国家税务总局关于实施农、林、牧、渔业项目企业所得税优惠问题的公告
国家税务总局
国家税务总局关于实施农 林 牧 渔业项目企业所得税优惠问题的公告
国家税务总局公告2011年第48号
根据《中华人民共和国企业所得税法》（以下简称企业所得税法）及《中华人民共和国企业所得税法实施条例》（以下简称实施条例）的规定，现对企业（含企业性质的农民专业合作社，下同）从事农、林、牧、渔业项目的所得，实施企业所得税优惠政策和征收管理中的有关事项公告如下：
一、企业从事实施条例第八十六条规定的享受税收优惠的农、林、牧、渔业项目，除另有规定外，参照《国民经济行业分类》（GB/T4754-2002）的规定标准执行。
企业从事农、林、牧、渔业项目，凡属于《产业结构调整指导目录（2011年版）》（国家发展和改革委员会令第9号）中限制和淘汰类的项目，不得享受实施条例第八十六条规定的优惠政策。
二、企业从事农作物新品种选育的免税所得，是指企业对农作物进行品种和育种材料选育形成的成果，以及由这些成果形成的种子（苗）等繁殖材料的生产、初加工、销售一体化取得的所得。
三、企业从事林木的培育和种植的免税所得，是指企业对树木、竹子的育种和育苗、抚育和管理以及规模造林活动取得的所得，包括企业通过拍卖或收购方式取得林木所有权并经过一定的生长周期，对林木进行再培育取得的所得。
四、企业从事下列项目所得的税务处理
（一）猪、兔的饲养，按“牲畜、家禽的饲养”项目处理；
（二）饲养牲畜、家禽产生的分泌物、排泄物，按“牲畜、家禽的饲养”项目处理；
（三）观赏性作物的种植，按“花卉、茶及其他饮料作物和香料作物的种植”项目处理；
（四）“牲畜、家禽的饲养”以外的生物养殖项目，按“海水养殖、内陆养殖”项目处理。
五、农产品初加工相关事项的税务处理
（一）企业根据委托合同，受托对符合《财政部 国家税务总局关于发布享受企业所得税优惠政策的农产品初加工范围（试行）的通知》（财税〔2008〕149号）和《财政部 国家税务总局关于享受企业所得税优惠的农产品初加工有关范围的补充通知》（财税〔2011〕26号）规定的农产品进行初加工服务，其所收取的加工费，可以按照农产品初加工的免税项目处理。
（二）财税〔2008〕149号文件规定的“油料植物初加工”工序包括“冷却、过滤”等；“糖料植物初加工”工序包括“过滤、吸附、解析、碳脱、浓缩、干燥”等，其适用时间按照财税〔2011〕26号文件规定执行。
（三）企业从事实施条例第八十六条第（二）项适用企业所得税减半优惠的种植、养殖项目，并直接进行初加工且符合农产品初加工目录范围的，企业应合理划分不同项目的各项成本、费用支出，分别核算种植、养殖项目和初加工项目的所得，并各按适用的政策享受税收优惠。
（四）企业对外购茶叶进行筛选、分装、包装后进行销售的所得，不享受农产品初加工的优惠政策。
六、对取得农业部颁发的“远洋渔业企业资格证书”并在有效期内的远洋渔业企业，从事远洋捕捞业务取得的所得免征企业所得税。
七、购入农产品进行再种植、养殖的税务处理
企业将购入的农、林、牧、渔产品，在自有或租用的场地进行育肥、育秧等再种植、养殖，经过一定的生长周期，使其生物形态发生变化，且并非由于本环节对农产品进行加工而明显增加了产品的使用价值的，可视为农产品的种植、养殖项目享受相应的税收优惠。
主管税务机关对企业进行农产品的再种植、养殖是否符合上述条件难以确定的，可要求企业提供县级以上农、林、牧、渔业政府主管部门的确认意见。
八、企业同时从事适用不同企业所得税政策规定项目的，应分别核算，单独计算优惠项目的计税依据及优惠数额；分别核算不清的，可由主管税务机关按照比例分摊法或其他合理方法进行核定。
九、企业委托其他企业或个人从事实施条例第八十六条规定农、林、牧、渔业项目取得的所得，可享受相应的税收优惠政策。
企业受托从事实施条例第八十六条规定农、林、牧、渔业项目取得的收入，比照委托方享受相应的税收优惠政策。
十、企业购买农产品后直接进行销售的贸易活动产生的所得，不能享受农、林、牧、渔业项目的税收优惠政策。
十一、除本公告第五条第二项的特别规定外，公告自2011年1月1日起执行。
特此公告。
国家税务总局
二○一一年九月十三日
上海外资金融机构、中外合资金融机构管理办法(附英文)
人民银行
上海外资金融机构、中外合资金融机构管理办法(附英文)
人民银行
一九九0年九月七日国务院批准
第一章 总则
第一条 为了适应上海市对外开放和经济发展的需要，加强和完善外资金融机构、中外合资金融机构的管理，制定本办法。
第二条 本办法所称外资金融机构、中外合资金融机构是指依照本办法和中华人民共和国其他法律、法规的规定，经批准设立、登记注册和营业的下列机构：
