Adoption of a lenient policy towards holding of foreign currencies by enterprises by the State Administration of Foreign Currencies

State Administration of Foreign Currencies
Issue of State Administration of Foreign Currencies [2005] No. 58
Aug 2, 2005

On Aug 2, 2005, the State Administration of Foreign Currencies issued a notice to increase the ratio of foreign currency to be held by enterprises. Details as follows:

If enterprises' ratio of foreign currency expenses to foreign currency revenue is below 80% in the previous year, the ratio of foreign currency allowed to preserve in their special approved foreign currency accounts increased from 30% to 50% of the foreign currency revenue in the previous year.

If enterprises' ratio of foreign currency expenses to foreign currency revenue is above or equal to 80% in the previous year, the ratio of foreign currency allowed to preserve in their special approved foreign currency accounts increased from 50% to 80% of the foreign currency revenue in the previous year.

As there is no special foreign currency revenue in the previous year for those newly-opened special approved foreign currency accounts, the initial limit for these accounts has been changed from US$100,000 to US$200,000.

For those enterprises in import, export and manufacturing business, the maximum ratio for special approved foreign currency accounts can be 100% of foreign currency revenue after obtaining approval from the State Administration of Foreign Currencies.

國家外匯管理局
匯發[2005]58號
2005年8月2日

國家外匯管理局2005年8月2日發出通知再次提高境內機構經常專案外匯賬戶保留現匯的比例。主要內容如下：

1. 如果境內機構上年度經常專案外匯支出占經常專案外匯收入的比例在80%以下的，則該機構經常專案外匯賬戶可保留現匯的比例，由其上年度經常專案外匯收入的30%更改為50%。

2. 如果境內企業上年度經常專案外匯支出占經常專案外匯收入的比例在80%及以上的，則該機構經常專案外匯賬戶保留現匯的比例，由其上年度經常專案外匯收入的50%更改為80%。

3. 對於新開立經常專案外匯賬戶的境內機構，如果上年度沒有經常專案外匯收入，則該機構開立經常專案外匯賬戶的初始限額，由以前的不超過等值10萬美元更改為不超過等值20萬美元。

4. 對於有實際經營需要的進出口及生?型企業，經主管外匯管理局核准，可按該企業外匯收入的100%核定經常專案外匯賬戶限額。