China's State Administration of Exchange Control Regulations to prevent new funds focused on flight

Following the early July-to-business trade in goods under the foreign debt registration management, the State Administration of Foreign Exchange ( "Exchange") with effect from this month on the 15th of its external debt management has implemented the registration.
Foreign Exchange Bureau recently issued a notice-to-business trade in goods under the foreign debt registration management issues specific to deploy. Notice that the implementation of this system is "the establishment of a sound external debt statistics to monitor the management system, standardize trade cross-border capital flows and promote balance of international payments."
It is understood that the business trade in goods under the foreign debt, including import and export of the advance payment deferred receivables. Refers to the advance payment of imports of goods and payment date of the contract as early as the import contract or the actual payment date earlier than the date of actual payment of import customs declaration date. Extension refers to the collection of export goods contract later than the date of receipt of export contract or the actual date of receipt date later than the date of the actual exports more than 90 days (not including) the receipt.
In accordance with the notice requirements of the advance payment and extended enterprise receivables management will be implemented to register. Business via the Internet should log on-line services, State Administration of Foreign Exchange trading platform, the management of credit Registration System or to the location of the foreign exchange bureau, and advance payment for delayed collection Create remittance advices for the registration and cancellation procedures.
Foreign Economic and Trade University School of the financial Ding Zhijie, vice president of the view that option at this time point-to-business trade in goods under the foreign debt registration management, its main purpose may be in the context of the financial crisis on capital flows to implement more rigorous monitoring, Increase of speculative capital crackdown to prevent the concentration of capital flight, so as not to cause too much of China's economic impact.
According to the eight or nine months of foreign exchange reserves, China's new foreign trade surplus is less than even the Reserve and foreign direct investment and. Ding Zhijie believe that this description of China's foreign exchange inflows slow down the speed at even the beginning of outflow does not rule out the possibility.
At the same time, notice that the foreign exchange bureau on advance payment of business registration and cancellation of registration to carry out supervision and inspection. Bank in contravention of this notice requirement for advance payment for enterprises to purchase and payment procedures, in accordance with the "management of foreign exchange regulations," the relevant provisions of punishment. In addition, exports registered an extension of the management of foreign exchange since December 1, 2008 since the beginning of the implementation.
继7月初对企业货物贸易项下外债实行登记管理之后，国家外汇管理局（简称“外汇局”）将从本月15日起对其对外债权也实行登记管理。
外汇局近日下发通知，对企业货物贸易项下境外债权实行登记管理的有关问题进行了具体部署。通知称，实行此项制度主要是“建立健全境外债权统计监测管理体系，规范贸易项下资金跨境流动，促进国际收支平衡”。
据了解，企业货物贸易项下境外债权包括进口预付货款和出口延期收款。预付货款是指货物进口合同约定付汇日期早于合同约定进口日期或实际付汇日期早于实际进口报关日期的付汇。延期收款是指货物出口合同约定收汇日期晚于合同约定出口日期或实际收汇日期晚于实际出口报关日期90天以上（不含）的收汇。
按照通知要求，企业预付货款和延期收款将实行登记管理。企业应通过互联网登录国家外汇管理局网上服务平台上的贸易信贷登记管理系统或前往所在地外汇局，办理预付货款和延期收款的逐笔登记和注销手续。
对外经贸大学金融学院副院长丁志杰认为，选择在此时点对企业货物贸易项下对外债权实行登记管理，其最主要目的可能是在金融危机的背景下对资本的流动实施更加严密的监测，加大对投机性资本的打击力度，防止资金集中外逃，避免对我国经济造成过大冲击。
根据8、9月份的外汇储备数据，我国新增外储甚至小于外贸顺差和外商直接投资之和。丁志杰认为，这说明外汇流入我国的速度在放慢，甚至不排除开始流出的可能性。
通知同时称，外汇局对企业预付货款的登记和注销登记情况进行监督检查。银行违反本通知规定为企业办理预付货款购付汇手续的，按照《外汇管理条例》相关规定处罚。此外，出口延期收汇的登记管理自2008年12月1日起开始施行。