The people's Bank of China printed and distributed the notice on supporting cross-border RMB settlement of new foreign trade formats

For implementation 《 Opinions of the general office of the State Council on accelerating the development of new forms and models of foreign trade 》 and 《 Opinions of the general office of the State Council on promoting the stability and quality improvement of foreign trade 》, In recent days, , Issued by the people's Bank of China 《 Circular on supporting cross-border RMB settlement of new foreign trade formats 》（ hereinafter referred to as 《 notice 》）, Support banks and Payment institutions to better serve the development of new forms of foreign trade .

《 notice 》 The main contents include ： One is Increase support for new forms of foreign trade , We will improve policies related to cross-border RMB business of new foreign trade formats such as cross-border e-commerce . Two is The cross-border business scope of the payment institution is divided into goods trade 、 Trade in services was expanded to all current accounts . The third is Identify the bank 、 Requirements for business development and filing of Payment institutions and other relevant business entities . Fourth, Clarify the business authenticity audit 、 Anti money laundering 、 Anti terrorist financing 、 Requirements for anti tax evasion and data submission , Compact the business responsibilities of banks and Payment institutions , Prevent and control business risks .

《 notice 》 since 2022 year 7 month 21 Effective from . The people's Bank of China will make steady progress 《 notice 》 The implementation of , Provide good supporting financial services for the market players of new foreign trade formats , Give full play to cross-border RMB business to serve the real economy 、 The positive role of promoting the high-quality development of new forms of foreign trade , We will support and guide the healthy, sustainable and innovative development of new forms and models of foreign trade , Help stabilize the macro-economic market .

The attachment ：《 Circular on supporting cross-border RMB settlement of new foreign trade formats 》

Circular of the people's Bank of China on supporting cross-border RMB settlement of new foreign trade formats （ Silver hair 〔2022〕139 Number ）

Shanghai headquarters of the people's Bank of China , Branches 、 Business management department , Provincial Capitals （ Capital, ） City Center sub branch , All sub provincial city central sub branches ; The National Development Bank , Policy banks 、 State-owned commercial bank , China Post Savings Bank , Joint stock commercial banks ; China UnionPay 、 Cross border clearing companies 、 Online Clearing Co., Ltd ：

For implementation 《 Opinions of the general office of the State Council on accelerating the development of new forms and models of foreign trade 》（ National Development Office 〔2021〕24 Number ）, Give further play to cross-border RMB settlement business to serve the real economy 、 The role of promoting trade and investment facilitation , Support the development of new forms of foreign trade , The relevant matters are hereby notified as follows ：

One 、 stay “ Know your customers ”“ Know your business ” and “ Due Diligence ” On the basis of the three principles , Domestic banks may cooperate with non bank payment institutions that have obtained Internet payment business licenses according to law （ Hereinafter referred to as payment institution ）、 Cooperation with legally qualified clearing institutions , Provide cross-border RMB settlement services under current accounts for market trading entities and individuals .

The market transaction subject mentioned in this Notice refers to cross-border e-commerce 、 Market procurement trade 、 Overseas warehouses, foreign trade comprehensive service enterprises and other new foreign trade operators 、 Consumers who buy goods or services .

Two 、 Domestic banks cooperating with payment institutions should have 3 More than years of experience in cross-border RMB settlement business , Meet the relevant requirements of the reserve bank , Have the ability to audit the authenticity of cross-border RMB settlement business of Payment institutions 、 The power of legitimacy , Anti money laundering that adapts to the characteristics of cross-border RMB settlement business of Payment institutions 、 Anti terrorist financing 、 Anti tax evasion system processing capacity .

3、 ... and 、 A payment institution participating in the provision of cross-border RMB settlement services specified in this Circular shall meet the following conditions ：

（ One ） Register in China and obtain the Internet payment business license according to law .

（ Two ） There is a real cross-border business demand for cross-border settlement in RMB .

（ 3、 ... and ） Have a sound internal control system and full-time personnel related to cross-border business , Be able to do a good job of merchant information collection and access management in accordance with the requirements of this notice and relevant regulations , Transaction information collection , Authenticity of cross-border business 、 Legality review, etc .

（ Four ） Anti money laundering related to cross-border RMB settlement services 、 Anti terrorist financing 、 Specific systems and measures against tax evasion ; Have efficient cross-border RMB settlement services related to anti money laundering 、 Anti terrorist financing 、 Anti tax evasion system processing and docking capabilities .

（ 5、 ... and ） Comply with relevant national laws and regulations , Compliance management , Strong risk control ability , There have been no serious violations in the past two years .

