GAZETTEOF PEOPLE′S BANK OF CHINA
28 December 2006 No.22 (total No.234)
catalogue
Order No.1 [2006] of the People’s Bank of China
Order No.2 [2006] of the People’s Bank of China
Notice of the People’s Bank of China on strengthening the promotion of micropayment system business
Guiding Opinions of the People’s Bank of China on Promoting the Business Development of Commercial Acceptance Bills.
Order of China People’s Bank
2006] No.1
According to the Anti-Money Laundering Law of People’s Republic of China (PRC), the Law of the People’s Republic of China on the People’s Bank of China and other laws, the People’s Bank of China has formulated the Anti-Money Laundering Regulations for Financial Institutions, which were adopted at the 25th executive meeting of the President on November 6, 2006, and are hereby promulgated and shall come into force as of January 1, 2007.
President: Zhou Xiaochuan
November 14th, 2006
provisions on anti money laundering of financial institutions
Article 1 These Provisions are formulated in accordance with the Anti-Money Laundering Law of People’s Republic of China (PRC), the Law of the People’s Republic of China on the People’s Bank of China and other relevant laws and administrative regulations in order to prevent money laundering activities, standardize the supervision and management of anti-money laundering and the anti-money laundering work of financial institutions, and maintain financial order.
Article 2 These Provisions shall apply to the following financial institutions legally established within the territory of People’s Republic of China (PRC):
(1) Commercial banks, urban credit cooperatives, rural credit cooperatives, postal savings and remittance institutions and policy banks;
(2) Securities companies, futures brokerage companies and fund management companies;
(3) Insurance companies and insurance asset management companies;
(4) Trust and investment companies, financial asset management companies, finance companies, financial leasing companies, auto financing companies and money brokerage companies;
(5) Other financial institutions determined and announced by the People’s Bank of China.
Institutions engaged in remittance business, payment and settlement business and fund sales business shall apply the provisions of these Provisions on the supervision and administration of anti-money laundering of financial institutions.
Article 3 The People’s Bank of China is the administrative department in charge of anti-money laundering in the State Council, and supervises and manages the anti-money laundering work of financial institutions according to law. China Banking Regulatory Commission, China Securities Regulatory Commission and China Insurance Regulatory Commission perform their duties of anti-money laundering supervision and management within their respective scope of duties.
The People’s Bank of China shall cooperate with relevant departments, institutions and judicial organs of the State Council in the process of performing its anti-money laundering duties.
Article 4 The People’s Bank of China conducts international cooperation on anti-money laundering on behalf of the China Municipal Government under the authorization of the State Council. The People’s Bank of China may establish cooperation mechanisms with anti-money laundering institutions in other countries or regions to implement cross-border anti-money laundering supervision and management.
Article 5 The People’s Bank of China shall perform the following anti-money laundering supervision and management duties according to law:
(1) To formulate or work with China Banking Regulatory Commission, China Securities Regulatory Commission and China Insurance Regulatory Commission to formulate anti-money laundering regulations for financial institutions;
(2) To be responsible for monitoring the anti-money laundering funds of RMB and foreign currency;
(3) To supervise and inspect the performance of anti-money laundering obligations by financial institutions;
(four) to investigate suspicious trading activities within the scope of duties;
(5) reporting to the investigation organ the trading activities suspected of money laundering;
(six) in accordance with the provisions of relevant laws and administrative regulations, exchange information and materials related to anti-money laundering with overseas anti-money laundering institutions;
(seven) other relevant duties stipulated by the State Council.
Article 6 The People’s Bank of China shall set up China Anti-Money Laundering Monitoring and Analysis Center to perform the following duties according to law:
(1) Receiving and analyzing reports on large transactions and suspicious transactions of RMB and foreign currency;
(2) Establishing a national anti-money laundering database, and properly keeping the information of large-value transactions and suspicious transaction reports submitted by financial institutions;
(3) Report the analysis results to the People’s Bank of China as required;
(4) Requiring financial institutions to make timely corrections to reports on large transactions and suspicious transactions of RMB and foreign currency;
(5) With the approval of the People’s Bank of China, exchange information and materials with relevant overseas institutions;
(6) Other duties as stipulated by the People’s Bank of China.
Article 7 The People’s Bank of China and its staff shall keep confidential the information obtained by performing their anti-money laundering duties according to law, and shall not provide it to the outside world in violation of regulations.
China Anti-Money Laundering Monitoring and Analysis Center and its staff shall keep confidential the customer identity data, large-value transactions and suspicious transaction information obtained by performing anti-money laundering duties according to law; It shall not be provided to any unit or individual except in accordance with the law.
Article 8 Financial institutions and their branches shall establish and improve anti-money laundering internal control system according to law, set up special anti-money laundering institutions or designate internal institutions to be responsible for anti-money laundering work, formulate internal anti-money laundering operating rules and control measures, conduct anti-money laundering training for their staff, and enhance their anti-money laundering work ability.
The responsible persons of financial institutions and their branches shall be responsible for the effective implementation of the internal control system against money laundering.
Article 9 A financial institution shall establish and implement a customer identification system in accordance with regulations.
(a) to identify the identity of customers who require to establish business relations or handle one-time financial business with a specified amount or more, and to require customers to show their true and valid identity documents or other identification documents, check and register them, and update their identity information in time when it changes;
(2) Understand the purpose and nature of the customer’s transaction in accordance with regulations, and effectively identify the beneficiary of the transaction;
(3) If abnormal signs are found in the course of handling business or the authenticity, validity and completeness of the previously obtained customer identity data are in doubt, the customer identity shall be re-identified;
(four) to ensure that the overseas financial institutions with which it has an agency relationship or similar business relationship can effectively identify customers, and can obtain the required customer identity information from the overseas financial institutions. The specific implementation measures specified in the preceding paragraph shall be formulated by the People’s Bank of China jointly with China Banking Regulatory Commission, China Securities Regulatory Commission and China Insurance Regulatory Commission.