（一）总行设在上海市的外国资本的银行（以下简称外资银行）；
（二）外国资本的银行在上海市设立的分行（以下简称外资银行分行）；
（三）外国资本的金融机构同中国资本的金融机构在上海市合资经营的银行（以下简称合资银行）；
（四）外国资本的金融机构同中国资本的金融机构在上海市合资经营的财务公司（以下简称合资财务公司）。
第三条 外资金融机构、中外合资金融机构必须遵守中华人民共和国的法律、法规，其正当业务活动和合法权益受中华人民共和国法律保护。
第四条 中国人民银行是审批、管理和监督外资金融机构、中外合资金融机构的主管机关；中国人民银行授权上海市分行对外资金融机构、中外合资金融机构进行日常管理和监督。
第二章 设立与登记
第五条 申请设立外资银行应当具备下列条件：
（一）投资者为金融机构；
（二）在中国境内已经设立代表机构三年以上；
（三）申请设立外资银行前一年年末资产总额在一百亿美元以上。
第六条 申请设立外资银行分行应当具备下列条件：
（一）在中国境内已经设立代表机构三年以上；
（二）申请设立外资银行分行前一年年末资产总额在二百亿美元以上；
（三）其所在国或者地区有完善的金融监管制度。
第七条 申请设立合资银行、合资财务公司应当具备下列条件：
（一）合资各方均为金融机构；
（二）外方投资者在中国境内设有代表机构。
第八条 设立外资银行，应当由投资者向中国人民银行提出申请，并提交下列证件、资料：
（一）设立外资银行的申请书，其内容包括：拟设银行的名称，注册资本和实收资本额，申请经营的业务种类等；
（二）可行性研究报告；
（三）最近三年的资产、负债状况的报告及有关证明文件；
（四）拟设银行的章程草案；
（五）所在国或者地区有关主管当局核发给投资者的营业执照（副本）；
（六）中国人民银行要求提交的其他证件、资料。
第九条 设立外资银行分行，应当由其总行向中国人民银行提出申请，并提交下列证件、资料：
（一）由董事长或者总经理签署的申请书，其内容包括：拟设分行的名称，总行拨给的营运资金数额，申请经营的业务种类等；
（二）最近三年的年报；
（三）所在国或者地区有关主管当局核发给申请设立分行的银行的营业执照（副本）；
（四）中国人民银行要求提交的其他证件、资料。
第十条 设立合资银行或者合资财务公司，应当由合资各方共同向中国人民银行提出申请，并提交下列证件、资料：
（一）设立合资机构的申请书，其内容包括：拟设合资机构的名称，合资各方名称，注册资本和实收资本额，合资各方出资比例，申请经营的业务种类等；
（二）合资各方共同编制的可行性研究报告；
（三）由合资各方授权代表草签的合资经营协议、合同以及拟设机构的章程草案；
（四）合资各方最近三年的资产、负债状况的报告及有关证明文件；
（五）所在国或者地区有关主管当局核发给合资各方的营业执照（副本）；
（六）中国人民银行要求提交的其他证件、资料。
第十一条 本办法第八、九、十条中所列证件、资料，除年报外，凡用外文书写的，均须附具中文译本。
第十二条 设立申请经中国人民银行审查同意后，发给申请者正式申请表。
正式申请表填写后，向中国人民银行提出正式申请，申请文件包括：
（一）由申请者法定代表或者授权代表签字的正式申请表（一式三份）；
（二）拟设机构主要负责人名单和简历；
（三）对拟任该机构主要负责人的授权书；
（四）设立外资银行分行的，其总行对该分行承担税务、债务的责任担保书；
（五）其他资料。
第十三条 外资金融机构、中外合资金融机构应当在接到中国人民银行批准证书后三十天内，依照中华人民共和国有关法律、法规规定，向工商行政管理机关办理登记注册，领取营业执照，并应当依法自开业之日起三十天内向税务机关办理税务登记。
第十四条 已经批准的外资金融机构、中外合资金融机构应当在领取营业执照后，向国家外汇管理局申领《经营外汇业务许可证》。
第十五条 已经批准的外资金融机构、中外合资金融机构自接到中国人民银行批准证书之日起十二个月内未营业者，原批准文件自动失效。
第十六条 外资金融机构、中外合资金融机构有下列情况之一的，须经中国人民银行核准：
（一）投资股本的调整、转让；
（二）变更营业场所；
（三）更换董事长（副董事长）、行长（副行长）、总经理（副总经理）、分行长（副分行长）；
（四）在境外设立分支机构。
第三章 注册资本和营运资金
第十七条 外资银行、合资银行的最低注册资本为三千万美元等值的自由兑换货币，合资财务公司的最低注册资本为二千万美元等值的自由兑换货币；其实收资本均不得低于其注册资本的50％。
外资银行分行应当由其总行专门拨给不少于一千万美元等值的自由兑换货币的营运资金。
