Operation Guidelines for the State Administration of Foreign Exchange’s Digital Foreign Exchange Platform and Enterprise Classification Management Specifications

Enterprises can log in to the State Administration of Foreign Exchange’s digital foreign exchange management platform (ASOne) and access the foreign exchange monitoring system for trade in goods (enterprise version) to handle trade credit reporting and other services online. For specific operation methods, please refer to the “Digital External Management Platform User Manual” in the “Common Downloads” column of the Digital External Management Platform.

From the day after the company opens online business, it can carry out client environment settings, user management, permission configuration, etc. For detailed steps, see the “Foreign Exchange Application System Access Settings Manual” in the “Common Downloads” column.

On the digital external management platform, user ba (business administrator) is responsible for tasks such as adding/deleting business operators for the enterprise, setting business operator permissions, and resetting business operator passwords. The organization code that an enterprise needs to enter when logging into the platform is its organization code, which can be obtained by intercepting the 9th to 17th digits of the unified social credit code.

Business operators are authorized and established by user ba. They can select the goods trade foreign exchange detection system to handle online business according to the permissions assigned by user ba.

Enterprises should strengthen their study of foreign exchange management regulations for trade in goods. The specific content can be found in the relevant documents in the “Policies and Regulations – Current Account Foreign Exchange Management” column on the portal website of the State Administration of Foreign Exchange.

Enterprise directory cancellation conditions

When an enterprise encounters the following circumstances, it must go through the online processing system of the State Administration of Foreign Exchange’s government services or go to the State Administration of Foreign Exchange to go through the registration deregistration procedures:

• Cease operations or no longer engage in foreign trade;
• The business license has been canceled or revoked by the industrial and commercial administration department;
• The right to operate foreign trade was revoked by the competent commerce department.

In addition, if any of the following circumstances occurs to an enterprise on the list, the Foreign Exchange Administration may cancel it from the list:

• The above provisions exist;
• No trade foreign exchange receipts and payments have occurred for two consecutive years;
• When the foreign exchange bureau conducts on-site inspections of enterprises, they cannot be contacted through the contact information listed in the enterprise directory registration information.

Report content

Enterprises that meet one of the following circumstances shall, within 30 days from the date when the import and export of goods or foreign exchange collection and payment actually occur, submit the corresponding estimated foreign exchange receipts and payments or imports to the local foreign exchange bureau through the foreign exchange bureau monitoring system for trade in goods. Export date and other information:

• Advance receipts and prepayments of more than 30 days (not included) for Class A enterprises;
• Delayed collection and deferred payment for Category A enterprises for more than 90 days (exclusive);
• Forward LC (including extension), overseas payment and other import trade financing for Category A enterprises of more than 90 days (exclusive);
• Advance receipts and prepayments for Class B and C enterprises during the validity period of classified supervision, as well as deferred receipts and deferred payments of more than 30 days (exclusive);
• The interval between the dates of re-export trade receipts and payments under the same contract for a Category A enterprise exceeds 90 days (exclusive) and the amount of foreign exchange received under the item of “receive first and paid later” or the amount of foreign exchange paid under the item of “pay first and then received” exceeds the equivalent of US$500,000 ( excluding) business.

Other matters

An enterprise’s trade foreign exchange receipts and payments should have a real and legal transaction basis and be consistent with the import and export of goods. In principle, enterprises should handle trade foreign exchange receipts and payments in accordance with the principle of “whoever exports receives foreign exchange and who imports pays foreign exchange.”

The foreign exchange bureau classifies enterprises into three categories: A, B, and C based on their compliance with foreign exchange management regulations and implements classified management. Facilitated management measures will be applied to the trade and foreign exchange receipts and payments of Category A enterprises, while prudent supervision will be implemented for Category B and C enterprises.

The foreign exchange bureau conducts off-site monitoring of corporate trade foreign exchange receipts and payments, and will carry out on-site verification and inspection when necessary. For enterprises that violate foreign exchange management regulations for trade in goods, the foreign exchange bureau may take measures such as downgrading, imposing penalties, including on negative information lists, and notifying customs, taxation, commerce and other relevant departments for joint punishment.