Article 10 A financial institution shall, within the prescribed time limit, properly keep customer identity information and data information, business vouchers, account books and other relevant information that can reflect each transaction. The specific implementation measures specified in the preceding paragraph shall be formulated by the People’s Bank of China jointly with China Banking Regulatory Commission, China Securities Regulatory Commission and China Insurance Regulatory Commission.
Article 11 Financial institutions shall report large transactions and suspicious transactions of RMB and foreign currency to China Anti-Money Laundering Monitoring and Analysis Center in accordance with regulations. The specific implementation measures specified in the preceding paragraph shall be formulated separately by the People’s Bank of China.
Article 12 The People’s Bank of China, together with China Banking Regulatory Commission, China Securities Regulatory Commission and China Insurance Regulatory Commission, shall guide self-regulatory organizations in the financial industry to formulate anti-money laundering guidelines for their own industries.
Thirteenth financial institutions in the process of fulfilling their anti-money laundering obligations, if they find a suspected crime, they shall promptly report it in writing to the local branch of the People’s Bank of China and the local public security organ.
Fourteenth financial institutions and their staff shall assist and cooperate with judicial organs and administrative law enforcement organs to combat money laundering activities according to law. Overseas branches of financial institutions shall abide by the laws and regulations on anti-money laundering in the host country or region and assist in the work of anti-money laundering institutions in the host country or region.
Fifteenth financial institutions and their staff shall keep confidential the customer identity information and transaction information obtained by performing anti-money laundering obligations according to law; It shall not be provided to any unit or individual except in accordance with the law.
Financial institutions and their staff shall keep confidential the information related to anti-money laundering, such as reporting suspicious transactions and cooperating with the People’s Bank of China in investigating suspicious transactions, and shall not provide it to customers and other personnel in violation of regulations.
Sixteenth financial institutions and their staff to submit large transactions and suspicious transaction reports according to law, protected by law.
Seventeenth financial institutions shall, in accordance with the provisions of the people’s Bank of China, submit anti-money laundering statistics, information and audit reports related to anti-money laundering work.
Article 18 The People’s Bank of China and its branches may take the following measures to conduct on-site inspection of anti-money laundering according to the needs of performing anti-money laundering duties:
(1) Entering financial institutions for inspection;
(two) ask the staff of financial institutions to explain the relevant inspection items;
(three) to consult and copy the documents and materials related to the inspection items of financial institutions, and to seal up the documents and materials that may be transferred, destroyed, hidden or tampered with;
(four) to check the system of financial institutions using electronic computers to manage business data.
China People’s Bank or its branches shall fill in the on-site inspection project approval form before carrying out the on-site inspection, listing the inspection object, inspection content, time arrangement and other contents, and implement it after being approved by the person in charge of China People’s Bank or its branches.
On-site inspection, the number of inspectors shall not be less than 2, and the law enforcement certificate and inspection notice shall be presented; If the number of inspectors is less than 2 or the law enforcement certificate and inspection notice are not produced, the financial institution has the right to refuse the inspection.
After the on-site inspection, the People’s Bank of China or its branch shall make an on-site inspection opinion, affix its official seal and deliver it to the inspected institution. On-site inspection opinions include inspection situation, inspection evaluation, improvement opinions and measures.
Article 19 The People’s Bank of China and its branches may, according to the needs of performing anti-money laundering duties, talk with the directors and senior managers of financial institutions and ask them to explain the major issues of financial institutions’ anti-money laundering obligations.
Article 20 The People’s Bank of China shall conduct on-site inspections of financial institutions and, if necessary, notify the China Banking Regulatory Commission, the China Securities Regulatory Commission or the China Insurance Regulatory Commission of the inspection.
Article 21 If the People’s Bank of China or its provincial branches find that suspicious trading activities need to be investigated and verified, they can investigate customer account information, trading records and other relevant materials involved in suspicious trading activities from financial institutions, and financial institutions and their staff members shall cooperate with them.
The People’s Bank of China or its provincial branches mentioned in the preceding paragraph include the head office, Shanghai headquarters, branches, business management departments, provincial capital city center branches and sub-provincial city center branches of the People’s Bank of China.
Twenty-second people’s Bank of China or its provincial branches to investigate suspicious transactions, you can ask the staff of financial institutions, ask them to explain the situation; Consult and copy the account information, transaction records and other relevant materials of the customers of the financial institutions under investigation; Documents and materials that may be transferred, hidden, tampered with or damaged may be sealed up.
When investigating suspicious trading activities, the number of investigators shall not be less than 2, and the law enforcement certificate and the notice of investigation issued by the People’s Bank of China or its provincial branches shall be presented. To consult, copy and seal up the account information, transaction records and other relevant materials of the financial institution customers under investigation shall be approved by the person in charge of the People’s Bank of China or its provincial branches. If the investigator violates the prescribed procedures, the financial institution has the right to refuse the investigation.
Inquiries shall be recorded. The record of inquiry shall be checked by the person being questioned. If there are omissions or errors in the records, the person questioned may ask for supplements or corrections. After the person questioned confirms that the transcript is correct, he shall sign or seal it; Investigators should also sign the record.