第十八条 外资金融机构、中外合资金融机构应当在接到中国人民银行批准证书之后三十天内，筹足其实收资本或者营运资金，由中国注册会计师验证并出具证明。
第十九条 外资银行、合资银行、合资财务公司须每年从其税后净利润中提取25％的资金补充资本金，直至其实收资本加储备金的总额达到其注册资本的二倍。
外资银行分行须每年将税后净利润的25％保留在中国境内，用以补充营运资金，直至该保留盈利等于该行营运资金。
第四章 业务范围
第二十条 根据申请，中国人民银行批准外资银行、合资银行、外资银行分行经营下列业务的部分或者全部：
（一）外币存款；
（二）外币放款；
（三）外币票据贴现；
（四）外币投资；
（五）外币汇款；
（六）外汇担保；
（七）进出口结算；
（八）自营或者代客买卖外汇；
（九）外币有价证券买卖；
（十）代理外币及外币票据兑换；
（十一）代理外币信用卡付款；
（十二）保管及保管箱；
（十三）资信调查和咨询；
（十四）经批准的其他业务。
第二十一条 根据申请，中国人民银行批准合资财务公司经营下列业务的部分或者全部：
（一）外币放款；
（二）外币票据贴现；
（三）外币投资；
（四）外汇担保；
（五）外币有价证券买卖；
（六）资信调查和咨询；
（七）外币信托；
（八）每笔不少于十万美元、期限为三个月以上的外币存款；
（九）经批准的其他业务。
第二十二条 本章所称外币存款是指以外币表示的下列存款：
（一）境内外同业存款；
（二）境外的非同业存款；
（三）中国境内的外国人的存款；
（四）华侨和香港、澳门、台湾同胞的存款；
（五）外商投资企业存款；
（六）外资金融机构、中外合资金融机构对非外商投资企业贷款的转存款；
（七）经批准的其他存款。
第二十三条 外资银行、合资银行、外资银行分行在办理进出口结算业务时，服务对象为境内外商投资企业和有进出口经营权的非外商投资企业。但办理非外商投资企业的进口结算业务的，该项进口所需资金应当来自本银行的贷款。
第五章 业务管理
第二十四条 外资金融机构、中外合资金融机构经营存款业务，应当向中国人民银行上海市分行缴存存款准备金，其比率由中国人民银行制定，并根据需要进行调整。存款准备金不计利息。
第二十五条 外资金融机构、中外合资金融机构对一个企业及其关联企业的放款，不得超过其实收资本加储备金总额的30％，但经中国人民银行特许的除外。
第二十六条 外资金融机构、中外合资金融机构的投资总额不得超过其实收资本加储备金额的30％，但经中国人民银行批准投资于金融企业的除外。
第二十七条 外资金融机构、中外合资金融机构的总资产不得超过其实收资本加储备金总额的二十倍。
第二十八条 外资银行分行的营运资金的30％应当以中国人民银行指定的生息资产形式存在，包括在中国人民银行指定的银行存款等。
第二十九条 外资金融机构、中外合资金融机构的房地产不得超过其实收资本加储备金总额的25％，其他固定资产不得超过其实收资本加储备金总额的15％。
第三十条 外资金融机构、中外合资金融机构应当确保其资产的流动性。
第三十一条 外资金融机构、中外合资金融机构从中国境内吸收的存款不得超过该机构在中国境内的总资产的40％。
第三十二条 外资金融机构、中外合资金融机构应当按规定保留适当的呆帐准备金。
第三十三条 外资金融机构、中外合资金融机构的外币存、放款利率及各种手续费率，通过同业公会协商确定或者参照国际市场行情制定，报中国人民银行上海市分行核准。
第三十四条 外资金融机构、中外合资金融机构依法纳税后的利润，应当按照规定提取储备基金、职工奖励基金、福利基金和企业发展基金。
第三十五条 外资金融机构、中外合资金融机构应当至少聘用一名中国公民为高层管理人员。
外资金融机构、中外合资金融机构的高层管理人员不得兼任其他经济组织的重要职务。
第三十六条 外资金融机构、中外合资金融机构应当固定聘用中国注册会计师，并经中国人民银行上海市分行认可。
第六章 监督检查
第三十七条 外资金融机构、中外合资金融机构应当建立完善的内部稽核制度，增强自我约束的能力。
第三十八条 外资金融机构、中外合资金融机构须按规定向中国人民银行报送财务和业务报表。
第三十九条 中国人民银行及其上海市分行有权检查、稽核外资金融机构、中外合资金融机构的业务和财务状况。
第七章 解散与清算
第四十条 外资金融机构、中外合资金融机构自行终止业务活动，须在终止前三十天以书面形式向中国人民银行提出申请，经中国人民银行批准后予以解散并进行清算。
第四十一条 外资金融机构、中外合资金融机构无力偿付其债务的，中国人民银行可令其停业，限期清理。在清理期限内，已恢复偿付能力的机构，需要复业的，须向中国人民银行提出申请。
第四十二条 自行终止业务活动和依法被停业的外资金融机构、中外合资金融机构，其解散和清算事项，须按照中华人民共和国有关规定办理。
