Foreign Exchange Management Policy

Release time：

2022-08-26

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Enterprises can register current account foreign exchange accounts and capital account special foreign exchange accounts, and the current account foreign exchange account limit needs to be approved.
Duty-free and bonded goods entering and leaving the Comprehensive Bonded Zone shall be settled in foreign currency, and other goods entering and leaving the Comprehensive Bonded Zone may be settled in foreign currency or RMB.
Enterprises do not implement the contract verification and write-off system, and foreign exchange receipts and payments under inbound and outbound trade with foreign countries do not need to go through the verification procedures for foreign exchange receipts and payments at the State Administration of Foreign Exchange. Foreign exchange is paid from the bank with relevant documents.
Enterprises are allowed to purchase foreign exchange in certain conditions, and RMB funds are allowed to register enterprises. Chinese and foreign-funded enterprises can open foreign exchange spot accounts by purchasing foreign exchange not exceeding the actual RMB part of their registered capital. The foreign exchange income from the business operation of enterprises shall be voluntarily settled, and the foreign exchange income may be retained in full.

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