Investigators should check the documents and materials sealed together with the staff of the financial institution present, and make a list in duplicate on the spot, which shall be signed or sealed by the investigators and the staff of the financial institution present, one for the financial institution and one for future reference.
Article 23 If the suspicion of money laundering cannot be ruled out after investigation, it shall immediately report the case to the investigation organ with jurisdiction. Financial institutions shall immediately report to the local branches of the People’s Bank of China if customers request to transfer the account funds involved in the investigation abroad. With the approval of the person in charge of the People’s Bank of China, the People’s Bank of China may take temporary freezing measures and notify the financial institutions in writing, and the financial institutions shall implement them immediately after receiving the notice.
If the investigation organ considers it necessary to continue freezing after receiving the report, the financial institution shall cooperate after receiving the notice of the investigation organ to continue freezing. If the investigation organ considers it unnecessary to continue freezing, the People’s Bank of China shall immediately notify the financial institution in writing to lift the temporary freezing after receiving the notice that the investigation organ does not need to continue freezing.
Temporary freezing shall not exceed 48 hours. If a financial institution fails to receive the notice of the investigation organ to continue freezing within 48 hours after taking temporary freezing measures according to the requirements of the People’s Bank of China, it shall immediately lift the temporary freezing.
Twenty-fourth people’s Bank of China and its branches engaged in anti-money laundering work personnel have one of the following acts, shall be given administrative sanctions according to law:
(a) in violation of the provisions of the inspection, investigation or take temporary freezing measures;
(2) divulging state secrets, business secrets or personal privacy known for anti-money laundering;
(three) in violation of the provisions of the relevant institutions and personnel to implement administrative punishment;
(four) other acts that do not perform their duties according to law.
Article 25 If a financial institution violates these provisions, it shall be punished by the People’s Bank of China or its branches at or above the central branch of the city in accordance with the provisions of Articles 31 and 32 of the Anti-Money Laundering Law of People’s Republic of China (PRC); According to different situations, it is suggested that China Banking Regulatory Commission, China Securities Regulatory Commission or China Insurance Regulatory Commission take the following measures:
(1) Ordering financial institutions to suspend business for rectification or revoke their business licenses;
(two) to cancel the qualifications of directors, senior managers and other directly responsible personnel of financial institutions, and prohibit them from engaging in relevant financial industry work;
(3) Ordering financial institutions to give disciplinary sanctions to the directors, senior managers and other directly responsible personnel.
County (city) sub-branch of China People’s Bank finds that financial institutions violate these provisions, and shall report to its superior branch, which shall punish or make suggestions in accordance with the provisions of the preceding paragraph.
Article 26 Where the People’s Bank of China and its branches at or above the central sub-branches of cities impose administrative penalties on financial institutions that violate these provisions, they shall abide by the relevant provisions of the Provisions of the People’s Bank of China on Administrative Punishment Procedures.
Twenty-seventh the provisions shall come into force as of January 1, 2007. On January 3, 2003, the Regulations on Anti-Money Laundering of Financial Institutions issued by the People’s Bank of China was abolished at the same time.
Order of China People’s Bank
2006] No.2
According to the Anti-Money Laundering Law of People’s Republic of China (PRC), the Law of the People’s Republic of China on the People’s Bank of China and other laws and regulations, the People’s Bank of China formulated the Measures for the Administration of Large-value Transactions and Suspicious Transactions Reports of Financial Institutions, which was adopted at the 25th Executive Meeting of the President on November 6, 2006, and is hereby promulgated and shall come into force as of March 1, 2007.
President: Zhou Xiaochuan
November 14th, 2006
Measures for the administration of large-value transactions and suspicious transaction reports of financial institutions
Article 1 These Measures are formulated in accordance with the Anti-Money Laundering Law of People’s Republic of China (PRC), the People’s Bank of China Law of the People’s Republic of China and other relevant laws and administrative regulations in order to prevent the use of financial institutions for money laundering activities and standardize the reporting of large-value transactions and suspicious transactions by financial institutions.
Article 2 These Measures shall apply to the following financial institutions legally established within the territory of People’s Republic of China (PRC):
(1) Commercial banks, urban credit cooperatives, rural credit cooperatives, postal savings and remittance institutions and policy banks.
(2) Securities companies, futures brokerage companies and fund management companies.
(3) Insurance companies and insurance asset management companies.
(4) Trust and investment companies, financial asset management companies, finance companies, financial leasing companies, auto financing companies and money brokerage companies.
(5) Other financial institutions determined and announced by the People’s Bank of China.
These Measures shall apply to the reporting of large transactions and suspicious transactions by institutions engaged in exchange business, payment and clearing business and fund sales business.
Article 3 The People’s Bank of China and its branches shall supervise and inspect financial institutions’ performance of reports on large-value transactions and suspicious transactions.
Article 4 The People’s Bank of China shall set up the China Anti-Money Laundering Monitoring and Analysis Center, which shall be responsible for receiving reports on large transactions and suspicious transactions of RMB and foreign currency.
China Anti-Money Laundering Monitoring and Analysis Center finds that the large transaction report or suspicious transaction report submitted by a financial institution contains incomplete elements or errors, and can issue a notice of correction to the financial institution that submitted the report, and the financial institution shall make corrections within 5 working days after receiving the notice of correction.
Article 5 A financial institution shall set up a special anti-money laundering post, and clearly designate a person to be responsible for reporting large-value transactions and suspicious transactions.
Financial institutions shall, in accordance with these Measures, formulate internal management systems and operating procedures for reporting large-value transactions and suspicious transactions, and report to the People’s Bank of China for filing.
