foreign currency cash, including banknotes and coins;

(二)外币支付凭证或者支付工具，包括票据、银行存款凭证、银行卡等；

(2) Foreign currency payment instruments or payment tools, including bills, bank deposit certificates, bank cards, etc.;

(三)外币有价证券，包括债券、股票等；

(3) Foreign currency securities, including bonds, stocks, etc.;

(四)特别提款权；

(4) Special drawing rights;

(五)其他外汇资产。

(5) Other foreign exchange assets.

境内机构、境内个人的外汇收支或者外汇经营活动，以及境外机构、境外个人在境内的外汇收支或者外汇经营活动，适用本条例。

These Regulations shall apply to foreign exchange receipts and payments or foreign exchange business activities of domestic institutions and domestic individuals, as well as foreign exchange receipts and payments or foreign exchange business activities of overseas institutions and overseas individuals within the territory of China.

国家对经常性国际支付和转移不予限制。

The State shall not restrict current international payments and transfers.

国家实行国际收支统计申报制度。

The State shall implement a system of statistical declaration for balance of payments.

国务院外汇管理部门应当对国际收支进行统计、监测，定期公布国际收支状况。

The foreign exchange administration department of the State Council shall conduct statistics and monitoring of the balance of payments and regularly publish the balance of payments situation.

经营外汇业务的金融机构应当按照国务院外汇管理部门的规定为客户开立外汇账户，并通过外汇账户办理外汇业务。

Financial institutions engaged in foreign exchange business shall open foreign exchange accounts for customers in accordance with the provisions of the foreign exchange administration department of the State Council and handle foreign exchange business through such accounts.

经营外汇业务的金融机构应当依法向外汇管理机关报送客户的外汇收支及账户变动情况。

Financial institutions engaged in foreign exchange business shall, in accordance with the law, report to the foreign exchange administration authorities the foreign exchange receipts and payments and account changes of their customers.

中华人民共和国境内禁止外币流通，并不得以外币计价结算，但国家另有规定的除外。

The circulation of foreign currency is prohibited within the territory of the People's Republic of China, and foreign currency shall not be used for pricing and settlement, unless otherwise provided by the State.

境内机构、境内个人的外汇收入可以调回境内或者存放境外；调回境内或者存放境外的条件、期限等，由国务院外汇管理部门根据国际收支状况和外汇管理的需要作出规定。

Foreign exchange earnings of domestic institutions and domestic individuals may be repatriated into China or deposited overseas; the conditions and time limits for repatriation or overseas deposit shall be prescribed by the foreign exchange administration department of the State Council based on the balance of payments situation and the needs of foreign exchange administration.

国务院外汇管理部门依法持有、管理、经营国家外汇储备，遵循安全、流动、增值的原则。

The foreign exchange administration department of the State Council shall lawfully hold, manage, and operate the state foreign exchange reserves, following the principles of safety, liquidity, and value preservation and appreciation.

国际收支出现或者可能出现严重失衡，以及国民经济出现或者可能出现严重危机时，国家可以对国际收支采取必要的保障、控制等措施。

When the balance of payments experiences or may experience a serious imbalance, or when the national economy experiences or may experience a serious crisis, the State may take necessary safeguard and control measures with respect to the balance of payments.

经常项目外汇收支应当具有真实、合法的交易基础。经营结汇、售汇业务的金融机构应当按照国务院外汇管理部门的规定，对交易单证的真实性及其与外汇收支的一致性进行合理审查。

Current account foreign exchange receipts and payments shall have a genuine and lawful transaction basis. Financial institutions engaged in foreign exchange settlement and sale business shall, in accordance with the provisions of the foreign exchange administration department of the State Council, reasonably examine the authenticity of transaction documents and their consistency with foreign exchange receipts and payments.

外汇管理机关有权对前款规定事项进行监督检查。

The foreign exchange administration authority has the right to supervise and inspect the matters specified in the preceding paragraph.

经常项目外汇收入，可以按照国家有关规定保留或者卖给经营结汇、售汇业务的金融机构。

Current account foreign exchange income may be retained or sold to financial institutions engaged in foreign exchange settlement and sale business in accordance with relevant state provisions.

