Article 40 Commercial banks may not grant fiduciary loans to their connections. Commercial banks shall, pursuant to law, conduct business operations without interference from any unit or individual. Article 46 Inter-bank lending shall be carried out in adherence to the regulations of the People's Bank of China. Article 9 Foreigners may be exempted from the Employment License and Employment Permit when they meet any of the following conditions:. Chapter IV. Article 61 Commercial banks shall, in accordance with relevant regulations, submit to the banking regulatory authority under the State Council and the People's Bank of China their balance sheets, profit accounts and other financial, accounting and statistical statements and information. Article 4 The labor administrative authorities of the people's government of the provinces, autonomous regions and municipalities directly under the Central Government and those at the prefecture and city level with their authorization are responsible for the administration of employment of foreigners in China. The banking regulatory authority under the State Council may readjust the minimum amount of registered capital on the basis of the requirements of prudent supervision and control, however, the readjusted amount may not be lower than the amount specified in the preceding paragraph. Article 80 If a commercial bank fails to submit the relevant documents and information to the banking regulatory authority under the State Council in accordance with relevant regulations, it shall be instructed by the said authority to rectify; and if it fails to rectify at the expiration of the time limit, it shall be fined not less thanyuan but not more thanyuan. Commercial banks shall have the right to refuse to answer the inquiries into and to refuse to freeze, deduct or transfer an individual's savings 外汇网上交易平台 Forex online trading platform
as made or requested by any unit or individual, except where otherwise provided for by law. The agency is also responsible for:. If a borrower fails to repay a secured loan upon maturity, the commercial bank shall lawfully have the right to require the surety to repay the loan principal and the interest thereon or the right to preferential compensation in respect of the collateral. If a commercial bank 中华人民共和国外汇管理条例 english Regulations of the Peoples Republic of China on Foreign Exchange Administratio branch thereof fails, without good reason, to commence business more than six months after the date of obtaining its business license or, after commencing business, suspends business without authorization for six months or more in succession, the banking regulatory authority under the State Council shall revoke its permit for operation and make it known to the public. Article 23 The banking regulatory authority under the State Council shall announce its approval of the establishment of commercial banks and their branches. Article 19 The Employment 全球外汇十大平台排名 Top 10 Global Forex Platforms Ranking
of the employed foreigner shall cease to be effective upon the expiration of the term of the labor contract between the foreigner and his employer.
China's State Administration of Foreign Exchange was created in in the nation's capital, Beijing, where it is headquartered. Article 64 When a commercial bank has suffered or will 奥弗外汇 Ofer Forex
suffer, credit crisis, thereby seriously affecting the interests of the depositors, the banking regulatory authority under the State Council may assume control over the bank. Article 12 A commercial bank shall meet the following requirements for establishment: 1 having articles of association that conform to this Law and the Company Law of the People's Republic of China ; 2 having the minimum amount of registered capital as specified in this Law; 3 having directors and other senior administrators with the expertise and experience in work commensurate with 外汇市场 Foreign exchange market
positions they are holding; 4 having a sound organizational structure and management system; and 5 having 境外汇款限额2017办法 2017 Measures for Overseas Remittance Limits
required place of business, security and precautionary measures and other facilities relevant to it business operations. Article 10 Foreigners may be exempted from the Employment License and may apply directly for the Employment Permit by presenting their Employment Visas and relevant papers after their entry when they meet any of the following conditions:. If employees of a commercial bank fail to refuse to grant a loan or to provide a guaranty forcibly demanded by a unit or individual, disciplinary measures shall be taken against them and, if losses are caused thereby, they shall assume appropriate liability for compensation. SAFE has a series of administrative offices or branchescentral sub-branches, and sub-branches set up in different provinces and cities across China, which report directly to the federal government. In the decision made by the banking regulatory authority under the State Council to assume control shall be clearly stated the following particulars: 1 the name of the commercial bank over which control is to be assumed; 2 the reason for the assumption of control; 3 the organization that shall assume control; and 4 the period or time for the control. Funds lent under such loans shall be limited to idle funds that remain after a sufficient reserve against deposit has been retained, sufficient provision for payment has been made and matured loans from the People's Bank of China have been repaid. Due to record 国际外汇转账手续费 International foreign exchange transfer fee
of outbound direct investment ODI in recent years, the Chinese government introduced new capital controls through a number of announcements by government agencies at the end of We also reference 外汇保证金交易 Forex Margin Trading
research from other reputable publishers where appropriate. The examination and approval by the competent trade authorities is not required for foreign-funded enterprises to employ foreigners, and such enterprise may submit their applications directly to the Certificate Office of the labor administrative authorities for the Employment License, bringing with them the contract, articles of association, certificate of approval, business license and the 中华人民共和国外汇管理条例 english Regulations of the Peoples Republic of China on Foreign Exchange Administratio referred to in Article 11 of these Rules. Article 15 If an application for establishing a commercial bank is found, after examination, to be in conformity with the provisions of Article 14 of this Law, the applicant shall complete an official application form and provide the following documents and information:. Article 26 Should the labor disputes arise between the employer and its foreign employee, they should be handle in accordance with the Labour Law of the People's Republic of China and the Regulations of the People's Republic of China on Settlement of Labour Disputes in Enterprises.
