Notice of the State Administration of Foreign Exchange on Relevant Issues
concerning the Administration on Commission Sale of Foreign Currency
Travelers Check

the State Administration of Foreign Exchange

HuiFa [2004] No.15  March 1st, 2004

The branches and departments of foreign exchange administration of
the State Administration of Foreign Exchange of all provinces,
autonomous regions, and municipalities directly under the Central
Government, the branches of Shenzhen, Dalian, Qingdao, Xiamen, and
Ningbo, and all the Chinese-funded designated foreign exchange
banks:
　　With a view to strengthening supervision over the flowing of
foreign currency, and regulating the administration on foreign
currency travelers check, and in accordance with the "Provisions on
the Management of Settlement, Sales and Payment of Foreign Exchange"
(HuiFa [1996] No.210), the Interim Measures for the Administration
on Carrying Foreign Currency Cash to Enter and Exit the Territory
(HuiFa [2003] No.102), and the relevant provisions, we hereby make
the following notice on the relevant issues concerning the
commission sale of foreign currency travelers check.

I. The term "foreign currency travelers check" as mentioned in this
Notice refers to the note, which is sold on commission basis by
domestic commercial banks (hereinafter referred to as the "banks"),
and printed by overseas banks or special financial institutions,
with the issuing institution as the final payer and with the
convertible currency as the price calculation and settlement
currency as well as with fixed denomination.

