Measures for Reporting Balance of Payments Statistics
2018-03-17 1404
Measures for
Reporting Balance of Payments Statistics (Revised in 2013)
Order of the State Council of the People's Republic of
November 9, 2013
(Approved by the State Council on August 30, 1995, promulgated by the People's
Bank of China on September 14, 1995, and revised according to the Decision of
the State Council on Revising the Measures for Reporting Balance of Payments
Statistics on November 9, 2013)
Article 1 In order to improve balance of payments statistics, these Measures
are formulated according to the Statistics Law of the People's Republic of
Article 2 The scope of reporting balance of payments statistics covers all and
any economic transactions between Chinese residents and non-Chinese residents
as well as the status of foreign financial assets and liabilities of Chinese
residents.
Article 3 In these Measures, Chinese residents refer to:
1. natural persons who stay in the territory of China for not less than one
year, except for students and persons accepting medical treatment who are from
foreign countries and the regions of Hong Kong, Macao and Taiwan, and foreign
staff members of foreign embassies and consulates in China and their family
members;
2. Chinese persons who stay abroad for a short-time (with an overseas stay of
less than one year), study abroad, or accept medical treatment aboard, and
staff members of Chinese embassies and consulates in foreign countries and
their family members;
3. legal persons of enterprises and institutions (including foreign-invested
enterprises, and foreign-invested financial institutions) and China-based
agencies (excluding China-based agencies of international organizations and
foreign embassies and consulates in
4. state organs (including Chinese embassies and consulates in foreign
countries), social organizations and troops of
Article 4 These Measures apply to all the areas within the
Article 5 The State Administration of Foreign Exchange (hereinafter referred to
as the "SAFE"), according to the procedures specified in the
Statistics Law of the People's Republic of China, is responsible for organizing
and implementing the reporting of balance of payments statistics, and
supervising and inspecting such reporting; surveying, summarizing and
announcing the status of balance of payments; formulating and revising the
detailed implementing rules of these Measures; and preparing and issuing the
forms and statements of reporting balance of payments statistics. Relevant
governmental departments shall assist in reporting balance of payments
statistics.
Article 6 The reporting of balance of payments statistics is subject to the
principle of reporting by transaction subjects, adopting the measures of
combining indirect reporting with direct reporting and reporting on
transaction-by-transaction basis with regular reporting.
Article 7 Chinese residents and non-Chinese residents carrying out economic
transactions within the
Article 8 Where a Chinese resident carries out a transaction with a non-Chinese
resident through a domestic financial institution, the Chinese resident shall
report the transaction details to the SAFE or its branch or sub-branch through
the financial institution.
Article 9 Institutions that provide such services as depositary trust and
clearing within the
Article 10 Various types of financial institutions within the territory of
China shall directly report to the SAFE or its branch or sub-branch the
information about their proprietary foreign operations, including their foreign
financial assets and liabilities and the change therein, relevant receipt and
disbursement of profits and interests, as well as the receipt and disbursement
of foreign financial services and other receipt and disbursement; and perform
the obligations relating to the activities that Chinese residents and
non-Chinese residents report balance of payments statistics through the
financial institutions.
Article 11 Non-financial institutions in
Article 12 Foreign-invested enterprises, enterprises with outbound direct
investment and other non-financial institutions with foreign financial assets
and liabilities which are within the territory of China must directly report to
the SAFE or its branch or sub-branch their foreign financial assets and
liabilities and the change therein, and relevant receipt and disbursement of
profits, dividends and interests.
Article 13 Chinese residents, as individuals, with foreign financial assets and
liabilities shall, according to the provisions of the SAFE, report relevant
information about their foreign financial assets and liabilities.
Article 14 The SAFE or its branch or sub-branch may conduct sampling survey or
general survey with regard to balance of payments.
Article 15 The SAFE or its branch or sub-branch has the power to investigate
and verify the information reported by Chinese residents and non-Chinese
residents, and the reporters and relevant institutions and individuals shall
provide the materials and convenience necessary for such investigation and
verification.
Article 16 The SAFE and its branches and sub-branches shall strictly keep
confidential specific data reported by the reporters, which is only used for
the balance of payments statistics. Unless otherwise specified by the law, the
personnel who carry out the balance of payments statistics shall not provide
specific data reported by reporters to any institution or individual in any
way.
Banks, dealers, and institutions that provide such services as depositary trust
and clearing shall strictly keep confidential specific data reported by
reporters, of which they are aware in the course of handling their operations.
Article 17 Where Chinese residents and non-Chinese residents fail to report the
balance of payments statistics according to the provisions, the SAFE or its
branch or sub-branch punishes them according to Article 48 of the
Administrative Regulations of the People's Republic of
Article 18 The personnel who carry out the balance of payments statistics are
subject to the penalty legally if they violate Article 16 hereof.
Where the SAFE or its branch or sub-branch, banks, dealers, and institutions
that provide such services as depositary trust and clearing violate Article 16
hereof, legal liability is to be investigated legally.
Article 19 The SAFE formulates the Implementing Rules for the Measures for
Reporting Balance of Payments Statistics according to these Measures.
Article 20 These Measures become effective on January 1, 1996.