Financial institutions shall supervise and manage the implementation of the reporting system for large-value transactions and suspicious transactions of their subordinate branches.
Article 6 Financial institutions and their staff shall keep confidential the reports of suspicious transactions and shall not provide them to any unit or individual in violation of regulations.
Article 7 A financial institution shall, within five working days after the occurrence of a large-value transaction, submit a large-value transaction report to China Anti-Money Laundering Monitoring and Analysis Center in an electronic way through its headquarters or an institution designated by the headquarters. If there is no headquarters or it is impossible to submit large transactions to China Anti-Money Laundering Monitoring and Analysis Center through the headquarters and the institutions designated by the headquarters, the reporting method shall be separately determined by the People’s Bank of China.
Large-value transactions of customers through accounts or bank cards opened in domestic financial institutions shall be reported by the financial institution that opened the account or the issuing bank; Large-value transactions of customers through overseas bank cards shall be reported by the acquiring bank; Large-value transactions that customers do not make through their accounts or bank cards shall be reported by financial institutions that handle business.
Article 8 A financial institution shall report suspicious transactions to its headquarters, and the headquarters of the financial institution or an institution designated by the headquarters shall submit them electronically to China Anti-Money Laundering Monitoring and Analysis Center within 10 working days after the suspicious transactions occur. If there is no headquarters or it is impossible to submit suspicious transactions to China Anti-Money Laundering Monitoring and Analysis Center through the headquarters and the institutions designated by the headquarters, the reporting method shall be separately determined by the People’s Bank of China.
Article 9 Financial institutions shall report the following large-value transactions to China Anti-Money Laundering Monitoring and Analysis Center:
(1) Cash deposit, cash withdrawal, cash settlement and sale, cash exchange, cash remittance, cash bill payment and other forms of cash receipts and payments for a single or accumulated RMB transaction of more than 200,000 yuan or foreign currency transactions with the equivalent value of more than US$ 10,000.
(2) The transfer of funds between the bank accounts of legal persons, other organizations and individual industrial and commercial households, or the accumulated amount of RMB 2 million or more on the same day or the foreign currency equivalent of more than US$ 200,000.
(3) Transfer of funds between bank accounts of natural persons, and between bank accounts of natural persons and legal persons, other organizations and individual industrial and commercial households, with a single sum or a cumulative sum of more than RMB 500,000 yuan or a foreign currency equivalent of more than USD 100,000.
(4) Cross-border transactions in which one party to the transaction is a natural person, single transaction or accumulated equivalent value of more than USD 10,000 on the same day.
The cumulative transaction amount shall be calculated and reported unilaterally with a single customer as the unit and according to the income or payment of funds, unless otherwise stipulated by the People’s Bank of China.
Where a customer conducts financial transactions with securities companies, futures brokerage companies, fund management companies, insurance companies, insurance asset management companies, trust and investment companies, financial asset management companies, finance companies, financial leasing companies, auto finance companies, money brokerage companies, etc., and transfers money through bank accounts, commercial banks, urban credit cooperatives, rural credit cooperatives, postal savings and remittance institutions, and policy banks shall, in accordance with Items (2) and (3) of Paragraph 1.
The People’s Bank of China may adjust the standards for large-value transactions stipulated in the first paragraph according to needs.
Article 10 A financial institution may not report a large transaction that meets one of the following conditions if it is not found suspicious:
(1) After the time deposit expires, it is not directly withdrawn or transferred, but the principal or the principal plus all or part of the interest is continuously deposited in another account under the same account name opened in the same financial institution.
The principal or principal plus all or part of interest of demand deposit is converted into time deposit in another account under the same account name opened by the same financial institution.
The principal or principal plus all or part of interest of time deposit is transferred to another account opened in the same financial institution under the same account name.
Current deposit in the account.
(2) Conversion between different foreign currencies in the process of foreign exchange trading by natural persons.
(3) One party to the transaction is party organs, state power organs, administrative organs, judicial organs, military organs, organs of the Chinese People’s Political Consultative Conference, the People’s Liberation Army and the Armed Police Force at all levels, but it does not include all kinds of enterprises and institutions under it.
(4) Inter-bank lending by financial institutions and bond transactions in the inter-bank bond market.
(5) Gold transactions conducted by financial institutions in gold exchanges.
(6) Allocating funds within financial institutions.
(seven) transactions under the loan-to-loan business of international financial organizations and foreign governments.
(8) Debt swap transactions under loans from international financial organizations and foreign governments.
(9) Taxation, correction of wrong accounts and interest payment initiated by commercial banks, urban credit cooperatives, rural credit cooperatives, postal savings and remittance institutions and policy banks.
(10) Other circumstances as determined by the People’s Bank of China.
Article 11 Commercial banks, urban credit cooperatives, rural credit cooperatives, postal savings and remittance institutions, policy banks and trust and investment companies shall report the following transactions or behaviors as suspicious transactions:
(1) In a short period of time, funds are transferred in and out in a centralized way, or transferred in and out in a centralized way, which is obviously inconsistent with customers’ identity, financial status and business operations.
(two) in a short period of time, the same payee frequently receives and pays funds, and the transaction amount is close to the large transaction standard.
(3) Legal persons, other organizations and individual industrial and commercial households frequently receive remittances that are obviously unrelated to their business operations in the short term, or natural person customers frequently receive remittances from legal persons and other organizations in the short term.
(4) An account that has been idle for a long time is suddenly opened for unknown reasons, or an account that usually has a small capital flow suddenly has an abnormal capital inflow, and a large amount of funds are received and paid in a short period of time.