第四十三条 外资金融机构、中外合资金融机构进行清理，须在依法缴清税款和清偿全部债务后，方可退还股本、分配股利。
第四十四条 外资金融机构、中外合资金融机构清算完毕，应当在规定期限内向原登记机关办理注销登记。
第八章 罚则
第四十五条 违反本办法第二章规定，擅自设立外资金融机构、中外合资金融机构的，中国人民银行有权责令其停业，没收其非法所得，处以五万元以上、十万元以下人民币等值外汇的罚款。
第四十六条 外资金融机构、中外合资金融机构违反本办法第四章规定，超越批准业务范围从事经营的，中国人民银行及其上海市分行有权责令其停止所超越部分的经营活动，依法没收其超越部分的非法所得，处以一万元以上、五万元以下人民币等值外汇的罚款。
第四十七条 外资金融机构、中外合资金融机构违反本办法第五章规定，中国人民银行及其上海市分行有权责令其纠正、调整或者补足，并根据情节处以五千元以上、三万元以下人民币等值外汇的罚款。
第四十八条 外资金融机构、中外合资金融机构违反本办法第六章规定，未按期报送报表或者抗拒监督检查的，中国人民银行及其上海市分行可视其情节给予警告、通报或者处以三千元以上、一万元以下人民币等值外汇的罚款。
第四十九条 外资金融机构、中外合资金融机构违反本办法，情节严重的，中国人民银行可责令其停业直至撤销机构。
外资金融机构、中外合资金融机构违反其他法律、法规的，由有关主管机关依法予以处罚。
第九章 附则
第五十条 本办法对华侨资本和香港、澳门、台湾地区资本的金融机构，比照适用。
第五十一条 本办法发布施行前，已在上海市的外资银行分行，应当依照本办法的规定补办设立和登记手续；不符合本办法有关规定的，由中国人民银行上海市分行指定期限令其调整。
第五十二条 本办法由中国人民银行负责解释。中国人民银行可以根据本办法制定具体规定。
第五十三条 本办法自发布之日起施行。(附英文)
MEASURES FOR THE ADMINISTRATION OF FOREIGN-CAPITAL FINANCIALINSTITUTIONS AND CHINESE-FOREIGN EQUITY JOINT FINANCIAL INSTITUTIONS INTHE SHANGHAI MUNICIPALITY
Important Notice: (注意事项)
英文本源自中华人民共和国务院法制局编译, 中国法制出版社出版的《中华人民
共和国涉外法规汇编》(1991年7月版).
当发生歧意时, 应以法律法规颁布单位发布的中文原文为准.
This English document is coming from the "LAWS AND REGULATIONS OF THE
PEOPLE'S REPUBLIC OF CHINA GOVERNING FOREIGN-RELATED MATTERS" (1991.7)
which is compiled by the Brueau of Legislative Affairs of the State
Council of the People's Republic of China, and is published by the China
Legal System Publishing House.
In case of discrepancy, the original version in Chinese shall prevail.
Whole Document (法规全文)
MEASURES FOR THE ADMINISTRATION OF FOREIGN-CAPITAL FINANCIAL
INSTITUTIONS AND CHINESE-FOREIGN EQUITY JOINT FINANCIAL INSTITUTIONS IN
THE SHANGHAI MUNICIPALITY
(Approved by the State Council on September 7, 1990 and promul-
gated by Decree No. 2 of the People's Bank of China on September 8, 1990)
Chapter I General Provisions
Article 1
These Measures are formulated for the purpose of meeting the needs of
opening to the outside world and the economic development of the Shanghai
