中国人民银行离岸银行业务管理办法实施细则

(Promulgated on and effective as of 13 May 1998.)
颁布日期：19980513 　实施日期：19980513 　颁布单位：国家外汇管理局

PART ONE　GENERAL PROVISIONS

Article 1　These Rules have been formulated in accordance with the Administration of Offshore Banking Procedures (hereafter referred to as the Procedures) in order further to standardize banks' conduct of offshore banking and to provide more detailed guidelines for banks conducting offshore banking.

Article 2　For the purposes of these Rules, "offshore banking" refers to Chinese banks and their branches conducting offshore banking with the approval of the State Administration of Foreign Exchange.

PART TWO　APPLICATIONS TO CONDUCT OFFSHORE BANKING

Article 3　Foreign exchange business personnel of the appropriate quality as referred to in Section (3), Article 9 of the Procedures refers to personnel who have been assessed by foreign exchange administrations and who hold a certificate of qualification in offshore banking. Such personnel should number no less than five.

Article 4　The internal administration and regulation system and risk control system as referred to in Section (4), Article 9 of the Procedures must include:

1. internal administration and regulation system and operating procedures corresponding to each type of business applied for;

2. risk prevention measures for each type of business;

3. fund administration system;

4. accounting system; and

5. internal reporting system.

Article 5　The appropriate location and facilities as referred to in Section (5), Article 9 of the Procedures must include:

1. independent places of business for all offshore business; and

2. complete computer and communications facilities for the offshore business department.

Article 6　The application document for conduct of offshore banking as referred to in Section (1), Article 10 of the Procedures must include:

1. main reasons for applying to operate offshore banking;

2. scope of offshore banking being applied for; and

3. preparations for offshore banking, such as preparation of personnel, equipment, location etc.

Article 7　The feasibility report for offshore banking referred to in Section (2), Article 10 of the Procedures must cover the following main areas:

1. necessity and feasibility of conducting offshore banking; and

2. local economic development and assessment of volume of offshore banking business.

Article 8　The consolidated foreign currency statement referred to in Section (5), Article 10 of the Procedures should be in US dollars and the consolidated Renminbi and foreign currency statement should be in Renminbi. Exchange rates are:

1. for foreign currency to foreign currency, the closing price on the Hong Kong financial market on the previous working day; and

2. for Renminbi to foreign currency, the closing price on the Chinese foreign exchange trading centre on the previous working day.

Article 9　The checking and accepting report referred to in Article 10 of the Procedures should guarantee that all preparatory work by the applicant bank is in accord with all requirements in the provisions of the Procedures and of these Rules, and should be filled in on the checking and acceptance form.

Article 10　Branches of banks approved to conduct offshore banking may not conduct offshore banking on behalf of the bank.

Article 11　Foreign exchange security refers to the provision of security in the name of the offshore bank to a non-resident on behalf of a non-resident. Offshore banks conducting foreign exchange security business should abide by the provisions of the Administration of the Provision of Security to Foreign Entities by Domestic Institutions Procedures and of their implementing rules.

Article 12　The interlocutors in the face-to-face interview referred to in Article 18 of the Procedures shall be the principal senior official in the offshore banking department and the bank manager or deputy manager in charge of offshore banking. The interview shall principally cover:

1. degree of understanding of policies, laws and regulations on finance and foreign exchange administration;

2. understanding of local offshore market development;

3. business plan and internal control system for that bank's offshore banking;

4. establishment and preparation of the offshore business department; and

5. other matters as required by the State Administration of Foreign Exchange.

PART THREE　ADMINISTRATION OF OFFSHORE BANKING

Article 13　Offshore banking shall implement independent accounting. Its accounts shall be handled using the loan book-keeping law and the foreign exchange separate accounts system. Independent accounting certificates should be filled in for each currency, independent account books set up and independent financial report forms and statistics forms drawn up.

Article 14　Offshore banks shall carry out independent assessment of offshore banking risk in accordance with the following proportions:

1. the proportion of offshore liquid assets to offshore liquid liabilities shall be no less than 60 per cent;

2. the proportion of offshore liquid assets to total offshore assets shall be no less than 30 per cent;

3. the sum of offshore loans and security (discounted at 50 per cent of the balance of the security) to a single client must not exceed 30 per cent of the bank's own foreign currency funds; and

4. the proportion of offshore foreign currency negotiable securities (excluding blue chip securities and government bonds) must not exceed 20 per cent of the bank's total offshore assets.

