Foreign Exchange Payment Remittance Simplifies Pactions Less Than $50 Thousand Without Examination.

< p > the responsible person of the foreign exchange bureau said that this reform is an important part of the reform of the foreign exchange management system and mechanism. In order to promote the purpose of "a href=" http://sjfzxm.com/news/index_c.asp "foreign exchange < /a > management convenience, the convenience of domestic institutions and individuals in handling foreign exchange business in service trade will be significantly improved.

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< p > the most notable aspect is the equivalent of 50 thousand US dollars. The service trade receipts and remittance businesses do not need to check the list.

Small pactions in service trade can be handled directly in financial institutions, and financial institutions may not examine paction documents in principle on the basis of a single trade equivalent of $50 thousand or less.

Through this measure, the majority of service trade can be facilitated.

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< p > for a href= "http://sjfzxm.com//business/" with an equivalent value of more than $50 thousand, service trade receipts and remittance business < /a >, financial institutions still need to examine the documents.

In fact, for the business that still needs to examine the documents, there are many simplifications in the request for examination, such as simplification and merger of the existing dozens of documents, and the abolition of the audit requirements for the approval and filing of most of the competent departments, and the cancellation of tax certificates for foreign exchange payment.

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< p > the person in charge of the above said that the "demarcation point" was 50 thousand dollars.

According to the data statistics in 2012, the examination and verification of the foreign exchange receipts and payments business of the enterprise's service trade with a single value equivalent to 50 thousand dollars (or below) can be cancelled. According to the calculation of the number of documents, it can cover about 88% of the service trade pactions of the enterprises, thus facilitating the vast majority of the service trade enterprises in China. The remaining 12% need to examine the service trade pactions of the documents in the financial institutions, which account for about 92% of the total amount of the trade in business services.

This way of managing small and medium-sized enterprises and highlighting key points is conducive to further improving the efficiency of foreign exchange management and reducing social costs.

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< p > at the same time, the notice relaxes the conditions for the foreign exchange earnings of foreign trade in domestic institutions, and allows the foreign exchange earnings of business groups to be concentrated outside the country.

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One side of the coin is < p a > http://sjfzxm.com/news/index_q.asp href= > Foreign Exchange Management > /a > facilitation, and the other is cross-border capital risk prevention.

The person in charge said that the combination of "facilitation" and "risk prevention" is an important principle for the reform of foreign exchange management in service trade.

While vigorously promoting service trade facilitation, foreign exchange management departments have intensified balanced management and post event management, strengthened two-way monitoring of inflow and outflow of foreign exchange in service trade, and established a off-site regulatory body closely integrated with macro analysis, meso monitoring and micro verification, so as to enhance the ability to identify, predict and prevent risks.

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At the same time, we should catch up with the big and small businesses, and seize the key subjects and large volume pactions. P

Moreover, it is required that domestic institutions and individuals should retain foreign exchange receipts and payments related documents of each trade in services for 5 years regardless of the size of their services in financial institutions.

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