经常项目外汇支出，应当按照国务院外汇管理部门关于付汇与购汇的管理规定，凭有效单证以自有外汇支付或者向经营结汇、售汇业务的金融机构购汇支付。

Current account foreign exchange expenditure shall, in accordance with the administrative provisions of the foreign exchange administration department of the State Council on payment and purchase of foreign exchange, be paid with own foreign exchange or purchased from financial institutions engaged in foreign exchange settlement and sale business against valid documents.

携带、申报外币现钞出入境的限额，由国务院外汇管理部门规定。

The limits for carrying and declaring foreign currency cash into or out of the country shall be prescribed by the foreign exchange administration department of the State Council.

境外机构、境外个人在境内直接投资，经有关主管部门批准后，应当到外汇管理机关办理登记。

Overseas institutions and overseas individuals making direct investment within China shall, after obtaining approval from the relevant competent authorities, register with the foreign exchange administration authority.

境外机构、境外个人在境内从事有价证券或者衍生产品发行、交易，应当遵守国家关于市场准入的规定，并按照国务院外汇管理部门的规定办理登记。

Overseas institutions and overseas individuals engaging in the issuance or trading of securities or derivatives within China shall comply with state provisions on market access and register in accordance with the provisions of the foreign exchange administration department of the State Council.

境内机构、境内个人向境外直接投资或者从事境外有价证券、衍生产品发行、交易，应当按照国务院外汇管理部门的规定办理登记。国家规定需要事先经有关主管部门批准或者备案的，应当在外汇登记前办理批准或者备案手续。

Domestic institutions and domestic individuals making direct investment overseas or engaging in the issuance or trading of overseas securities or derivatives shall register in accordance with the provisions of the foreign exchange administration department of the State Council. Where state provisions require prior approval or filing from relevant competent authorities, such approval or filing procedures shall be completed before foreign exchange registration.

国家对外债实行规模管理。借用外债应当按照国家有关规定办理，并到外汇管理机关办理外债登记。

The state implements scale management of foreign debts. Borrowing foreign debts shall be handled in accordance with relevant state regulations and registered with the foreign exchange administration authority.

国务院外汇管理部门负责全国的外债统计与监测，并定期公布外债情况。

The foreign exchange administration department of the State Council is responsible for the national statistics and monitoring of foreign debts and shall regularly publish the status of foreign debts.

提供对外担保，应当向外汇管理机关提出申请，由外汇管理机关根据申请人的资产负债等情况作出批准或者不批准的决定；国家规定其经营范围需经有关主管部门批准的，应当在向外汇管理机关提出申请前办理批准手续。申请人签订对外担保合同后，应当到外汇管理机关办理对外担保登记。

To provide external guarantees, an application shall be submitted to the foreign exchange administration authority, which shall make a decision of approval or disapproval based on the applicant's assets and liabilities, etc.; if state regulations require approval from relevant competent authorities for its business scope, the approval procedures shall be completed before applying to the foreign exchange administration authority. After signing an external guarantee contract, the applicant shall register the external guarantee with the foreign exchange administration authority.

经国务院批准为使用外国政府或者国际金融组织贷款进行转贷提供对外担保的，不适用前款规定。

The provisions of the preceding paragraph shall not apply to external guarantees provided for on-lending of loans from foreign governments or international financial organizations approved by the State Council.

银行业金融机构在经批准的经营范围内可以直接向境外提供商业贷款。其他境内机构向境外提供商业贷款，应当向外汇管理机关提出申请，外汇管理机关根据申请人的资产负债等情况作出批准或者不批准的决定；国家规定其经营范围需经有关主管部门批准的，应当在向外汇管理机关提出申请前办理批准手续。

Banking financial institutions may directly provide commercial loans to overseas parties within their approved business scope. Other domestic institutions providing commercial loans to overseas parties shall submit an application to the foreign exchange administration authority, which shall make a decision of approval or disapproval based on the applicant's assets and liabilities, etc.; if state regulations require approval from relevant competent authorities for its business scope, the approval procedures shall be completed before applying to the foreign exchange administration authority.

向境外提供商业贷款，应当按照国务院外汇管理部门的规定办理登记。

Providing commercial loans to overseas parties shall be registered in accordance with the provisions of the foreign exchange administration department of the State Council.