Article 15　Compensation between offshore banks' offshore and onshore cash positions must not exceed 10 per cent of the average monthly balance of total offshore assets in the previous year.

Net inflow of foreign currency after compensation between offshore and onshore cash positions must not exceed that year's short-term foreign debt index set by the State Administration of Foreign Exchange.

Article 16　Wholesale issue of transferable certificates of deposit by offshore banks must not exceed 40 per cent of the monthly average balance of liabilities for the previous year.

Article 17　Applications to offshore banks by organizations within China for offshore loans shall be regarded as international commercial loans and administered in accordance with the Administration of Taking 0ut of International Commercial Loans by Organizations in China Procedures.

Article 18　Organizations within China acting as the security party and providing security to offshore banks on behalf of non-residents must abide by the provisions of the Administration of the Provision of Security to Foreign Entities by Domestic Institutions Procedures and of their implementing rules.

Article 19　Offshore banks dealing with Renminbi income from mortgages within China in accordance with the law which need to change this into foreign currency must report each transaction to the local foreign exchange administration for examination and approval.

Article 20　Wholesale issue of transferable certificates of deposit by offshore banks must be in accord with the following criteria:

1. the bank abides by national laws and regulations and had not committed any major violations of laws and regulations for the past three years;

2. it has been conducting offshore banking for over one year and is running this well;

3. total offshore banking assets exceed US$ 100 million; and

4. other conditions stipulated by the State Administration of Foreign Exchange.

Article 21　The headquarters of offshore banks should submit an application for wholesale issue by the bank of transferable certificates of deposit. The application should contain the following:

1. application document explaining the use to which funds raised will be put, the issue plan and the repayment plan;

2. market analysis and feasibility study;

3. analysis of the bank's offshore banking business; and

4. other documents required by the State Administration of Foreign Exchange.

Article 22　When opening an offshore account all customers must provide the offshore bank with valid documentation.

1. When non-resident legal person clients open an offshore account they must provide the following:

(1) copy of the commercial registration certificate or organization registration certificate;

(2) copy of identity card or passport of the senior official;

(3) copy of the organizational outline and constitution;

(4) letter of appointment for opening the account; and

(5) specimen seal impression.

2. When non-resident natural persons open an offshore account they should provide valid legal documentation which can prove their non-resident status.

Offshore banks should verify the material for opening an account provided by the non-resident and keep a copy on file.

Article 23　Development companies within China selling property for foreign sale inside China may with the approval of the local foreign exchange administration open a special account in an offshore banking department. The account shall be closed once the business is concluded.

Article 24　Offshore banks should submit regular offshore banking financial reports, statistics reports and business analyses to their local foreign exchange administration, and guarantee the truth and completeness of the information submitted.

Types of report include:

1. Financial report: Offshore Banking Asset and Liability Form (monthly) and Offshore Banking Profit and Loss Form (quarterly); and

2. Statistics reports: Offshore Loan Statistics Form (monthly), Offshore Settlement Statistics Form (monthly), Offshore Bad Debts Statistics Form (monthly), Offshore Large-Scale Loan Statistics Form (monthly), Offshore Security Statistics Form (monthly) and Offshore Interbank Lending Statistics Form (monthly).

Article 25　When offshore banks discover the circumstances stipulated in Article 29 of the Procedures the local foreign exchange administration must implement special regulation, encourage timely rectification and inform the State Administration of Foreign Exchange and the bank's headquarters in a timely fashion according to the seriousness of the situation.

Article 26　In accordance with the Administration of Offshore Banking Procedures and these Rules local foreign exchange administrations shall carry out an annual inspection and assessment of the offshore banking business of offshore banks.

PART FOUR　SUPPLEMENTARY PROVISIONS

Article 27　Offshore banks can in accordance with these Rules formulate their own administration of offshore banking procedures and file these with the foreign exchange administrations under which they come and with the State Administration of Foreign Exchange.

Article 28　The State Administration of Foreign Exchange shall be responsible for interpreting these Rules.

Article 29　These Rules shall be implemented as of 13 May 1998.