(5) Capital transactions with customers from drug trafficking, smuggling, terrorist activities, gambling areas or tax-avoidance offshore financial centers have increased significantly in a short period of time, or a large number of funds have been received and paid frequently.
(six) there is no normal reason to open an account or cancel an account, and a large amount of funds have been received and paid before the account is cancelled.
(7) Repaying the loan in advance is obviously inconsistent with its financial situation.
(8) Most of the RMB funds purchased by customers for overseas investment are cash or transferred from different bank accounts.
(9) The customer requests the swap business between local currency and foreign currency, and the source and use of the funds are suspicious.
(10) Customers often deposit traveler’s checks or foreign currency drafts opened abroad, which is inconsistent with their business conditions.
(11) Foreign-invested enterprises invest in foreign currency in cash or transfer funds abroad in a short time after receiving the investment funds, which is inconsistent with their production and operation payment needs.
(12) The amount of capital invested by the foreign party of a foreign-invested enterprise exceeds the approved amount, or the direct foreign debt borrowed by the foreign party is remitted from a third country with no affiliated enterprise.
(13) A securities institution instructs a bank to set aside funds unrelated to securities trading and liquidation, which is inconsistent with its actual operation.
(14) Securities institutions frequently borrow large amounts of foreign exchange funds through banks.
(fifteen) insurance institutions frequently pay a large number of payments to the same applicant through the bank or cancel the insurance.
(16) A natural person’s bank account frequently receives and pays cash and the situation is suspicious, or a large amount of cash is deposited and withdrawn at one time and the situation is suspicious.
(17) After receiving foreign exchange remitted from abroad frequently, resident natural persons ask banks to issue traveler’s checks and drafts, or non-resident natural persons frequently deposit foreign currency cash and ask banks to issue traveler’s checks and drafts, and take them out or frequently order and cash a large number of traveler’s checks and drafts.
(eighteen) a number of domestic residents accept a remittance from offshore account, and the transfer and settlement of funds are operated by one or a few people.
Article 12 Securities companies, futures brokerage companies and fund management companies shall report the following transactions or behaviors as suspicious transactions:
(1) The customer’s fund account frequently shows cash receipts and payments close to the standard of large cash transactions for unknown reasons, which obviously evades the monitoring of large cash transactions.
(2) A customer who has no transaction or a small transaction volume requests to transfer a large amount of funds to another person’s account, and there is no obvious transaction purpose or use.
(3) The client’s securities account has been idle for a long time, but the fund account frequently receives and pays large amounts of funds.
(4) accounts that have been idle for a long time are suddenly opened for unknown reasons, and a large number of securities transactions occur in a short period of time.
(5) Having business contacts with countries and regions with high risk of money laundering.
(6) buying and selling a large number of securities in a short period of time after opening an account, and then quickly closing the account.
(seven) customers do not conduct futures trading for a long time or a small amount, but a large number of funds are received and paid in their capital accounts.
(8) Customers who have not conducted futures trading for a long time suddenly conduct futures trading frequently for unknown reasons in the short term, and the amount of funds is huge.
(9) Customers frequently take the same futures contract as the target, open positions at one price and close positions at the same or roughly the same price, the same amount or nearly the same amount, and then withdraw funds.
(10) When a customer, as a seller of futures trading, delivers imported goods, he cannot provide complete customs declaration documents and tax payment vouchers, or provide forged or altered customs declaration documents and tax payment vouchers.
(11) The client requests that the fund share be transferred by non-transaction and cannot provide legal documents.
(12) Clients frequently handle the transfer custody of fund shares without reasonable reasons.
(thirteen) the customer requests to change its information, but the relevant documents and materials provided are suspected of being forged or altered.
Article 13 An insurance company shall report the following transactions or behaviors as suspicious transactions:
(a) short-term decentralized insurance, centralized surrender or centralized insurance, decentralized surrender without reasonable explanation.
(two) frequent insurance, surrender, change of insurance or insurance amount.
(3) Paying abnormal attention to the provisions on auditing, underwriting, claim settlement, payment and surrender of insurance companies, but not paying attention to the guarantee function and investment income of insurance products.
(4) It is said that a large amount of invoices are lost when surrendering during the hesitation period, or the total amount of invoices lost by the same policyholder for multiple surrenders in a short period of time reaches a large amount.
(5) It is found that the obtained information about the names, titles, residences, contact information or financial status of the applicant, the insured and the beneficiary is untrue.
(six) the insurance products purchased are obviously inconsistent with the expressed needs, and they still insist on purchasing after being explained by financial institutions and their staff.
(seven) to buy a large amount of insurance policy by wholesale, which is inconsistent with its economic situation.
(8) Refusing the insurance policy with a large premium during the hesitation period, surrendering the insurance within a short period after the insurance contract takes effect, or withdrawing the cash value, and requiring the surrender money to be transferred to a third-party account or a non-payment account.
(9) Insisting on surrendering without paying attention to the great financial losses that may be caused by surrendering, and unable to reasonably explain the reasons for surrendering.
(10) obviously overpaying the insurance premiums payable in the current period and immediately requesting the return of the excess.
(eleven) insurance brokers pay premiums, but can not explain the source of funds.
(twelve) legal persons and other organizations insist on the return of premiums in cash or by transferring them to non-payment accounts, and can not reasonably explain the reasons.
(thirteen) legal persons and other organizations to pay the first premium or wholesale premium from the non unit account or from overseas bank accounts.
(14) paying the insurance premium of a natural person through a third person, but the relationship between the third person and the applicant, the insured and the beneficiary cannot be reasonably explained.
