Regulations for Administration of Buy and Sale of Spot and Forward Foreign Exchange by Financial Institutes on Clients' Behalf
Regulations for Administration of Buy and Sale of Spot and Forward Foreign Exchange by Financial Institutes on Clients' Behalf
Regulations for Administration of Buy and Sale of Spot and Forward Foreign Exchange by Financial Institutes on Clients' Behalf
Hui Guan Hui Zi [88] No.98
February 13, 1988
Article 1 The present Regulations are formulated in order to guard against the risks of foreign exchange rate, stabilize the costs of import and export trade (including other foreign economic activities) and develop the businesses of buy and sale of spot and forward foreign exchange.
Article 2 The Bank of China can be entrusted to buy and sell spot and forward foreign exchange by departments, organizations, enterprises, institutes and other units (hereinafter referred to as the client) in the territory of China.
Other financial institutes intending to conduct the businesses mentioned in the preceding paragraph shall be approved by the State Administration of Exchange Control.
Article 3 Buy and Sale of foreign exchange referred in the present Regulations is the buy and sale of foreign exchange among all kinds of convertible currencies. gated on March 10, 1983 shall be abrogated on the same date.
Article 4 The client intending to entrust the Bank of China or other financial institutes approved by the State Administration of Exchange Control(hereinafter referred to as the designated financial institute) on its behalf to buy and sell spot and forward foreign exchange shall be approved by the State Administration of Exchange Control or its local bureau except for the following two situations:
1.
......
Hui Guan Hui Zi [88] No.98
February 13, 1988
Article 1 The present Regulations are formulated in order to guard against the risks of foreign exchange rate, stabilize the costs of import and export trade (including other foreign economic activities) and develop the businesses of buy and sale of spot and forward foreign exchange.
Article 2 The Bank of China can be entrusted to buy and sell spot and forward foreign exchange by departments, organizations, enterprises, institutes and other units (hereinafter referred to as the client) in the territory of China.
Other financial institutes intending to conduct the businesses mentioned in the preceding paragraph shall be approved by the State Administration of Exchange Control.
Article 3 Buy and Sale of foreign exchange referred in the present Regulations is the buy and sale of foreign exchange among all kinds of convertible currencies. gated on March 10, 1983 shall be abrogated on the same date.
Article 4 The client intending to entrust the Bank of China or other financial institutes approved by the State Administration of Exchange Control(hereinafter referred to as the designated financial institute) on its behalf to buy and sell spot and forward foreign exchange shall be approved by the State Administration of Exchange Control or its local bureau except for the following two situations:
1.
......