Several Opinions of the People’s Government of Guangxi Zhuang Autonomous Region on Expanding Foreign Trade[No. 32 (2003) of the People’s Government of Guangxi Zhuang Autonomous Region]
The following opinions are put forward in order to offer more services and support to foreign trade, to create a good business environment and to promote the development of foreign trade of Guangxi.
To offer more financial support
To abolish the examination items concerning “the stub of verification and writing-off form that an export entity shall submit to the Administration of Foreign Exchange within 60 days from the day when a customs declaration is submitted.”
To abolish the examination and approval items concerning “down payment and subordinating expenditures under border barter trade”.
The enterprises shall directly handle the matters in the banks upon the strength of relevant materials,
and the banks shall report the Administration of Foreign Exchange about those exceeding US $ 50, 000 of purchase and payment in foreign exchange for down payments or subordinating expenditures for archival purposes in time.
To establish and perfect the bank settlement mechanism for border areas The commercial banks in border areas shall establish agency relationship with those in the border areas of the neighboring countries,
shall open direct bank settlement channels, shall provide convenient and fast settlement services for border enterprises and shall guide them to integrate small amount of border trade settlements into bank settlement channel.
To increase the bank purchase prices of foreign cashes, and allow different places to float within the prescribed scope.
When determining the posted rate, each bank may let it float within the prescribed scope of the state in light of the local market situation.
To adopt flexible verification and writing-off polices for small amount of border trade, lift the restrictions on the verification and writing-off form in RMB or foreign cashes.
Where the export in small amount of border trade is settled in RMB, no matter what is the amount,
the border trade enterprises are allowed to go through the verification and writing-off formalities upon the strength of the customs declaration forms of the exported commodities,
the verification and writing-off forms for the foreign exchange collected in export, the entry declaration forms for carrying cashes in RMB upon verification and check of the customs or the certification for inward remittance of RMB.