(15) Having business contacts with countries and regions with high risk of money laundering.
(sixteen) without reasonable reasons, the applicant insists on using cash to insure, compensate, pay insurance money, refund the cash value of insurance premiums and policies, and pay other funds in a large amount.
(17) When an insurance company pays compensation or insurance benefits, the customer requests that the funds be remitted to a third party other than the insured or beneficiary; Or the customer requests to remit the refunded insurance premium and cash value of the policy to someone other than the insured.
Article 14 Except for the circumstances specified in Articles 11, 12 and 13 of these Measures, financial institutions and their staff members shall submit suspicious transaction reports to China Anti-Money Laundering Monitoring and Analysis Center if they find that other transactions are abnormal in terms of amount, frequency, flow direction and nature.
Article 15 Financial institutions shall analyze and identify the transactions involved in all suspicious transaction reports submitted to China Anti-Money Laundering Monitoring and Analysis Center in accordance with these Measures. If there are reasonable reasons to believe that the transactions or customers are related to money laundering, terrorist activities and other illegal and criminal activities, they shall also report to the local branch of the People’s Bank of China and cooperate with the administrative investigation of anti-money laundering of the People’s Bank of China.
Article 16 For transactions that are both large-value transactions and suspicious transactions, financial institutions shall submit large-value transaction reports and suspicious transaction reports respectively.
If the transaction meets two or more criteria for large-value transactions at the same time, financial institutions shall submit large-value transaction reports respectively.
Article 17 Financial institutions shall provide true, complete and accurate transaction information in accordance with the requirements of the elements of large-value transaction and suspicious transaction reports attached to these Measures (see the attached table for the elements), and make electronic documents of large-value transaction reports and suspicious transaction reports. The specific reporting format and reporting requirements shall be formulated separately by the People’s Bank of China.
Eighteenth financial institutions in violation of these measures, the people’s Bank of China shall be punished in accordance with the provisions of Article 31 and Article 32 of the Anti-Money Laundering Law of People’s Republic of China (PRC); According to different situations, it is suggested that China Banking Regulatory Commission, China Securities Regulatory Commission or China Insurance Regulatory Commission take the following measures:
(1) Ordering financial institutions to suspend business for rectification or revoke their business licenses.
(two) to cancel the qualifications of directors, senior managers and other directly responsible personnel of financial institutions, and prohibit them from engaging in the relevant financial industry.
(3) Ordering financial institutions to give disciplinary sanctions to the directors, senior managers and other directly responsible personnel.
The county (city) sub-branch of the People’s Bank of China finds that a financial institution violates these measures, and shall report to its superior branch, which shall punish or make suggestions in accordance with the provisions of the preceding paragraph.
Article 19 Where the People’s Bank of China and its branches at or above the central sub-branches of cities impose administrative penalties on financial institutions that violate these measures, they shall abide by the relevant provisions of the Provisions of the People’s Bank of China on Administrative Punishment Procedures.
Article 20 The following terms in these Measures have the following meanings:
"Short-term" means within 10 working days, including 10 working days.
"Long-term" means more than one year.
"Large amount" means that the transaction amount is single or accumulated below but close to the standard of large-value transactions.
"Frequent" means that the transaction occurs more than 3 times a day on business days, or it occurs every day for more than 3 days on business days.
"Above", including this number.
Article 21 These Measures shall come into force as of March 1, 2007. On January 3, 2003, China People’s Bank issued the Measures for the Administration of Large and Suspicious RMB Payment Transaction Reports (Order No.2 [2003] of the People’s Bank of China) and the Measures for the Administration of Large and Suspicious Foreign Exchange Fund Transaction Reports of Financial Institutions (Order No.3 [2003] of the People’s Bank of China) shall be abolished at the same time.
Attached Table: Elements of Large-value Transactions and Suspicious Transactions Report of Financial Institutions
attached table
Contents of report elements of large-value transactions and suspicious transactions of financial institutions
List of elements of large transaction report
Number element name Number element name
1 financial institution name 2 financial institution code type
3 Financial Institution Code 4 Customer Name/Name
5 Customer ID/supporting document type 6 Customer ID/supporting document number
7 Customer Nationality 8 Name of Agent
9 ID card/certificate type of agent 10 ID card/certificate number of agent
11 Nationality of Agent 12 Account Type
13 account number 14 transaction date
15 business identification number 16 transaction method
17 fund receipt and payment mark 18 transaction destination
19 Use of funds 20 Currency
21 Transaction Amount 22 Name of the counterparty’s financial institution
23 Counterparty Financial Institution Code Type 24 Counterparty Financial Institution Code
25 Counterparty Name 26 Counterparty ID/supporting document type
27 Counterparty ID/supporting document number 28 Counterparty account type
29 Counterparty Account Number 30 Reporting Date
List of elements of suspicious transaction report of banking financial institutions
Number element name Number element name
1 financial institution name 2 financial institution code type
3 Financial Institution Code 4 Customer Name/Name
5 Customer ID/supporting document type 6 Customer ID/supporting document number
7 Customer Type 8 Customer Contact Information
9 Customer Nationality 10 Name of Agent
11 ID card/certificate type of agent 12 ID card/certificate number of agent
13 Nationality of Agent 14 Occupation of Personal Client
15 Industry category of corporate customers 16 Registered capital of corporate customers
17 Name of legal representative of corporate client 18 Type of identity document of legal representative of corporate client
19 corporate customer legal representative ID number 20 account type
21 account number 22 account opening time
23 account cancellation time 24 transaction date
25 Transaction Method 26 Business Identification Number
27 signs of receipt and payment of funds 28 sources and uses of funds