资本项目外汇收入保留或者卖给经营结汇、售汇业务的金融机构，应当经外汇管理机关批准，但国家规定无需批准的除外。

Retention or sale of capital account foreign exchange income to financial institutions engaged in foreign exchange settlement and sale business shall be approved by the foreign exchange administration authority, unless otherwise provided by state regulations.

资本项目外汇支出，应当按照国务院外汇管理部门关于付汇与购汇的管理规定，凭有效单证以自有外汇支付或者向经营结汇、售汇业务的金融机构购汇支付。国家规定应当经外汇管理机关批准的，应当在外汇支付前办理批准手续。

Capital account foreign exchange expenditures shall be paid with own foreign exchange or purchased from financial institutions engaged in foreign exchange settlement and sale business with valid documents in accordance with the administrative provisions of the foreign exchange administration department of the State Council on payment and purchase of foreign exchange. If state regulations require approval from the foreign exchange administration authority, the approval procedures shall be completed before the foreign exchange payment.

依法终止的外商投资企业，按照国家有关规定进行清算、纳税后，属于外方投资者所有的人民币，可以向经营结汇、售汇业务的金融机构购汇汇出。

For a foreign-invested enterprise that is terminated according to law, after liquidation and tax payment in accordance with relevant state regulations, the Renminbi belonging to the foreign investor may be purchased and remitted abroad from financial institutions engaged in foreign exchange settlement and sale business.

资本项目外汇及结汇资金，应当按照有关主管部门及外汇管理机关批准的用途使用。外汇管理机关有权对资本项目外汇及结汇资金使用和账户变动情况进行监督检查。

Capital account foreign exchange and its settlement funds shall be used in accordance with the purposes approved by the relevant competent authorities and the foreign exchange administration authority. The foreign exchange administration authority has the power to supervise and inspect the use of capital account foreign exchange and settlement funds and changes in accounts.

金融机构经营或者终止经营结汇、售汇业务，应当经外汇管理机关批准；经营或者终止经营其他外汇业务，应当按照职责分工经外汇管理机关或者金融业监督管理机构批准。

Financial institutions that engage in or terminate the business of exchange settlement and sale shall obtain approval from the foreign exchange administration authority; engaging in or terminating other foreign exchange business shall be approved by the foreign exchange administration authority or the financial regulatory authority according to the division of responsibilities.

外汇管理机关对金融机构外汇业务实行综合头寸管理，具体办法由国务院外汇管理部门制定。

The foreign exchange administration authority shall implement comprehensive position management over the foreign exchange business of financial institutions, and the specific measures shall be formulated by the foreign exchange administration authority of the State Council.

金融机构的资本金、利润以及因本外币资产不匹配需要进行人民币与外币间转换的，应当经外汇管理机关批准。

The conversion between RMB and foreign currencies due to the mismatch of capital, profits, and domestic and foreign currency assets of financial institutions shall be approved by the foreign exchange administration authority.

人民币汇率实行以市场供求为基础的、有管理的浮动汇率制度。

The RMB exchange rate adopts a managed floating exchange rate system based on market supply and demand.

经营结汇、售汇业务的金融机构和符合国务院外汇管理部门规定条件的其他机构，可以按照国务院外汇管理部门的规定在银行间外汇市场进行外汇交易。

Financial institutions engaged in exchange settlement and sale business and other institutions that meet the conditions prescribed by the foreign exchange administration authority of the State Council may conduct foreign exchange transactions in the interbank foreign exchange market in accordance with the provisions of the foreign exchange administration authority of the State Council.

外汇市场交易应当遵循公开、公平、公正和诚实信用的原则。

Foreign exchange market transactions shall follow the principles of openness, fairness, impartiality, and good faith.

外汇市场交易的币种和形式由国务院外汇管理部门规定。

The currencies and forms of foreign exchange market transactions shall be prescribed by the foreign exchange administration authority of the State Council.

国务院外汇管理部门依法监督管理全国的外汇市场。

The foreign exchange administration authority of the State Council shall supervise and manage the national foreign exchange market in accordance with the law.

国务院外汇管理部门可以根据外汇市场的变化和货币政策的要求，依法对外汇市场进行调节。

The foreign exchange administration department of the State Council may, in accordance with the changes in the foreign exchange market and the requirements of monetary policy, regulate the foreign exchange market according to law.