Four 、 Domestic banks handle cross-border RMB settlement business for payment institutions , The payment institution shall be assessed for its business development capacity in accordance with Article 3 of this circular , Sign a cross-border RMB settlement business agreement with a payment institution , Clarify the rights and obligations of both parties , And in 10 Within working days, report to the branch above the central sub branch of the sub provincial city of the people's Bank of China where it is located （ Hereinafter referred to as the branch of the people's Bank of China ） Keep on record . A domestic bank shall evaluate the business development capability of the registered payment institution every year and regularly submit it to the local branch of the people's Bank of China . The cross-border RMB settlement business agreement is changed , A domestic bank shall 10 To file with the local branch of the people's Bank of China within working days . For the payment institution or the cross-border RMB settlement business agreement that fails to meet the relevant requirements of Article 3 of this notice after evaluation, the agreement is terminated , A domestic bank shall 10 Report to the local branch of the people's Bank of China within working days and handle the cancellation filing .

5、 ... and 、 The cross-border RMB settlement business specified in this notice shall be authentic 、 Legal transaction basis , And comply with relevant national laws and regulations . Domestic banks and Payment institutions cooperate to carry out cross-border RMB settlement business specified in this circular , Both parties shall negotiate to establish a business authenticity review mechanism , Work together to ensure the authenticity of business background 、 Legality review , It is not allowed to provide cross-border RMB settlement services for illegal transactions in any form .

（ One ） Domestic bank 、 Payment institutions should strengthen the management of market transaction subjects , Collect the basic information of market transaction subjects according to law , And regularly check and update , Establish a negative list of market trading entities .

（ Two ） Domestic bank 、 The payment institution shall, according to the type of market transaction subject 、 Transaction characteristics, etc , Reasonably determine the single transaction limit of various cross-border RMB settlement businesses .

（ 3、 ... and ） Domestic bank 、 Payment institutions shall establish and improve the in-process audit and post event spot check systems for cross-border RMB settlement businesses , Strengthen the supervision of large transactions 、 Suspicious transactions 、 Monitoring of abnormal transactions such as high-frequency transactions , Relevant information shall be kept at least 5 Annual reference .

（ Four ） A payment institution shall establish a transaction information collection and verification system , For transactions with high risk of violation , The payment institution shall require the market transaction subject to provide relevant documents ; Unable to confirm that the transaction is true and legal , Relevant cross-border RMB settlement businesses should be refused .

（ 5、 ... and ） A domestic bank cooperating with a payment institution finds any abnormal situation , Corresponding measures shall be taken in time , Including but not limited to requiring payment institutions and transaction related parties to provide authentic and legal documents and materials for suspicious transactions ; Confirm that there are abnormal conditions , A domestic bank shall 5 Report to the local branch of the people's Bank of China within working days . Domestic banks shall be jointly and severally liable for the illegal business of Payment institutions according to law .

Domestic banks directly provide cross-border RMB settlement services for market transaction entities as stipulated in this circular , Refer to this notice .

6、 ... and 、 When domestic banks and Payment institutions provide cross-border RMB settlement services , Anti money laundering shall be performed according to law 、 Anti terrorist financing 、 Duty against tax evasion , Comply with the law against cross-border gambling 、 Relevant provisions on telecom network fraud and illegally engaging in payment agency business .

7、 ... and 、 Domestic banks shall follow the RMB cross-border collection and payment information management system （RCPMIS） Relevant requirements for information submission , In time 、 accuracy 、 Complete submission of cross-border collection and payment data , Netting settlement shall be restored to collection and payment information submission . Domestic bank 、 The payment institution shall properly keep the original collection and payment data of the actual domestic collection and payment institution or individual before the centralized collection and payment or netting settlement for future reference .

8、 ... and 、 The people's Bank of China and its branches may, according to law, carry out off-site monitoring on the cross-border RMB settlement business of new foreign trade formats carried out by domestic banks and Payment institutions , Domestic banks and Payment institutions shall cooperate .

Nine 、 Support domestic banks and Payment institutions to improve their service capabilities , Increase support for cross-border RMB settlement business of new foreign trade formats , Enrich the supporting products for cross-border RMB settlement business of new foreign trade formats , Reduce the transaction cost of the main body of the market .

Ten 、 This notice is from 2022 year 7 month 21 The effective date .《 Circular of the people's Bank of China on implementing 〈 Opinions of the general office of the State Council on supporting the steady growth of foreign trade 〉 Guidance for 》（ Silver hair 〔2014〕168 Number ） Article 7 and other provisions are inconsistent with this notice , Subject to this notice .

People's Bank of China

2022 year 6 month 16 Japan

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