29 Currency 30 Transaction Amount
31 Name of counterparty financial institution 32 Code type of counterparty financial institution
33 Counterparty Financial Institution Code 34 Counterparty ID/supporting document type
35 Counterparty Name/Name 36 Counterparty Account Type
37 Counterparty ID/supporting document number 38 Counterparty account number
39 Description of suspicious transaction characteristics 40 Filler
41 Date of report
List of elements of suspicious transaction report of financial institutions in securities and futures industry
Number element name Number element name
1 financial institution name 2 financial institution code type
3 financial institution code 4 financial institution contact information
5 Customer’s name/name 6 Customer’s ID card/supporting document type
7 Customer ID/supporting document number 8 Customer type
9 Customer contact information 10 Customer occupation or industry
11 Name of agent 12 ID card/certificate type of agent
13 ID card/certificate number of agent 14 Information of major shareholders of corporate clients
15 Name of legal representative of corporate client 16 ID number of legal representative of corporate client
17 ID card type of legal representative of corporate customer 18 Securities/fund/futures account number
19 Fund/settlement account No.20 Name of the opening bank of the fund/settlement account
21 Transaction Date 22 Transaction Type
23 transaction variety code 24 business identification number
25 Currency 26 Transaction Amount
27 direction of capital inflow and outflow 28 mode of capital inflow and outflow
29 Name of Handler/Transaction Instructor 30 Type of ID of Handler/Transaction Instructor
31 ID number of the handler/transaction indicator 32 Description of suspicious transaction characteristics
33 Reporting by 34 Reporting Date
List of elements of suspicious transaction report of insurance financial institutions
Number element name Number element name
1 financial institution name 2 financial institution code type
3 financial institution code 4 financial institution contact information
5 Place of business occurrence 6 Name/name of the applicant
7 ID card/certificate type of the applicant 8 ID card/certificate number of the applicant
9 policyholder type 10 customer contact information
11 Customer’s occupation or industry 12 Name of the insured
13 ID card/certificate type of the insured 14 ID card/certificate number of the insured
15 Relationship between the applicant and the insured 16 Name of beneficiary
17 beneficiary’s ID card/certificate type 18 beneficiary’s ID card/certificate number
19 Information of major shareholders of corporate clients 20 Name of legal representative of corporate clients
21 ID number of legal representative of corporate client 22 ID type of legal representative of corporate client
23 insurance name 24 insurance contract number
25 Insurance Period 26 Overview of Insurance Contents
27 Transaction Date 28 Transaction Type
29 Currency 30 Transaction Amount
31 direction of capital inflow and outflow 32 mode of capital inflow and outflow
33 fund account bank 34 bank transfer fund account number
35 Handler/Transaction Instructor ID Type 36 Name of Handler/Transaction Instructor
37 Description of suspicious transaction characteristics 38 ID number of the handler/transaction indicator
39 Report Date 40 Filer
People’s Bank of China on Strengthening the Micro-payment System
Notice on matters related to business promotion
Yinfa [2006] No.384
China People’s Bank Shanghai Headquarters, branches, business management departments, provincial capital city center branches and Shenzhen city center branches; All policy banks, state-owned commercial banks and joint-stock commercial banks:
With the strong cooperation and joint efforts of banks, the People’s Bank of China completed the construction and promotion of micropayment system in the whole country in June 2006. The micropayment system can support the application of various payment tools, meet the needs of low-cost and large-volume payment and clearing services in society, and become a safe and efficient public platform for interbank payment and clearing and business innovation of banking financial institutions. In order to give full play to the functions of the micropayment system and effectively improve the social public payment environment, the relevant matters concerning strengthening the business promotion of the micropayment system are hereby notified as follows:
First, strengthen business organization and publicity to improve social awareness.
Strengthening business organization and publicity is an important measure to promote the business of micropayment system. The Shanghai headquarters of the People’s Bank of China, branches, business management departments, and city center sub-branches of provincial capitals should coordinate relevant departments of local governments and make full use of various media to strengthen business organization and publicity, so as to further promote the business development of micropayment systems and support banks to expand and innovate their businesses by using micropayment systems; Starting from the payment demand of social and economic activities, combined with the functional characteristics of the micropayment system, we should comprehensively publicize the business knowledge of the micropayment system and improve the pertinence and effectiveness of the publicity. All banking financial institutions should strengthen the business training of micropayment system, especially the training of front-line business and management personnel; It is necessary to make full use of the service window, publicize the business functions of the micropayment system to the account opening unit, and improve the public’s awareness.
Two, combined with the actual situation in various places, strengthen the promotion of new business of micropayment system.
Five basic services, such as general debit, general credit, regular debit, regular credit and information service, have been opened in the micropayment system, and the check deposit business has been piloted in Tianjin, Hainan and Gansu provinces (cities). According to the business promotion plan, before the end of 2006, the People’s Bank of China will complete the pilot projects of check interception business of micropayment system in Gansu Province, deposit and withdrawal business in Shandong Province and centralized collection and payment business of clearing organizations in Shaanxi Province. The Shanghai headquarters of the People’s Bank of China, branches, business management departments, and central sub-branches of provincial capitals should do a good job in promoting the new business of micropayment system, determine the types of business to be promoted according to the actual situation in the region, formulate corresponding implementation plans and institutional measures, and organize their implementation within their jurisdiction after being approved by the head office.
Three, improve the contract (agreement) database, improve the efficiency of regular debit business.