Municipality, strengthening and perfecting the administration of foreign-
capital financial institutions and Chinese-foreign equity joint financial
institutions.
Article 2
The term "foreign-capital financial institutions and Chinese-foreign
equity joint financial institutions", referred to in these Measures,
denotes the following institutions which are established with approval and
registered to engage in business operations in accordance with these
Measures and with the pertinent provisions of other laws and regulations
of the People's Republic of China:
1) foreign-capital banks with their head offices established in the
Shanghai Municipality (hereinafter referred to as "foreign bank");
2) branches of foreign banks established in the Shanghai Municipality
(hereinafter referred to as "foreign branch bank");
3) banks established in the Shanghai Municipality with joint capital and
operation by foreign financial institutions and Chinese financial
institutions (hereinafter referred to as "joint bank"); and
4) financial companies established in the Shanghai Municipality with joint
capital and operation by foreign financial institutions and Chinese
financial institutions (hereinafter referred to as "joint financial
company").
Article 3
Foreign-capital financial institutions and Chinese-foreign equity joint
financial institutions shall abide by the laws and regulations of the
People's Republic of China and their legitimate business activities and
lawful rights and interests shall be protected by Chinese laws.
Article 4
The People's Bank of China is the competent authority in charge of
examining and approving, administering, and supervising foreign-capital
financial institutions and Chinese-foreign equity joint financial
institutions. The People's Bank of China authorizes its Shanghai Branch to
exercise day-to-day administration and supervision of foreign-capital
financial institutions and Chinese-foreign equity joint financial
institutions.