外汇管理机关依法履行职责，有权采取下列措施：

When performing their duties according to law, the foreign exchange administration authorities have the right to take the following measures:

(一)对经营外汇业务的金融机构进行现场检查；

(1) Conduct on-site inspections of financial institutions engaged in foreign exchange business;

(二)进入涉嫌外汇违法行为发生场所调查取证；

(2) Enter the place where a suspected foreign exchange violation occurs to investigate and collect evidence;

(三)询问有外汇收支或者外汇经营活动的机构和个人，要求其对与被调查外汇违法事件直接有关的事项作出说明；

(3) Inquire of institutions and individuals that have foreign exchange receipts and payments or engage in foreign exchange activities, and require them to provide explanations on matters directly related to the foreign exchange violation under investigation;

(四)查阅、复制与被调查外汇违法事件直接有关的交易单证等资料；

(4) Consult and copy transaction documents and other materials directly related to the foreign exchange violation under investigation;

(五)查阅、复制被调查外汇违法事件的当事人和直接有关的单位、个人的财务会计资料及相关文件，对可能被转移、隐匿或者毁损的文件和资料，可以予以封存；

(5) Consult and copy the financial accounting materials and related documents of the parties to the foreign exchange violation under investigation and the directly related units and individuals, and may seal up documents and materials that may be transferred, concealed, or destroyed;

(六)经国务院外汇管理部门或者省级外汇管理机关负责人批准，查询被调查外汇违法事件的当事人和直接有关的单位、个人的账户，但个人储蓄存款账户除外；

(6) With the approval of the head of the foreign exchange administration department of the State Council or the provincial-level foreign exchange administration authority, inquire about the accounts of the parties to the foreign exchange violation under investigation and the directly related units and individuals, except for personal savings deposit accounts;

(七)对有证据证明已经或者可能转移、隐匿违法资金等涉案财产或者隐匿、伪造、毁损重要证据的，可以申请人民法院冻结或者查封。

(7) Where there is evidence to prove that illegal funds or other property involved in the case have been or may be transferred or concealed, or that important evidence has been concealed, forged, or destroyed, they may apply to the people's court for freezing or sealing up.

有关单位和个人应当配合外汇管理机关的监督检查，如实说明有关情况并提供有关文件、资料，不得拒绝、阻碍和隐瞒。

Relevant entities and individuals shall cooperate with the supervision and inspection of the foreign exchange administration authorities, truthfully explain the relevant circumstances and provide relevant documents and materials, and shall not refuse, obstruct, or conceal.

外汇管理机关依法进行监督检查或者调查，监督检查或者调查的人员不得少于2人，并应当出示证件。监督检查、调查的人员少于2人或者未出示证件的，被监督检查、调查的单位和个人有权拒绝。

When the foreign exchange administration authorities conduct supervision and inspection or investigation according to law, there shall be no fewer than two persons conducting the supervision and inspection or investigation, and they shall present their credentials. If the number of persons conducting supervision, inspection, or investigation is fewer than two or they fail to present their credentials, the entities and individuals under supervision, inspection, or investigation have the right to refuse.

有外汇经营活动的境内机构，应当按照国务院外汇管理部门的规定报送财务会计报告、统计报表等资料。

Domestic institutions engaged in foreign exchange business activities shall, in accordance with the provisions of the foreign exchange administration department of the State Council, submit financial accounting reports, statistical statements, and other materials.

经营外汇业务的金融机构发现客户有外汇违法行为的，应当及时向外汇管理机关报告。

Financial institutions engaged in foreign exchange business that discover clients engaging in illegal foreign exchange activities shall promptly report to the foreign exchange administration authorities.

国务院外汇管理部门为履行外汇管理职责，可以从国务院有关部门、机构获取所必需的信息，国务院有关部门、机构应当提供。

The foreign exchange administration department of the State Council may, for the purpose of performing its foreign exchange administration duties, obtain necessary information from relevant departments and agencies of the State Council, and such departments and agencies shall provide it.

国务院外汇管理部门应当向国务院有关部门、机构通报外汇管理工作情况。

The foreign exchange administration department of the State Council shall inform the relevant departments and agencies of the State Council of the status of foreign exchange administration work.

