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Rules for the Implementation of Foreign Exchange C
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1981.12.31
STATE ADMINISTRATION OF INDUSTRY & COMMERCE
 RULES  FOR  THE  IMPLEMENTATION  OF  FOREIGN  EXCHANGE CONTROLS
RELATING TO INDIVIDUALS
 (Approved  by the State Council on December 31, 1981 and Promulgated
by the State General Administration of Exchange Control on December 31,
1981)
 @@  Article  1.  These  Rules  are  formulated  in  order  to
implement the provisions of Chapter III of the Interim Regulations
on Foreign Exchange Control of the People's Republic of China.
 @@  Article  2.  When Chinese, foreign nationals or 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; they shall be permitted to retain 10%
in foreign exchange of each single  large  remittance  that  is
equivalent to 3,000 yuan or more in Renminbi.
 All  owners  shall  enjoy the relevant preferential treatment for
overseas Chinese  remittances  with respect to the Renminbi that they
receive through sales of foreign exchange remittances to the Bank
of China as mentioned above.
 @@  Article  3. When entrusting the Bank of China to repatriate the
foreign exchange  that  was kept in foreign countries or in Hongkong,
Macao or other regions  by  Chinese residing in China prior to the
founding of the People's Republic of China, by overseas Chinese prior
to their returning to take up residence  in the country or by
Hongkong and Macao compatriots prior to their returning to take up
residence  in  their  native places, or to repatriate the foreign
exchange received by inheriting property in foreign countries or in
Hongkong,  Macao  or other regions by Chinese residing in China after
the  founding  of the People's Republic of China, by overseas Chinese
after  their  returning  to  take up residence in the country or by
Hongkong  and  Macao  compatriots after their returning to take up
residence in  their  native places, the owners shall be permitted to
retain 30% of the foreign  exchange; as to the Renminbi received
after the remaining 70% is converted, the owners may enjoy the
relevant preferential treatment for overseas Chinese remittances.
 Foreign  nationals  and  stateless persons residing in China who
entrust the Bank  of  China to repatriate foreign exchange that they
have  kept abroad or that  they  have  received  by  inheriting
property  outside China shall be permitted to retain a portion of
the foreign exchange in accordance with the percentage as stipulated in
the preceding paragraph.
 @@  Article  4.  When  overseas  Chinese and Hongkong and Macao
compatriots, etc.  return  to take up residence in the country or in
their native places, they shall be permitted to retain 30% of any
foreign exchange that they remit or bring in, if they apply to the
Bank within two months after their entry;  as  to the Renminbi
received after the remaining 70% is converted, the owners may enjoy
the relevant preferential treatment for overseas Chinese remittances.
 The  application  for permission to retain a portion of the foreign
exchange brought  in as mentioned above can be made only after
producing the relevant Customs declaration.
 @@  Article  5. When personnel sent by the State to work in
foreign countries or to Hongkong, Macao or other regions return
home  after completion of their missions, they must promptly remit
or bring back to China the remaining foreign exchange from wages,
allowances, etc. that belongs to them, and it may not be kept abroad;
they shall be permitted to retain  the foreign exchange on the
strength of certification by our institutions functioning abroad.
 @@  Article  6.  Students,  trainees,  postgraduate students,
scholars, teachers,  coaches and other personnel who are sent by the
State to study in foreign countries or in Hongkong, Macao or other
regions must, upon their return,  promptly remit or bring back to
China what remains of the foreign exchange  they  have received
during  their stay abroad, and it may not be kept abroad; they shall
be permitted to retain the foreign exchange that they are entitled
to  receive,  on  the  strength of certification by our institutions
functioning abroad.
 @@  Article  7.  The  foreign exchange from fees for publication,
copyright royalties,  awards,  subsidies,  author's remuneration,
etc.  earned  by individuals  for  making  public  or publishing
abroad  their inventions, writings and the like, for speeches and
lectures made in their own name outside China, for their contributions
to foreign newspapers, magazines and specialized  journals, etc.,
must  promptly 

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