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  China Customs Tips 2013.4.28-5.4 Week 18
  

1. On May 5, 2013, the State Administration of Foreign Exchange (SAFE) released the Circular of the State Administration of Foreign Exchange on Issues Concerning Intensification of the Administration of Inflow of Foreign Exchange Funds (the  "Circular").

According to the Circular, except for policy banks, the formula of computation for the limit for synthetic positions of the banks in the settlements and sales of foreign exchange is: "the lower limit for synthetic positions of all banks in the settlements and sales of foreign exchange=(the balance of domestic foreign exchange loans at the end of last month - the balance of foreign exchange deposits at the end of last month × reference loan-to-deposit ratio)×the adjustment factor to balance of payments". In which, the reference loan-to-deposit ratio of Chinese-funded banks is 75%, the reference loan-to-deposit ratio of foreign-funded banks is 100%, and the adjustment factor to balance of payments is 0.25; the balance of domestic foreign exchange loans or the balance of foreign exchange deposits is to be calculated based on the data of the Monthly Report on Credit Receipts and Payments of Financial Institutions issued by the People’s Bank of China, and domestic foreign exchange loans do not include on-lending of overseas financing.

2. On May 3, 2013, the Legislative Affairs Office of the State Council (LAOSC) promulgated the Administrative Regulations of the People’s Republic of China on Entry and Exit of Aliens (Draft for Comments). The LAOSC is soliciting public comments until June 30, 2013.

The draft for comments mainly sets forth: the categories of, and the issuance procedures for, ordinary visa; conditions and procedures for issuance, extension, renewal and reissuance of ordinary visa; conditions and procedures for issuance, extension, renewal and reissuance of residence permits of aliens; the administration of stay and residence of aliens; and legal liability for illegal acts.
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