任何单位和个人都有权举报外汇违法行为。

Any entity or individual has the right to report illegal foreign exchange activities.

外汇管理机关应当为举报人保密，并按照规定对举报人或者协助查处外汇违法行为有功的单位和个人给予奖励。

The foreign exchange administration authorities shall keep the confidentiality of the whistleblower and, in accordance with regulations, reward the whistleblower or entities and individuals that have made meritorious contributions in assisting in the investigation and punishment of illegal foreign exchange activities.

有违反规定将境内外汇转移境外，或者以欺骗手段将境内资本转移境外等逃汇行为的，由外汇管理机关责令限期调回外汇，处逃汇金额30%以下的罚款；情节严重的，处逃汇金额30%以上等值以下的罚款；构成犯罪的，依法追究刑事责任。

Where there is a violation of regulations by transferring foreign exchange within the territory abroad, or by transferring domestic capital abroad through fraudulent means, or other acts of evasion of foreign exchange, the foreign exchange administration authorities shall order the return of the foreign exchange within a specified period and impose a fine of not more than 30% of the amount of foreign exchange evaded; if the circumstances are serious, a fine of not less than 30% but not more than the equivalent amount of the foreign exchange evaded shall be imposed; if a crime is constituted, criminal liability shall be pursued according to law.

有违反规定以外汇收付应当以人民币收付的款项，或者以虚假、无效的交易单证等向经营结汇、售汇业务的金融机构骗购外汇等非法套汇行为的，由外汇管理机关责令对非法套汇资金予以回兑，处非法套汇金额30%以下的罚款；情节严重的，处非法套汇金额30%以上等值以下的罚款；构成犯罪的，依法追究刑事责任。

Whoever commits illegal arbitrage, such as paying or receiving in foreign exchange when the payment or receipt should be in RMB in violation of regulations, or fraudulently purchasing foreign exchange from financial institutions engaged in foreign exchange settlement and sale by using false or invalid transaction documents, shall be ordered by the foreign exchange administration authority to reverse the illegal arbitrage funds and be imposed a fine of not more than 30% of the amount of illegal arbitrage; if the circumstances are serious, a fine of not less than 30% but not more than the equivalent amount of the illegal arbitrage shall be imposed; if a crime is constituted, criminal liability shall be pursued according to law.

违反规定将外汇汇入境内的，由外汇管理机关责令改正，处违法金额30%以下的罚款；情节严重的，处违法金额30%以上等值以下的罚款。

Whoever, in violation of regulations, remits foreign exchange into China shall be ordered by the foreign exchange administration authority to make corrections and be imposed a fine of not more than 30% of the illegal amount; if the circumstances are serious, a fine of not less than 30% but not more than the equivalent amount of the illegal amount shall be imposed.

非法结汇的，由外汇管理机关责令对非法结汇资金予以回兑，处违法金额30%以下的罚款。

Whoever illegally settles foreign exchange shall be ordered by the foreign exchange administration authority to reverse the illegally settled funds and be imposed a fine of not more than 30% of the illegal amount.

违反规定携带外汇出入境的，由外汇管理机关给予警告，可以处违法金额20%以下的罚款。法律、行政法规规定由海关予以处罚的，从其规定。

Whoever, in violation of regulations, carries foreign exchange into or out of China shall be given a warning by the foreign exchange administration authority and may be imposed a fine of not more than 20% of the illegal amount. If laws or administrative regulations provide for punishment by the customs, those provisions shall prevail.

有擅自对外借款、在境外发行债券或者提供对外担保等违反外债管理行为的，由外汇管理机关给予警告，处违法金额30%以下的罚款。

Whoever commits acts in violation of foreign debt management, such as borrowing from abroad, issuing bonds abroad, or providing external guarantees without authorization, shall be given a warning by the foreign exchange administration authority and be imposed a fine of not more than 30% of the illegal amount.

违反规定，擅自改变外汇或者结汇资金用途的，由外汇管理机关责令改正，没收违法所得，处违法金额30%以下的罚款；情节严重的，处违法金额30%以上等值以下的罚款。

Whoever, in violation of regulations, changes the use of foreign exchange or foreign exchange settlement funds without authorization shall be ordered by the foreign exchange administration authority to make corrections, have the illegal gains confiscated, and be imposed a fine of not more than 30% of the illegal amount; if the circumstances are serious, a fine of not less than 30% but not more than the equivalent amount of the illegal amount shall be imposed.

