ChineseEnglish
    SAFE News
    • Index number:
      000014453-2019-0043
    • Dispatch date:
      2010-07-29
    • Publish organization:
      State Administration of Foreign Exchange
    • Exchange Reference number:
    • Name:
      The SAFE Circulates Information about the Situation regarding Inspections of the Foreign Exchange Businesses Operated by Banks
    The SAFE Circulates Information about the Situation regarding Inspections of the Foreign Exchange Businesses Operated by Banks

    Recently, a meeting was held in Beijing by the State Administration of Foreign Exchange (SAFE) to circulate information about the situation regarding inspections of the foreign exchange businesses operated by banks. Deng Xianhong, deputy administrator of the SAFE, attended the meeting and delivered a speech. Representatives from 21 Chinese-funded banks and 7 foreign-funded banks attended the meeting.

    It was stressed at the meeting that due to the drastic changes in the domestic and international economic and financial environments, the SAFE has taken active steps to prevent risks from abnormal cross-border fund flows and to crack down strongly on various types of violations of the foreign exchange laws and regulations. During the past two years, the SAFE carried out in succession a series of special inspections throughout the country of the foreign exchange businesses operated by banks. The results show that the designated foreign exchange banks have enhanced their awareness of regulatory compliance and risk prevention and have made improvements to comply with the regulations. But it was also discovered that some banks are still operating in breach of the foreign exchange regulations.

    The meeting circulated information about the banks violations of the regulations with respect to the operation of foreign exchange businesses. Typical examples of violations include:  failure to fulfill the obligation to examine authenticity when handling agent businesses, violating the regulations for the administration of foreign exchange accounts, declaration of the balance of payments, capital fund and settlement and sales of exchange by individuals; violations of the regulations with regard to external debt, the comprehensive position of exchange settlement and sales, capital conversions of home and foreign currencies, and so forth, when handling foreign exchange businesses. Meanwhile, there are some specific phenomena in bank operations that require attention. These are: the constant low-level of operations of the comprehensive position by some banks, the hyper-normal increase in foreign exchange loans by some banks, and the increase in the number of interest arbitrage trade financing products by some banks. These violations can be attributed to three factors: the first is that some banks are weak in their awareness of regulatory compliance and driven by profit-making motives, some banks have deliberately lowered standards to examine authenticity; the second is that the internal control mechanisms of some banks are still imperfect, and their capability to execute their management system is weak; the third is that since the outbreak of the global financial crisis, some banks, driven by profit-making motives, have increasingly focused on business expansion and have overlooked regulatory compliance in their business operations.

    Some representatives of the banks spoke at the meeting. They introduced their operations of foreign exchange business and some specific measures for enhancing the construction of internal control systems, optimizing foreign exchange business procedures, upgrading relevant techniques, and so on. They also made some suggestions about further refining foreign exchange administration policies, promoting policy dissemination and training, strengthening communications between the SAFE and banks, as well as other foreign-related economic entities.

    The meeting established the requirement that all banks shall conscientiously follow the concept of operating prudently and developing in a scientific manner. Banks are required to actively undertake their social responsibilities and to operate in strict compliance with the policies on foreign exchange administration. Looking into the future, on the one hand the SAFE will continue to uphold a people-oriented philosophy, strive to improve the quality of services, achieve the Five Transformations, and take practical measures to facilitate the operations of banks, enterprises, and individuals. On the other hand, efforts will be made to constantly refine foreign exchange administration policies, to enhance statistics, monitoring, and analysis, to strengthen foreign exchange inspections, to adopt a combination of inspections both on a regular and irregular basis, to constantly expand the scope of inspections, to increase the frequency of inspections, to further intensify efforts to punish violations of the foreign exchange laws and regulations, to effectively check illegal foreign exchange transactions, such as the inflow of hot money, and to promote the healthy and stable development of the foreign-related economy and finance.



    The English translation may only be used as a reference. In case a different interpretation of the translated information contained in this website arises, the original Chinese shall prevail.

    Contact Us | For Home | Join Collection

    State Administration of Foreign Exchange

    主站蜘蛛池模板: 国产一区二区精品久久凹凸| 富二代app免费下载安装ios二维码| 亚洲的天堂av无码| 老司机一级毛片| 国产成人久久久精品二区三区| 69视频免费看| 天天综合网久久| 中国精品白嫩bbwbbw| 日本边添边摸边做边爱边视频| 亚洲一线产区二线产区精华| 污视频网站在线观看免费| 免费无码成人片| 翁止熄痒禁伦短文合集免费视频 | 污污视频在线免费观看| 公和我在厨房好爽中文字幕| 色多多福利网站老司机| 国产区卡一卡二卡三乱码免费| 日本尤物精品视频在线看| 国产精品第一页第一页| 99re66热这里只有精品17| 天天综合亚洲色在线精品| 一区二区视频在线播放| 成人爱做日本视频免费| 久99久无码精品视频免费播放| 日韩av片无码一区二区三区不卡| 亚洲av日韩精品久久久久久久| 欧美怡红院成免费人忱友;| 亚洲第一永久色| 波多野结衣作品大全| 亚洲高清毛片一区二区| 玩弄丰满少妇人妻视频| 你把腰抬一下不然没法发动| 窝窝影院午夜看片| 免费看无码特级毛片| 精品久久久久久无码中文字幕| 午夜无码A级毛片免费视频| 美国毛片亚洲社区在线观看| 国产91在线免费| 老头天天吃我奶躁我的视频| 四虎最新紧急更新地址| 老妇bbwbbw视频|