Facilitating Foreign Exchange Receipts and Payments under the Capital Account
01 Q: In what respects are foreign exchange receipts and payments under the capital account facilitated?
A: After the facilitation policy comes into effect，an eligible enterprise，when using foreign exchange receipts under the capital account and renminbi funds obtained from foreign exchange settlement for domestic payments，may directly process the payment at an eligible bank based on the Order of Payment for Facilitating Foreign Exchange Receipts and Payments under the Capital Account without having to submit materials certifying the veracity of each transaction in advance.
02 Q: What is included in "receipts" in the facilitation of foreign exchange receipts and payments under the capital account?
A: "Receipts" as included in the policy for facilitating foreign exchange receipts and payments under the capital account includes foreign exchange capital，foreign debts in foreign currency and foreign-currency funds obtained from overseas listings.
03 Q: Where does the policy apply?
A: It is effective nationwide.
04 Q: Under the policy，is registration of the receipt of monetary capital contribution required for the payment transaction with foreign exchange capital?
A: Yes.
05 Q: What conditions must an enterprise meet in order to be eligible for carrying out the facilitation of foreign exchange receipts and payments under the capital account?
A: An enterprise that is eligible for facilitated foreign exchange receipts and payments under the capital account must be a non-financial enterprise (excluding real estate companies and government financing vehicles) and meet the following conditions:
(1) There can be no record of foreign exchange-related administrative penalties in the past year (for enterprises established less than one year ago，there must be no record of a foreign exchange-related administrative penalty since the date of establishment);
(2) If it is an enterprise in the directory of enterprises for foreign exchange receipts and payments for trade in goods，it must be a "Class A" company engaged in the trade in goods.
06 Q: What conditions does a bank have to meet in order to be eligible to process facilitated capital account foreign exchange receipts and payments?
A: A bank processing facilitated foreign exchange receipts and payments under the capital account must meet the following conditions:
(1) It has opened the capital account information system of the State Administration of Foreign Exchange;
(2) It was rated as Grade B (excluding B-) or above in the compliance and prudential management evaluation of foreign exchange transactions during the previous year;
(3) It has a complete system of internal controls and adequate risk prevention measures.
07 Q: As far as a bank is concerned，what degree of compliance and prudent management must a bank have to process facilitated foreign exchange receipts and payments under the capital account?
A: This refers to the rating of the bank in the previous year if there is a rating. If there is no rating，refer to the rating of the bank at the next highest level.
08 Q: Does SAFE impose macro-prudential management rules on the facilitation of foreign exchange receipts and payments under the capital account?
A: Yes. SAFE conducts quota management for the facilitation of foreign exchange receipts and payments under the capital account. The quota on such receipts and payments is equal to the amount of the foreign exchange receipt under the capital account of the enterprise multiplied by the so-called macro-prudential coefficient. The macro-prudential coefficient is tentatively set at 1 but is subject to adjustment by SAFE from time to time based on the overall situation of foreign exchange receipts and payments. When the macro-prudential coefficient is less than 1，the part beyond the enterprise's quota of facilitated foreign exchange receipts and payments under the capital account shall be subject to the foreign exchange receipt and payment management policy that is in effect in the same period.
09 Q: Does the facilitating policy apply to the transfer of funds between foreign exchange accounts in the original currency?