ebtors should strengthen
the management of projects using foreign debts, raise the
economic efficiency and foreign exchange earning capacities of the
projects. The State encourages and supports various regions and
relevant departments and enterprises that are burdened with greater
amount of foreign debts to establish foreign debt payment funds
according to the proportions of their debts and open cash foreign
exchange deposit accounts. The debt payment foreign exchange
collected from exports may directly enter into such accounts. The
funds of the special accounts can only be used to pay principal and
interests of foreign debts and cannot be transferred or used for
other purposes.
Debtors should pay principals and interests from their special
debt payment funds. If there is difficulty in such payment, they should,
with the examination and approval of foreign exchange control
departments, use Renminbi to exchange for foreign currencies at
authorized banks for the payment according to loan agreements and by
presenting foreign debt registration certificates and verified
documents for payment of principal and interests. If a debtor
demands foreign debt payment before the date of repayment prescribed in
the loan agreement, it shall get the approval of exchange control
departments. The various banks are not allowed to handle foreign
payment for foreign debts not registered or liabilities incurred
through guarantees given by organizations inside China in violation
of provisions to legal persons outside China for borrowing.
For foreign exchange loans issued by financial organizations
inside China with their own funds, debtors may repay directly
from their foreign exchange income or from foreign exchange bought
from authorized banks according to loan agreements. After the new
system is in force, the foreign exchange loans issued by financial
organizations by using funds borrowed from abroad or foreign
exchange deposits will be repaid in foreign exchange acquired from
methods listed above.
Chapter Six The Current Foreign Exchange Control Methods
Concerning Foreign-funded Enterprises Will Keep on Implementation.
Foreign-funded enterprises are allowed to open cash foreign
exchange accounts with authorized banks or foreign funded banks for
their foreign exchange income. Foreign-funded enterprises may
carry out their international payments with the scope allowed by
the State or repay their foreign exchange loans issued by financial
organizations inside China, principal and interest, from their
cash foreign exchange accounts. If the foreign exchange needed for
production, operations, repayment of principal and interest of debts
and for remittance abroad is in excess of the balan上一页 [1] [2] [3] [4] [5] [6] 下一页
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