Chapter II Establishment and Registration
Article 5
Any party applying for the approval to set up a foreign bank shall satisfy
the following requirements:
1) the investor is a financial institution;
2) the applicant has a representative office of more than three years'
standing inside China; and
3) the applicant possesses total assets of more than US$ 10 billion at the
end of the year prior to the submission of such an application.
Article 6
Any party applying for the approval to set up a foreign branch bank shall
satisfy the following requirements:
1) the applicant has a representative office of more than three years'
standing inside China;
2) the applicant possesses total assets of more than US$ 20 billion at the
end of the year prior to the submission of such an application; and
3) in the home country or region of the applicant, there is a sound system
for financial administration and supervision.
Article 7
Parties applying for the approval to set up a joint bank or a joint
financial company shall satisfy the following requirements:
1) each investing party to a joint bank or joint financial company is a
financial institution; and
2) the foreign investor has a representative office inside China.
Article 8
For a foreign bank to be set up, the foreign investor shall apply to the
People's Bank of China and submit the following documents and data:
1) an application for the establishment thereof, which shall include the
name of the intended bank, the registered capital and the amount of the
paid-in capital, and the types of business operations the bank intends to
engage in;
2) a feasibility study report;
3) the statements of assets and liabilities of the investor during the
three successive years prior to the submission of such an application,
together with the relevant certifying documents;
4) the draft articles of association of the intended bank;
5) a copy of the business licence of the investor approved and issued by
the competent authority concerned in the home country or region of the
investor; and
6) other documents and data as required by the People's Bank of China.
Article 9
For a foreign branch bank to be set up, the head office of the foreign
bank concerned shall apply to the People's Bank of China and submit the
following documents and data: 1) an application duly signed by the
chairman of the board of directors or the general manager of the bank,
which shall include the name of the intended branch bank, the amount of
operating funds approved and allocated by the head office, and the types
of business operations the branch bank intends to engage in;
2) annual reports for the three successive years prior to the submission
of such an application;
3) a copy of the business licence of the applying bank approved and issued
by the competent authorities of the home country or region of the applying
bank; and 4) other documents and data as required by the People's Bank of
China.
Article 10
For a joint bank or a joint financial company to be set up, all the
parties thereto shall jointly apply to the People's Bank of China and
submit the following documents and data:
1) an application for the establishment thereof, which shall include the
name of the intended joint financial institution, the name of each
investing party thereto, the registered capital and the amount of the
paid-in capital, the respective percentage of contributions by the
parties, and the types of business operations the joint financial
institution intends to engage in;
2) a feasibility study report jointly prepared by the parties thereto;
3) the agreement, the contract and the draft articles of association of
the joint financial institution initialled by the authorized
representative of each of the parties thereto;
4) the statements of assets and liabilities of each of the parties thereto
during the three successive years prior to the submission of such an
application, together with relevant supporting documents;
5) copies of the respective business licences of all the parties thereto
approved and issued by the competent authorities concerned of the home
country or region of each of the parties; and
6) other documents and data as required by the People's Bank of China.
Article 11
Any of the documents and data prescribed in Articles 8, 9 and 10 of these
Measures, with the exception of the annual reports, if written in a
foreign language, shall be submitted together with a Chinese translation
thereof.
Article 12
After the application for the approval of such establishment has been
examined and approved by the People's Bank of China, an official
application form shall be issued to the applicant(s).
The applicant(s) shall, after filling in the official application form,
formally apply to the People's Bank of China and shall submit the
following documents for the application:
1) the official application form duly signed by the legal
representative(s) of the applicant(s) or the representative(s) authorized
by the applicant(s) (which shall be submitted in triplicate);
2) a list of the principal persons in charge of the institution to be set
up and their respective curriculum vitae;
3) power(s) of attorney for the principal persons in charge of the
institution; 4) where a foreign branch bank is to be set up, letters of
undertaking issued by the head office assuming for its branch office the
obligations for tax payment and debt repayment; and
5) other relevant data.