above told the
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When liquidation is carried out after a commercial bank is declared bankrupt, payment of the principal of savings deposits of individuals and the interest thereon shall be given priority after the liquidation expenses, the wages owed to the 外汇返佣 Foreign exchange rebate
and labor insurance premiums have been paid. However, the maximum period of time for control shall be two years. Article 84 If an employee of a commercial bank, paypal 外汇管制 paypal foreign exchange control
advantage of his duties, demands, receives or accepts bribes or, in violation of State regulations, receives or accepts rebates or commissions of any description, which is serious enough to constitute, criminal responsibility shall be investigated according to law; and if it is not serious enough to constitute a crime, a disciplinary sanction shall be imposed on him. Article 37 For granting a loan, the commercial bank shall conclude a written contract with the borrower. No unit or individual may engage in commercial banking business such as taking in deposits from the general public, and no unit may use the word "bank" in its name, without approval of the banking regulatory authority under the State Council. The offers that appear in this table are from partnerships from which Investopedia receives compensation. Select personalised content. Personnel referred to in Article 10 1 of these Rules should apply for the Employment Visas by presenting their letter or telex of visa notification by authorized unit 中华人民共和国外汇管理条例 english Regulations of the Peoples Republic of China on Foreign Exchange Administratio the documentation on projects of cooperation and exchange; personnel refereed to in Article 10 2 should apply for the Employment Visas by presenting their letter or telex of visa notification by the authorized unit and the registration certification issued by the administrative authorities of industry and commerce. Notice: In case of discrepancy, the original version in Chinese shall prevail. The contract shall stipulate the type, purpose, amount and interest rate of the loan, the time limit for repayment, the method of repayment, liability for breach of contract and other matters deemed necessary by the parties. A common pitfall for foreign businesses is underestimating their costs, and overestimating their profits, leading to a shortfall of capital. For the purposes of the preceding paragraph, the term "connections" means: 1 directors, supervisors, administrators and loan officers of the commercial bank and close relatives of such persons; 2 companies, enterprises and other economic organizations in which the persons mentioned in the preceding paragraph have invested or in which they hold senior administrative positions. Commercial banks shall have the right to refuse to grant a loan or to provide a guaranty forcibly demanded by any unit or individual. We also reference original research from other reputable publishers where appropriate. Government scrutiny of ODI varies based on the amount of money being sent, the industry of the target, the receiving country, and the investor. Your Practice. Upon approval of the People's Bank of China, commercial banks 外汇交易平台 Forex trading platform
engage in the business of the settlement and sale of foreign exchange. Article 14 To establish a commercial bank, the applicant shall provide the following documents and information to the banking regulatory authority under the State Council:. Article 2 For the purposes of this Law, the term "commercial banks" means enterprise legal persons that are established in conformity with this Law and the Company Law of the People's Republic of China and that take in deposits from the general public, grant loans, handle settlements, etc. Article 7 Any foreigner seeking employment in China shall meet the following conditions:. Article 12 A commercial bank shall meet the following requirements for establishment: 1 having articles of association that conform to this Law and the Company Law of the People's Republic of China ; 2 having the minimum amount of registered capital as specified in this Law; 3 having directors and other senior administrators with the expertise and experience in work commensurate with the positions they are 关于外汇的书籍 Books on Forex
4 having a sound organizational structure and management system; and 5 having the required place of business, security and precautionary measures and other facilities relevant to it business operations. The Employment License and the Employment Permit shall be designed and prepared exclusively by the Ministry of Labour. Article 53 No employees of commercial banks may disclose State or business secrets that they come to know during their employment. Assumption of Control and Termination. When a commercial bank establishes a branch within the People's Republic of Chinait shall allocate operating funds in 农业银行外汇汇率 Agricultural Bank Foreign Exchange Rate
with the scale of its business, in accordance with regulations. Article 5 中华人民共和国外汇管理条例 english Regulations of the Peoples Republic of China on Foreign Exchange Administratio banks shall adhere to the principles of equality, voluntariness, fairness and good faith in business dealings with their clients. Product Directory China Search. Division and merger of commercial banks shall be subject to examination and approval by the banking regulatory authority under the State Council. Article 90 If a commercial bank or its employees disagree with a decision on a punishment made by the banking regulatory authority under the State Council, or the People's Bank of China, they may institute proceedings with a People's Court in accordance with the provisions of the 境外汇款至境内申报内容 Contents of overseas remittance to domestic declaration
Procedure Law of the People's Republic of China. Article 34 Individual economic organizations and private citizens are prohibited from employing foreigners. Article 62 The banking regulatory authority under the State Council shall have the right at any time to carry out inspection of and exercise supervision over the deposits, loans, settlements, doubtful accounts, etc. Article 3 商业 银行
Rules shall apply to employed foreigners within Chinese territory and their employers. Country Search Hot Buys. When a director or a senior administrator is to be replaced, the qualifications of the substitute for the position shall be submitted to the 中华人民共和国外汇管理条例 english Regulations of the Peoples Republic of China on Foreign Exchange Administratio regulatory authority under the State Council for examination. Article 30 Commercial banks shall have the right to refuse to answer the inquiries into a unit's deposits by any other unit or individual, except where otherwise provided for by laws and administrative rules and regulations, and shall have the right to refuse to freeze, deduct or transfer a unit's deposits as requested by any other unit or individual, except where otherwise provided for by law. Article 44 When handling matters of settlement such as acceptance or remittance of negotiable instruments or entrusted receipt of payment, etc. Supplementary Provisions. Labor administration. Article 93 In handling their business such as exness外汇 exness forex,
loans and settlements, urban credit cooperatives and rural credit cooperatives shall apply the relevant provisions of this Law. Commercial banks shall make their own decisions regarding their business operations, take responsibility for their own risks, assume sole responsibility for their profits and losses and exercise self-restriction. Article 7 In credit transactions, commercial banks shall strictly examine the credit-worthiness of a borrower and implement the system of guaranty in order to ensure that the loan is recovered on schedule.
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