有违反规定以外币在境内计价结算或者划转外汇等非法使用外汇行为的，由外汇管理机关责令改正，给予警告，可以处违法金额30%以下的罚款。

Whoever commits illegal use of foreign exchange, such as pricing or settling in foreign currency within the territory or transferring foreign exchange in violation of regulations, shall be ordered by the foreign exchange administration authority to make corrections, given a warning, and may be imposed a fine of not more than 30% of the illegal amount.

私自买卖外汇、变相买卖外汇、倒买倒卖外汇或者非法介绍买卖外汇数额较大的，由外汇管理机关给予警告，没收违法所得，处违法金额30%以下的罚款；情节严重的，处违法金额30%以上等值以下的罚款；构成犯罪的，依法追究刑事责任。

Whoever privately buys or sells foreign exchange, buys or sells foreign exchange in a disguised form, buys or sells foreign exchange for resale, or illegally introduces foreign exchange buying or selling in a relatively large amount shall be given a warning by the foreign exchange administration authority, have the illegal gains confiscated, and be imposed a fine of not more than 30% of the illegal amount; if the circumstances are serious, a fine of not less than 30% but not more than the equivalent amount of the illegal amount shall be imposed; if a crime is constituted, criminal liability shall be pursued according to law.

未经批准擅自经营结汇、售汇业务的，由外汇管理机关责令改正，有违法所得的，没收违法所得，违法所得50万元以上的，并处违法所得1倍以上5倍以下的罚款；没有违法所得或者违法所得不足50万元的，处50万元以上200万元以下的罚款；情节严重的，由有关主管部门责令停业整顿或者吊销业务许可证；构成犯罪的，依法追究刑事责任。

Whoever, without approval, engages in foreign exchange settlement and sale business shall be ordered by the foreign exchange administration authority to make corrections; if there are illegal gains, the illegal gains shall be confiscated; if the illegal gains are more than 500,000 yuan, a fine of not less than one time but not more than five times the illegal gains shall be imposed concurrently; if there are no illegal gains or the illegal gains are less than 500,000 yuan, a fine of not less than 500,000 yuan but not more than 2,000,000 yuan shall be imposed; if the circumstances are serious, the relevant competent authority shall order suspension of business for rectification or revoke the business license; if a crime is constituted, criminal liability shall be pursued according to law.

未经批准经营结汇、售汇业务以外的其他外汇业务的，由外汇管理机关或者金融业监督管理机构依照前款规定予以处罚。

Whoever, without approval, engages in foreign exchange business other than foreign exchange settlement and sale shall be punished by the foreign exchange administration authority or the financial regulatory authority in accordance with the preceding paragraph.

金融机构有下列情形之一的，由外汇管理机关责令限期改正，没收违法所得，并处20万元以上100万元以下的罚款；情节严重或者逾期不改正的，由外汇管理机关责令停止经营相关业务：

If a financial institution falls under any of the following circumstances, the foreign exchange administration authority shall order it to rectify within a time limit, confiscate illegal gains, and impose a fine of not less than RMB 200,000 but not more than RMB 1,000,000; if the circumstances are serious or the institution fails to rectify within the time limit, the foreign exchange administration authority shall order it to cease operating the relevant business:

(一)办理经常项目资金收付，未对交易单证的真实性及其与外汇收支的一致性进行合理审查的；

(1) Handling receipts and payments of current account funds without conducting a reasonable review of the authenticity of transaction documents and their consistency with foreign exchange receipts and payments;

(二)违反规定办理资本项目资金收付的；

(2) Handling receipts and payments of capital account funds in violation of regulations;

(三)违反规定办理结汇、售汇业务的；

(3) Handling foreign exchange settlement and sale business in violation of regulations;

(四)违反外汇业务综合头寸管理的；

(4) Violating the comprehensive foreign exchange position management;

(五)违反外汇市场交易管理的。

(5) Violating foreign exchange market transaction management.

