Chapter I General Provisions

Article 1 In order to facilitate individual foreign exchange revenue and expenditure, simplify business procedures and regulate foreign exchange control, the present Measures are instituted under the Regulations of the People's Republic of China Concerning the Management of Foreign Exchange, the Regulations on the Management of the Sale and Purchase of and Payment in Foreign Exchange and other related laws and regulations.

Article 2 Individual foreign exchange businesses may be classified into domestic and overseas individual foreign exchange business in accordance with the parties involved in the transaction as well as that under the current account and that under the capital account in accordance with the nature of transaction. Individual foreign exchange business shall be administered on the basis of the classification mentioned above.

Article 3 The individual foreign exchange business under the current account may be administered according to the principle for convertibility, while that under the capital account may be administered according to the convertibility procedure.

Article 4 The State Administration of Foreign Exchange and branches thereof (hereinafter referred to as foreign exchange authority) shall supervise and administer domestic and overseas individual foreign exchange businesses according to the provisions in the present Measures.

Article 5 An individual shall carry out the related foreign exchange business according to the related provisions in the present Measures. The banks shall operate such businesses for individuals as payment and collection of foreign exchange, sales and purchase of foreign exchange, and the opening of foreign exchange accounts according to the provisions in the present Measures and examine and verify the authenticity of the valid identity certificates and the related certification materials submitted by individuals. The remittance institutions and foreign currency exchange institutions (including foreign exchange offices) shall deal with individual foreign exchange business for individuals according to the provisions in the present Measures.

Article 6 Banks shall deal with the business of individual purchase and sales of foreign exchange through the management information system designated by the foreign exchange authority, accurately and exactly key in the related information and keep the materials concerning the disposal of individual business for at least five years for future examination.

Article 7 All banks and individuals shall comply with the related provisions of the present Measures in dealing with individual foreign exchange business, and may not evade quota supervision through method of splitting or evade authenticity control by means of using false business papers or vouchers.

Article 8 As regards individual cross-border revenue and expenditure, an individual shall fulfill the procedures of the declaration for statistics of international balance of payment according to the related provisions on the declaration for statistics of international balance of payment.

Article 9 The management of total annual amount shall be applicable to individual settlement of and domestic individual purchase of foreign exchange. In case it is within the total annual amount, it shall be dealt with at a bank upon the strength of valid personal identity certificate; if it is beyond the total annual amount, those under the current account shall be dealt with at a bank upon the strength of his/her valid personal identity certificate and the related certification materials indicating the trading volume, etc. while those under the capital account shall be dealt with according to the related provisions of Chapter III.

Chapter II Administration on the Individual Foreign Exchange Under the Current Account

Article 10 As regards an individual foreign trade operator engaging in the import and export of goods and having registered the foreign trade operation right in the commercial authority, his/her foreign exchange revenue and expenditure related to trade shall be administered as the foreign exchange revenue and expenditure of an institution.

Article 11 After handling the industrial and commercial registration or other formalities for business operation, an individual may entrust an enterprise qualified to handle foreign trade to act as his/her agent so as to deal with the collection, payment, transfer and settlement of the foreign exchange capital under the item of import and export, the item of tourism and shopping as well as the item of petty trade in border areas.

Article 12 In case a domestic individual remits any foreign exchange abroad for current expenditure, where the amount of a single transaction or the total amount remitted abroad in a same day is within the provisioned amount, he/she shall deal with it at a bank upon the strength of his/her valid identity certificate; where the amount of a single transaction or the total amount remitted abroad in a same day exceeds the provisioned amount, he/she shall deal with it at a bank upon the strength of his/her valid identity certificate and related certification materials indicating the trading volume, etc.

Article 13 As regards the lawful income in renminbi under the current account gained by an overseas individual within the territory of China, he/she may use it to purchase foreign exchange and remit it abroad at a bank upon the strength of his/her valid identity certificate and related certification materials.

Article 14 The foreign exchange that is remitted from abroad and still not used by an overseas individual may be remitted back at a bank through the original channel by such individual upon the strength of his/her valid identity certificate.

Article 15 In case an overseas individual reconverts the renminbi that he/she has converted but not used into foreign currency banknote, if the amount is small, he/she may, upon the strength of his/her valid identity certificate, deal with it at a bank or a foreign currency exchange institution; if the amount is higher than the provisioned amount, he/she may, upon the strength of the original exchange memo, deal with it at a bank.

Chapter III Administration on Individual Foreign Exchange Under the Capital Account

Article 16 Where a domestic individual directly invests abroad in accordance with the related provisions, he/she may purchase foreign exchange or remit his/her self-owned foreign exchange abroad upon the approval of the foreign exchange authority and shall deal with registration of foreign exchange for overseas investment.

Article 17 In case a domestic individual purchases B shares, and invest in overseas finance under items of rights and interests, fixed earnings or others as approved by the state, he/she shall conduct it through a domestic financial institution qualified in corresponding businesses according to related provisions.

Article 18 In case a domestic individual pays any insurance premium for foreign exchange life insurance to a domestic insurance operation institution, he/she may pay by purchased or his/her self-owned foreign exchange.

Article 19 The lawful income under the capital account gained by a domestic individual from overseas may conduct foreign exchange settlement upon the examination and approval of the foreign exchange authority.

Article 20 In case a domestic individual needs to purchase or pay any foreign exchange so as to donate or transfer property to abroad, he/she shall comply with the related provisions and shall obtain the approval of the foreign exchange authority.

Article 21 In case a domestic individual offers any loan to anyone overseas, borrows any foreign debt, grants any guarantee abroad or directly conducts any transaction related to overseas commodity futures or financial derivative products, he/she shall comply with the related provisions and handle the corresponding registration at the foreign exchange authority.

Article 22 In case an overseas individual purchases domestic commercial houses, he/she shall abide by the principle of self-use, and the revenue, expenditure and exchange of his/her foreign exchange capital shall comply with the related provisions on foreign exchange management. The renminbi gained by an overseas individual through selling his/her domestic commercial houses may be remitted abroad after exchanging for foreign currency upon the approval of the foreign exchange authority.

Article 23 Unless otherwise stipulated by the state, an overseas individual may not purchase any domestic financial product under items of rights and interests and fixed earnings, etc. When purchasing B shares, an overseas individual shall abide by the related provisions of the state.

Article 24 An overseas individual's domestic deposit of foreign exchange shall be listed into the balance of short-term foreign debts of depository financial institutions for management.

Article 25 When providing any loan or guarantee to any domestic institution, an overseas individual shall abide by the related provisions on the foreign debts control.

Article 26 In case an overseas individual transfers abroad his/her domestic lawful property, he/she shall abide by the related provisions on the foreign exchange control concerning external transfer of individual property.

Chapter IV Administration on Individual Foreign Exchange Accounts and Foreign Currency Banknotes

Article 27 Individual foreign exchange accounts may be classified into domestic individual foreign exchange account and overseas individual foreign exchange account in accordance with the category of related parties concerned as well as foreign exchange settlement account, capital account and foreign exchange savings account in accordance with the nature of account.