Article 13
A foreign-capital financial institution or a Chinese-foreign equity joint
financial institution shall, within 30 days of receipt of the certificate
of approval issued by the People's Bank of China, undertake the procedures
of registration for the issuance of business licence with the
administrative department for industry and commerce in accordance with the
pertinent laws and regulations of the People's Republic of China and
shall, within 30 days of commencement of business operations, undertake
the procedures for tax registration with the tax authorities in accordance
with the law.
Article 14
A foreign-capital financial institution or a Chinese-foreign equity joint
financial institution whose establishment has been approved shall, after
obtaining the business licence, apply to the State Administration of
Foreign Exchange Control for the approval and issuance of a Licence for
Business Operations in Foreign Exchange.
Article 15
In the event that a foreign-capital financial institution or a Chinese-
foreign equity joint financial institution should fail to commence its
business operations within 12 months of receipt of the certificate of
approval issued by the People's Bank of China, the certificate of approval
shall automatically become null and void.
Article 16
A foreign-capital financial institution or a Chinese-foreign equity joint
financial institution shall apply to the People's Bank of China for
verification and approval in respect of any one of the following items:
1) adjustment and transfer of the investment capital stock;
2) change of the business site;
3) change of the chairman (or the vice-chairman) of the board of
directors, or the president (or the vice-president), the general manager
(or the deputy general manager), or the president (or vice-president) of a
branch office; and
4) establishment of a branch office outside China.
Chapter III Registered Capital and Operating Funds
Article 17
The minimum amount of the registered capital of a foreign bank or a joint
bank shall be freely convertible currencies equivalent to US$ 30 million.
The minimum amount of the registered capital of a joint financial company
shall be freely convertible currencies equivalent to US$ 20 million. Their
respective paid-in capital shall be no less than 50 percent of their
respective registered capital.
A foreign branch bank shall be allocated as its operating funds by its
head office a sum of freely convertible currencies equivalent to not less
than US$ 10 million.
Article 18
A foreign-capital financial institution or a Chinese-foreign equity joint
financial institution shall, within 30 days of receipt of the certificate
of approval issued by the People's Bank of China, raise in full the paid-
in capital operating funds, which shall be verified by a Chinese
registered accountant, who shall, upon verification, issue a certificate
to that effect.
Article 19
Each year, a foreign bank, a joint bank, or a joint financial company
shall allocate 25 percent of its after-tax net profit as supplementary
capital until the total amount of the paid-in capital and reserve funds is
twice that of the registered capital. Each year, a foreign branch bank
shall keep 25 percent of its after-tax net profit inside China to
supplement its operating funds until the kept profit is equal to its
operating funds.
Chapter IV Business Scope
Article 20
The People's Bank of China shall, based on the application submitted to
it, grant permission to a foreign bank, a joint bank, or a foreign branch
bank to engage in part or all of the following business operations:
1) deposits in foreign currencies;
2) loans in foreign currencies;
3) discounts of negotiable instruments in foreign currencies;
4) investments in foreign currencies;
5) remittances in foreign currencies;
6) guarantees of foreign exchange;
7) import and export settlement;
8) buying and selling of foreign exchange on its own account or on
customers' account; 9) buying and selling of securities in foreign
currencies;
10) acting as an agent for the exchange of foreign currencies and for the
cashing of negotiable instruments in foreign currencies;
11) acting as an agent for payments against credit cards in foreign
currencies; 12) custody and safe deposit box services;
13) credit and financial standing investigation and consultancy services;
and 14) other services approved.
Article 21
The People's Bank of China shall, based on the application submitted to
it, grant permission to a joint financial company to engage in part or all
of the following business operations:
1) loans in foreign currencies;
2) discounts of negotiable instruments in foreign currencies;
3) investments in foreign currencies;
4) guarantees of foreign exchange;
5) buying and selling of securities in foreign currencies;
6) credit and financial standing investigations and consultancy services;
7) trust in foreign currencies;
8) deposits in foreign currencies with each deposit amounting to not less
than US$ 100,000 for period of no less than three months; and
9) other services approved.
