Interim Measures for the Management of the Service Prices of
Commercial Banks

[2003] No.3 of China Banking Regulatory Commission

Article 1 In order to standardize commercial banks'' behaviors in
service pricing, safeguard consumers'' legal rights and interests,
and to promote the healthy development of commercial banks, the
Measures are formulated according to the "Commercial Bank Law of the
People's Republic of China" and the "Price Law of the People's
Republic of China".

Article 2 The Measures apply to all service pricing behaviors of
commercial banks occurred in the territory of the People's Republic
of China.

Article 3 The commercial banks herein refer to bank institutions set
up in accordance with the "Commercial Bank Law of the People''s
Republic of China " and the "Regulation on the Management of
Foreign-Invested Financial Institutions of the People''s Republic of
China".
Article 4 The commercial banking services herein refer to various
toll banking services in home currency and foreign currencies that
are provided to customers by commercial banks.
Article 5 When formulating service prices and providing banking
services, commercial banks shall comply with the provisions of
relevant state price laws, rules and regulations of the State,
observe reasonable and open principles and principles of good faith
and consistence of price and quality, focus on their customers,
increase service varieties and improve service quality, thus
enhancing their service levels and forbidding use of service prices
for unfair competition.
Article 6 According to the nature and characteristics of services
and the competition situation in the market, commercial bank
services should adopt prices instructed by the government and
adjusted by the market respectively.
Article 7 The following commercial bank services adopt prices
instructed by the government:
(1) Basic settlement businesses in RMB, including bank drafts, bank
acceptances, promissory notes, checks, currency exchanges,
authorized collection and acceptance and payment by collection.
(2) Commercial bank service items determined by China Banking
Regulatory Commission and State Development and Reforming Commission
based on the extent of the influence of individuals and enterprises
and institutions and the competition situation of the market.
Other services provided by commercial banks, exclusive of the
above-mentioned items, should adopt prices adjusted by the market.
Article 8 The service prices under instruction of the government
shall be formulated in the principle of cost maintenance with slight
profits and the specific service items, their benchmark prices and
floating range shall be formulated and adjusted by the State
Development and Reforms Commission jointly with China Banking
Regulatory Commission.
Article 9 The service prices under market adjustment shall be
formulated and adjusted by the head offices of commercial banks and
branches of foreign banks (or master reporting banks, if any), and
any other branches and sub-branches of commercial banks should not
formulate or adjust the prices concerned at their own discretion.
When formulating the prices, the commercial banks shall take full
consideration of the affordability of individuals and enterprises
and institutions.
Article 10 In handling with collection and payment services, the
commercial banks shall abide by the principles of "whoever
authorizes pays the charges," and shall not charge with other unit
or individual than the authorizer.
Article 11 The commercial banks shall not charge against opening of
savings account in Renminbi, revocation of such account, deposits of
savings in Renminbi occurred within the same bank corporation of the
same city and withdrawal below big sum, except for withdrawal of big
sum and saving services of change arrangement.
The definitions of "changes'' and "big sum" and the formulation and
adjustment of the relevant service prices are in the charge of China
Banking Regulatory Commission.
Article 12 The commercial banks shall formulate the uniform pricing
management system concerning the service items under market
adjustment, thus clarifying the pricing scope, principles, methods
and the management responsibilities of the head offices and their
branches.
Article 13 The commercial banks shall publish their service items,
service content and service pricing standards at their business
points according to the relevant provisions on clear-cut marking of
prices by commodities and services.
Article 14 The commercial banks shall report to China Banking
Regulatory Commission at least 15 working days before implementation
of the service prices formulated by them according to the Measures
and shall make announcement at the relevant business points at least
ten days before execution.
While reporting the above-mentioned items to China Banking
Regulatory Commission as specified, the commercial banks shall make
copy to China Banking Association.
Article 15 The service items adopting market adjustment prices and
the services prices of the commercial banks shall be properly
published by China Banking Association under social supervision.
Article 16 In case of any of the following acts on the part of the
commercial banks, the government competent pricing authority shall
impose corresponding punishment according to the Pricing Law of the
PRC and the Regulation on Administrative Punishment Against Offenses
in Pricing:
(1) Formulating the service prices at discretion within the pricing
scope under direction of the government;
(2) Exceeding the floating range of the pricing under direction of
the government;
(3) Not marking the prices according to the provisions; and
(4) Other acts in violation of laws and regulations in breach of the
provisions of the Measures.
Article 17 In case the commercial banks have violated the provisions
of Articles 9, 12 and 14 of the Measures, China Banking Regulatory
Commission shall handle with the case according to the provisions of
the relevant laws, administrative laws and regulations and
stipulations.

Article 18 In case policy banks, urban credit cooperatives, rural
credit cooperatives, post saving institutions, joint venture
financial companies and wholly foreign-owned companies provide the
services specified by Article 4 of the Measures, the service prices
shall be executed in compliance with the provision of the Measures.

Article 19 The Measures shall come into force as of October 1, 2003.

Article 20 The previous provisions on the service prices or charge
of commercial banks in conflicts with the Measures shall be repealed.