有下列情形之一的，由外汇管理机关责令改正，给予警告，对机构可以处30万元以下的罚款，对个人可以处5万元以下的罚款：

If any of the following circumstances occurs, the foreign exchange administration authority shall order rectification, give a warning, and may impose a fine of not more than RMB 300,000 on an institution and not more than RMB 50,000 on an individual:

(一)未按照规定进行国际收支统计申报的；

(1) Failing to make statistical declarations on balance of payments as required;

(二)未按照规定报送财务会计报告、统计报表等资料的；

(2) Failing to submit financial accounting reports, statistical statements, and other materials as required;

(三)未按照规定提交有效单证或者提交的单证不真实的；

(3) Failing to submit valid documents as required or submitting documents that are not authentic.

(四)违反外汇账户管理规定的；

(4) violating foreign exchange account management provisions;

(五)违反外汇登记管理规定的；

(5) violating foreign exchange registration management provisions;

(六)拒绝、阻碍外汇管理机关依法进行监督检查或者调查的。

(6) refusing or obstructing the foreign exchange management authority from conducting supervision and inspection or investigation according to law.

境内机构违反外汇管理规定的，除依照本条例给予处罚外，对直接负责的主管人员和其他直接责任人员，应当给予处分；对金融机构负有直接责任的董事、监事、高级管理人员和其他直接责任人员给予警告，处5万元以上50万元以下的罚款；构成犯罪的，依法追究刑事责任。

Where a domestic institution violates foreign exchange administration provisions, in addition to being penalized in accordance with these Regulations, the directly responsible person in charge and other directly responsible persons shall be given sanctions; for directors, supervisors, senior management personnel and other directly responsible persons of a financial institution who bear direct responsibility, a warning shall be given and a fine of not less than RMB 50,000 but not more than RMB 500,000 shall be imposed; if a crime is constituted, criminal liability shall be pursued according to law.

外汇管理机关工作人员徇私舞弊、滥用职权、玩忽职守，构成犯罪的，依法追究刑事责任；尚不构成犯罪的，依法给予处分。

Where a staff member of the foreign exchange management authority engages in malpractice for personal gain, abuses power, or neglects duty, if a crime is constituted, criminal liability shall be pursued according to law; if no crime is constituted, sanctions shall be given according to law.

当事人对外汇管理机关作出的具体行政行为不服的，可以依法申请行政复议；对行政复议决定仍不服的，可以依法向人民法院提起行政诉讼。

Where a party is dissatisfied with a specific administrative act made by the foreign exchange management authority, it may apply for administrative reconsideration according to law; if still dissatisfied with the administrative reconsideration decision, it may file an administrative lawsuit with the People's Court according to law.

本条例下列用语的含义：

The meanings of the following terms in these Regulations:

(一)境内机构，是指中华人民共和国境内的国家机关、企业、事业单位、社会团体、部队等，外国驻华外交领事机构和国际组织驻华代表机构除外。

(1) Domestic institutions refer to state organs, enterprises, institutions, social organizations, military units, etc. within the territory of the People's Republic of China, excluding foreign diplomatic and consular missions in China and representative offices of international organizations in China.

(二)境内个人，是指中国公民和在中华人民共和国境内连续居住满1年的外国人，外国驻华外交人员和国际组织驻华代表除外。

(2) Domestic individuals refer to Chinese citizens and foreigners who have continuously resided in the People's Republic of China for one full year, excluding foreign diplomatic personnel in China and representatives of international organizations in China.

(三)经常项目，是指国际收支中涉及货物、服务、收益及经常转移的交易项目等。

(3) Current account refers to transaction items involving goods, services, income, and current transfers in the balance of payments.

(四)资本项目，是指国际收支中引起对外资产和负债水平发生变化的交易项目，包括资本转移、直接投资、证券投资、衍生产品及贷款等。

(4) Capital account refers to transaction items that cause changes in the level of external assets and liabilities in the balance of payments, including capital transfers, direct investment, securities investment, derivatives, and loans.

非金融机构经营结汇、售汇业务，应当由国务院外汇管理部门批准，具体管理办法由国务院外汇管理部门另行制定。

Non-financial institutions engaging in foreign exchange settlement and sales business shall be approved by the foreign exchange administration department of the State Council, and specific management measures shall be formulated separately by the foreign exchange administration department of the State Council.

本条例自公布之日起施行。

These Regulations shall come into force on the date of promulgation.