II. The objects to whom the foreign currency travelers check is
commissioned to sell, may be the domestic institutions, foreign
institutions within the territory of China, or domestic resident
individuals or non-resident individuals.
III. The term "non-resident individuals" as mentioned in this Notice
shall refer to foreign natural persons (including person without
nationality), Hong Kong, Macao, and Taiwan compatriots, and Chinese
natural persons who hold the passport of the People''s Republic of
China but have obtained the right of permanent residence overseas.
IV. The foreign currency travelers check sold by the banks on
commission basis is limited in principle to overseas traveling,
going on a pilgrimage to sacred places, visiting or meeting
relatives, overseas hospitalization, studying abroad and other
foreign payment under the non-trade item, and shall not be used for
foreign payment under trade item or capital item.
V. When handling the business of commission sale of foreign currency
travelers check, the banks shall make examination strictly in
accordance with the "Provisions on the Management of Settlement,
Sales and Payment of Foreign Exchange" and the "Detailed Rules for
the Implementation of the Administration on Purchase of Foreign
Exchange by Domestic Residents" (HuiFa [2002] No.68) and the Notice
on Relevant Issues concerning Regulation of Foreign Exchange
Management on Non-resident Individuals (HuiFa [2004] No. 6) and the
pertinent provisions, and handle purchasing formalities for those
meeting the requirements. No bank shall handle purchase formalities
for those not meeting the requirements.
VI. A domestic institution or a foreign institution within the
territory of China, applying for purchasing foreign currency
travelers check, shall buy it with the capital under the current
foreign exchange account, foreign exchange capital account, and in
other foreign exchange accounts specifying that the money may be
used for outlays under current account, or with the foreign exchange
purchased by using the capital of the Renminbi account. No foreign
currency travelers check shall be purchased by using foreign
currency cash or Renminbi cash.
VII. A domestic institution or a foreign institution within the
territory of China shall, when purchasing foreign currency travelers
check, submit the following certification documents:
1. Application for purchase;
2. Official documents of approval for task of going abroad or
passport with effective visa;
3. Budget form for fees for going abroad; and
4. Other certification documents.
　　The banks shall examine and verify the truthfulness of the
aforesaid certification documents, and handle formalities for
purchase of foreign currency travelers check for those meeting the
requirements.
VIII. The domestic resident individuals may purchase foreign
currency travelers check with the capital in their foreign exchange
deposit accounts or with foreign currency cash, or with the capital
in their Renminbi accounts or with the foreign exchange purchased by
using Renminbi cash.
IX. Non-resident individuals may purchase foreign currency travelers
check with the capital in their foreign exchange deposit accounts or
with foreign currency cash.
　　The legal Renminbi income of the non-resident individuals within
the territory of China may be used for purchasing foreign currency
travelers check after being converted into foreign exchange in
accordance with the pertinent provisions.
X. Where a resident individual or non-resident individual purchases
foreign currency travelers check with the capital in his foreign
exchange cash accounts, he shall handle it according to the
provisions as follows:
1. Where the foreign currency travelers check purchased at one time
is equivalent to 10 thousand dollars or less, he shall file an
application to the bank with the certification documents as follows:
(1) Application for purchase;
(2) Effective identification certificate of the person himself;
(3) Passport with effective entry visa of the country or region,
which has been properly handled, or the pass to Hong Kong and Macao
regions (including the pass for coming-and-going to Hong Kong and
Macao regions).
　　The banks shall examine and verify the truthfulness of the
aforesaid certification documents, and handle formalities for
purchasing foreign currency travelers check for those in conformity
with the provisions.
2. Where the foreign currency travelers check purchased at one time
is equivalent to over 10 thousand dollars up to 50 thousand dollars,
he shall file an application to the bank with the following
certification documents:
(1) Application for purchase;
(2) Effective identification certificate of the person himself;
(3) Passport with effective entry visa of the country or region,
which has been properly handled, or the pass to Hong Kong and Macao
regions (including the pass for coming-and-going to Hong Kong and
Macao regions); and
(4) Relevant documents, which can prove the truthfulness of the
purpose of the use of the foreign currency travelers check.
　　The banks shall examine and verify the truthfulness of the
aforesaid certification documents, and handle formalities for
purchasing foreign currency travelers check for those in conformity
with the provisions.
3. Where the foreign currency travelers check purchased at one time
is equivalent to over 50 thousand dollars, he shall, on the strength
of the certification documents as prescribed in paragraph 2 of the
present Article, file an application to the foreign exchange
administration at the place where it is located, who shall then
examine and verify the truthfulness thereof. And the banks shall
handle formalities for purchasing foreign currency travelers check
for him according to the approval documents issued by the local
foreign exchange administration.
XI. Where a domestic resident individual or non-resident individual
purchases foreign currency travelers check with the capital in their
foreign currency cash deposit accounts or with foreign currency
cash, he shall handle it according to the provisions as follows:
1. Where the foreign currency travelers check purchased at one time
is equivalent to 10 thousand dollars or less, he shall file an
application to the bank with the certification documents as follows:
(1) Application for purchase;
(2) Effective identification certificate of the person himself;
(3) Passport with effective entry visa of the country or region,
which has been properly handled, or the pass to Hong Kong and Macao
regions (including the pass for coming-and-going to Hong Kong and
Macao regions); and
(4) A domestic resident individual shall also provide the bank
withdrawal certificate and other certification documents that can
prove his legal foreign exchange resources. A non-resident
individual shall also provide the customs declaration form for the
amount of foreign currency cash declared by him when he enters
China, and other certification documents that can prove his legal
foreign exchange resources.
　　The banks shall examine and verify the truthfulness of the
aforesaid certification documents, and handle formalities for
purchasing foreign currency travelers check for those in conformity
with the provisions.
2. Where the foreign currency travelers check purchased at one time
is equivalent to over 10 thousand dollars up to 20 thousand dollars,
he shall file an application to the bank with the certification
documents as follows:
(1) Application for purchase;
(2) Effective identification certificate of the person himself;
(3) Passport with effective entry visa to the country or region,
which has been properly handled, or the pass to Hong Kong and Macao
regions (including the pass for coming-and-going to Hong Kong and
Macao regions); and
(4) A domestic resident individual shall also provide the bank
withdrawal certificate and other certification documents that can
prove his legal foreign exchange resources. A non-resident
individual shall also provide the customs declaration form for the
amount of foreign currency cash declared by him when he enters
China, and other certification documents that can prove his legal
foreign exchange resources; and
(5) Relevant documents that can prove the truthfulness of its
purpose.
　　The banks shall examine and verify the truthfulness of the
aforesaid certification documents, and handle formalities for
purchasing foreign currency travelers check for those in conformity
with the provisions.
3. Where the foreign currency travelers check purchased at one time
is equivalent to over 20 thousand dollars, he shall, on the strength
of the certification documents as prescribed in paragraph 2 of the
present Article, file an application to the foreign exchange
administration at the place where it is located, who shall then
examine and verify the truthfulness thereof. And the banks shall
handle formalities for purchasing foreign currency travelers check
for him according to the approval documents issued by the local
foreign exchange administration.
XII. Where a domestic resident individual purchases foreign currency
travelers check with the foreign exchange purchased in Renminbi, the
bank shall handle the formalities for purchase of foreign exchange
with Renminbi in accordance with the pertinent provisions of the
"Detailed Rules for the Implementation of the Administration on
Purchase of Foreign Exchange by Domestic Resident Individuals". The
domestic resident individuals may decide by themselves the amount of
foreign currency travelers check they will purchase within the quota
of the approved foreign exchange purchase.
XIII. When purchasing foreign currency travelers check, in case the
purchaser can not obtain the effective visa beforehand because of
special circumstances, he shall file an application to the banks or
foreign exchange administrations respectively according to the
limits as follows:
1. Where the equivalence is 10 thousand dollars or below, the
purchaser shall file an application to the bank with the pertinent
certification documents, and the bank shall handle the formalities
for him by referring to the aforesaid provisions after making
examination on the truthfulness thereof; and
2. Where the equivalence is over 10 thousand dollars, the purchaser
shall file an application to the local foreign exchange
administration with the pertinent certification documents. After the
local foreign exchange administration has made examination on it,
the bank shall handle formalities for the purchase of foreign
currency travelers check upon the strength of the approval documents
issued by the local foreign exchange administration.
XIV. When handling formalities for purchasing foreign currency
travelers check, the banks shall handle formalities for declaration
of the statistics on balance of international payment as prescribed.
XV. Where a purchaser purchases foreign currency travelers check at
one time by using the capital in his foreign currency cash account
or using foreign currency cash, and the amount of the foreign
currency travelers check exceeds the equivalence of 10 thousand
dollars, the bank shall have them itemized, and handle formalities
for report on large and doubtful payment transaction in accordance
with the "Provisions on Anti-money- laundering through Financial
Institutions" (HuiFa [2003] No.1) and the "Measures for the
Administration of Reporting Large and Doubtful Payment
Transactions"(HuiFa [2003] No. 3) and the relevant provisions.

XVI. The banks shall make statistics separately on the number and
amount of the business of commission sale for foreign currency
travelers check and the business of foreign currency exchange, and
have them kept for future reference.

XVII. This Notice shall enter into force as of April 1st, 2004.
　　All the branches shall, after receiving this Notice, transmit it
to their subordinated sub-branches, foreign-funded banks and
relevant entities as soon as possible. And all the Chinese-funded
designated foreign exchange banks shall transmit it to the branches
or sub-branches subject to them as soon as possible. In case any
problem arises in the implementation, please feedback it to the
State Administration of Foreign Exchange in good time.