Article 22
The terms "deposits in foreign currencies" referred to in this Chapter
denotes the following deposits denominated in foreign currencies:
1) interbank deposits inside and outside China;
2) non-interbank deposits outside China;
3) deposits by foreigners inside China;
4) deposits by overseas Chinese and by compatriots from Hong Kong, Macao
and Taiwan; 5) deposits by enterprises with foreign investment;
6) deposits of loans granted by foreign-capital financial institutions or
Chinese-foreign equity joint financial institutions to enterprises other
than those with foreign investment; and
7) other kinds of deposits approved.
Article 23
In handling import and export settlement, foreign banks, joint banks or
foreign branch banks shall offer services only to enterprises with foreign
investment and those enterprises other than those with foreign investment
which are authorized to engage in import and export operations. But with
respect to import settlement with enterprises other than those with
foreign investment, the funds needed for the import in question shall have
come from the loans of the bank which is handling the settlement.
Chapter V Management of Business
Article 24
A foreign-capital institution or a Chinese-foreign equity joint financial
institution which engages in deposit business operations shall place
deposit reserves with the Shanghai Branch of the People's Bank of China.
The ratios of the reserves as against various deposits shall be determined
by the People's Bank of China and shall be adjusted in accordance with the
actual needs. Such deposit reserves shall be interest-free.
Article 25
The total amount of loans which a foreign-capital financial institution or
a Chinese-foreign equity joint financial institution grants to any one
enterprise and its associated enterprises may not exceed 30 percent of the
sum total of its paid-in capital and its total reserves, with the
exception of loans specially approved by the People's Bank of China.
Article 26
The total amount of investments by a foreign-capital financial institution
or by a Chinese-foreign equity joint financial institution may not exceed
30 percent of the sum total of its paid-in capital and its total reserves,
with the exception of investments in financial enterprises approved by the
People's Bank of China.
Article 27
The total assets of a foreign-capital financial institution or of a
Chinese-foreign equity joint financial institution may not exceed 20 times
the sum total of its paid-in capital and its total reserves.
Article 28
30 percent of the operating funds of a foreign branch bank shall be put by
in the form of interest-bearing assets as prescribed by the People's Bank
of China, which shall include depositing the said funds in a bank or banks
designated by the People's Republic of China.
Article 29
Real estate owned by a foreign-capital financial institution or by a
Chinese-foreign equity joint financial institution may not exceed 25
percent of the sum total of its paid-in capital and its total reserves;
its other assets may not exceed 15 percent thereof.
Article 30
A foreign-capital financial institution or a Chinese-foreign equity joint
financial institution shall ensure the mobility of its assets.
Article 31
The total amount of deposits by sources inside China in a foreign-capital
financial institution or in a Chinese-foreign equity joint financial
institution may not exceed 40 percent of its total assets inside China.
Article 32
A foreign-capital financial institution or a Chinese-foreign equity joint
financial institution shall maintain proper reserves for bad debts in
accordance with the relevant provisions.
Article 33
The interest rates of deposits and loans of a foreign-capital financial
institution or of a Chinese-foreign equity joint financial institution and
the various service charges shall be determined by the Bankers'
Association through consultation or be fixed in the light of the
international market and shall be submitted to the Shanghai Branch of the
People's Bank of China for approval.
Article 34
A foreign-capital financial institution or a Chinese-foreign equity joint
financial institution shall, in accordance with the relevant provisions,
draw the reserve fund, the staff bonus fund, the welfare fund and the
enterprise development fund from the profit after tax paid in accordance
with the law.
Article 35
A foreign-capital financial institution or a Chinese-foreign equity joint
financial institution shall engage at least one Chinese citizen as member
of its senior managerial body. The senior managerial personnel of a
foreign-capital financial institution or of a Chinese-foreign equity joint
financial institution may not concurrently hold important positions in any
other economic organizations.
Article 36
A foreign-capital financial institution or a Chinese-foreign equity joint
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