Important Notice: This English document is coming from the "LAWS AND REGULATIONS OF THEPEOPLE'S REPUBLIC OF CHINA GOVERNING FOREIGN-RELATED MATTERS" (1991.7)which is compiled by the Brueau of Legislative Affairs of the StateCouncil of the People's Republic of China, and is published by the ChinaLegal System Publishing case of discrepancy, the original version in Chinese shall prevail. Whole Document RULES FOR THE IMPLEMENTATION OF FOREIGN EXCHANGE CONTROL RELATINGTO INDIVIDUALS(Approved by the State Council on December 31, 1981, promulgatedby the State Administration of Foreign Exchange Control on December 31,1981)Article 1These Rules are formulated in order to implement the provisions of ChapterIII of the Interim Regulations on Foreign Exchange Control of the People'sRepublic of ticle 2When Chinese, foreign nationals and stateless persons residing in China,receive foreign exchange remitted from foreign countries or from HongKong, Macao or other regions, they must sell it to the Bank of China; theyshall be permitted to retain 10% in foreign exchange of each single largeremittance that is equivalent to 3,000 yuan or more in l owners shall enjoy the relevant preferential treatment for overseasChinese remittances with respect to the Renminbi that they receive throughsales of foreign exchange remittances to the Bank of China as ticle 3When entrusting the Bank of China, to repatriate the foreign exchange thatwas kept in foreign countries or in Hong Kong, Macao or other regions byChinese residing in China prior to the founding of the People's Republicof China, by overseas Chinese prior to their returning to and settlingdown in China, or by Hong Kong and Macao compatriots prior to theirreturning to and settling down in their native places, and to repatriatethe foreign exchange received by inheriting property in foreign countriesor in Hong Kong, Macao or other regions by Chinese residing in China afterthe founding of the People's Republic of China, by overseas Chinese aftertheir returning to and settling down in China, or by Hong Kong and Macaocompatriots after their returning to and settling down in their nativeplaces, the owners shall be permitted to retain 30% of the foreignexchange; as to the Renminbi received after the remaining 70% isconverted, the owners may enjoy the relevant preferential treatment foroverseas Chinese reign nationals and stateless persons residing in China, when entrustingthe Bank of China to repatriate foreign exchange that they have keptabroad or that they have received by inheriting property outside China,shall be permitted to retain a portion of the foreign exchange inaccordance with the percentage as stipulated in the preceding ticle 4When overseas Chinese and Hong Kong and Macao compatriots, etc. return toand settle down in China or in their native places, they shall bepermitted to retain 30% of the foreign exchange that they remit or bringinto, if they apply to the Bank within two months after their entry; as tothe Renminbi received after the remaining 70% is converted, the owners mayenjoy the relevant preferential treatment for overseas Chineseremittances. The application for permission to retain a portion of theforeign exchange brought into as mentioned above can be made only on thestrength of the relevant Customs declaration ticle 5When personnel sent by the State to work in foreign countries or in HongKong, Macao or other regions return home upon completion of theirmissions, they must promptly remit or bring back to China the remainingforeign exchange from wages, allowances, etc. that belongs to them, and itshall not be kept abroad; they shall be permitted to retain the foreignexchange on the strength of certification issued by Chinese organizationsstationed ticle 6Students, trainees, postgraduate students, scholars, teachers, coaches andother personnel who are sent by the State to study in foreign countries orin Hong Kong, Macao or other regions must, upon their return, promptlyremit or bring back to China the remaining amount of the foreign exchangethat they have received during their stay abroad, and it shall not be keptabroad; they shall be permitted to retain the foreign exchange that theyare entitled to receive, on the strength of certification issued byChinese organizations stationed ticle 7The foreign exchange from fees for publication, copyright royalties,awards, stipend, author's remuneration, etc. earned by individuals forpublications of their inventions, writings and the like abroad, forspeeches and lectures made in their own names outside China, for theircontributions to foreign newspapers, magazines and specialized journals,etc., must promptly be repatriated and shall not be kept abroad;individuals shall be permitted to retain the foreign exchange that theyare entitled to receive according to the relevant provisions approved bythe State Council or the ministries or commissions concerned, or with theapproval of the State Administration of Foreign Exchange ticle 8The foreign exchange that individuals are permitted to retain under thepreceding Articles must be deposited with the Bank of China. Such depositsin foreign currency may be remitted abroad or may be taken abroad on thestrength of certification issued by the Bank of China; if these depositsare converted into Renminbi, the owners may enjoy the relevantpreferential treatment for overseas Chinese remittances. However, thesedeposit certificates may not, without authorization, be carried or sentout of China either by holders or by others or by e foreign exchange retained by individuals may not be dealt with inviolation of the provisions in paragraph 2, Article 4 of the InterimRegulations on Foreign Exchange Control of the People's Republic of ticle 9Chinese, foreign nationals and stateless persons residing in China shallbe permitted to keep in their own possession the foreign exchange alreadyin China. However, such foreign exchange shall not, without authorization,be carried or sent out of China by owners or others or by post; if theowners need to sell the foreign exchange, they must sell it to the Bank ofChina, and the matter shall be handled by applying mutatis mutandis theprovisions of Article 2 of these ticle 10The foreign exchange remitted or brought into China from foreign countriesor from Hong Kong, Macao or other regions by foreign nationals coming toChina, by overseas Chinese and Hong Kong and Macao compatriots returningfor a short stay, by foreign experts, technicians, staff and workersengaged to work in China, and by foreign students and trainees, etc., maybe kept in their own possession, may be sold to or deposited with the Bankof China, or may be remitted or taken out of China on the strength of theoriginal Customs declaration form filled out at the time of ticle 11When foreign experts, technicians, staff members and workers engaged towork in organizations within China need to apply for remitting or takingabroad their foreign exchange, the Bank of China shall handle the matterin accordance with the stipulations as provided in the relevant contractsor ticle 12These Rules shall be promulgated and put into effect by the StateAdministration of Foreign Exchange Control upon approval by the StateCouncil.