The establishment of contract (agreement) database is the basis for the paying bank to handle the regular debit business accurately and efficiently, and it is also an important basis for the bank to confirm payment and avoid legal risks. The Shanghai headquarters of the People’s Bank of China, branches, business management departments, and central sub-branches of provincial capitals shall, in accordance with the requirements of business processing, formulate and improve the coding standards for regular debit business contracts (agreements) within their jurisdiction, organize banks to develop and build a contract (agreement) database in their front-end systems, and urge banks, enterprises and institutions to standardize, store and maintain the regular debit business contracts. The contract (agreement) number can be the authorization number of the payer to authorize his bank to deduct money. All banking financial institutions shall complete the establishment of the database of regular debit business contracts (agreements) before the end of March 2007, and coordinate the account opening units to do a good job in warehousing the regular debit business contracts (agreements).
Fourth, do a good job in bank-enterprise interface development and improve business processing efficiency.
It is an important means to improve the efficiency of business processing to develop the interface between banks and account opening units. At present, many enterprises and institutions still adopt the traditional way of submitting paper-based vouchers to the account-opening bank when handling batch business such as regular borrowing (lending), and the bank needs to record the information of paper-based vouchers one by one, and then convert them into electronic payment instructions of micropayment system, which is cumbersome and inefficient. All banking financial institutions should combine the business processing characteristics of micropayment system, coordinate account opening units with large business volume, develop the interface of business processing system between banks and enterprises, and enterprises should submit business data to the account opening bank by magnetic media or online mode to realize electronic processing of business data transmission.
Five, the reform of invoice delivery mode, convenient for charging unit business processing.
After the micropayment system is in operation, the paper-based vouchers of public utility charges and other services are intercepted at the receiving bank, and the charge invoices cannot be transmitted simultaneously. Because the payer needs to deal with the accounts according to the charge invoice and the debit receipt from the bank where the account is opened, it is necessary to properly solve the problem of charge invoice transmission for public utilities through the micropayment system. All branches of the People’s Bank of China should coordinate all banking institutions and charging units, and choose a simple, timely and economical delivery method for charging invoices. The charging unit may deliver the charging invoice by mail or direct delivery, or its bank may deliver the charging invoice through the same city bill exchange channel. In view of the characteristics of electronic processing of public utilities’ charging business, all branches of the People’s Bank of China should actively coordinate with local tax authorities to confirm the legal status of the bank issuing deduction receipts instead of charging invoices, so as to facilitate the business processing of the receiving and paying units.
Six, cancel the paper-based delivery of special entrusted collection in the same city to prevent operational risks.
At present, in some cities, public utility fees and public welfare fees are collected by special entrustment in the same city, and the collection of inter-bank fees needs to pass paper vouchers to the payer’s bank for review through the clearing house, which has many business links and low processing efficiency, and there are certain potential risks. The Shanghai headquarters of the People’s Bank of China, branches, business management departments, and city center sub-branches of provincial capitals should coordinate with banking financial institutions in light of local actual conditions, and cancel the paper-based transfer processing method of special entrusted collection in the same city within their jurisdiction before July 1, 2007, and all related businesses will be handled through the regular debit business of micropayment system.
Seven, the natural elimination of the same city clearing system
The local city clearing system has played a certain role in improving local financial services and promoting local economic development. After years of operation, some clearing systems in the same city have reached or approached their life cycle. In view of the fact that the micropayment system can replace the same city clearing system in functional design, in order to integrate the central bank’s payment and clearing service resources and avoid redundant construction and waste of resources, no new city clearing system can be built without the approval of the Head Office in the future. The existing clearing system in the same city should be eliminated naturally, and those that have reached the life cycle should stop running immediately; Those that have not reached the life cycle can maintain safe and stable operation, but they cannot be upgraded. If the local clearing system in the same city continues to operate, banking financial institutions may independently choose the same city clearing system or micropayment system to handle payment business according to the principle of marketization, and no unit or individual may interfere.
Eight, lower the system fees, mobilize the enthusiasm of participants to handle business through the system.
The charging standard of payment system business is an important benchmark to transmit the charging price of banking payment and settlement services, and it is also an important factor to attract banking financial institutions to handle business through payment system. The People’s Bank of China has decided to lower the charging standard for banking financial institutions to handle payment services through micropayment system from January 1, 2007, lower the benchmark price of small business packages from 5 yuan to 0.5 yuan, and lower the charging price of single payment services; Start the business fee return mechanism, and return the debit business fee to the initiating bank of business receipt at a certain rate; Cancel the toll increase rate during peak hours; Gradually realize the free policy of handling public welfare payment through micropayment system. See the annex for specific charging standards.
The fees charged by banking financial institutions to customers shall be subject to the provisions of the Notice of the State Planning Commission and the People’s Bank of China on Formulating the Fees for Electronic Remittance (No.791 [2001]). For businesses whose government-guided prices have not been clearly defined, the banking financial institutions shall determine them by themselves according to the principle of marketization.
Nine, the introduction of incentive mechanism to promote the development of micropayment system business.
In order to fully mobilize the enthusiasm of all participants, system operators and business management departments, and promote the development of micropayment system business, the People’s Bank of China will establish an evaluation mechanism for the promotion of micropayment system business. The head office of the People’s Bank of China will regularly make statistics and reports on the business volume handled by various regions and banks through the micropayment system, and give corresponding fee concessions to banking financial institutions that handle business through the micropayment system within a certain period of time. The head office of the People’s Bank of China will include the business promotion and business publicity organization of the micropayment system in Shanghai headquarters, branches, business management departments and provincial capital city central branches in the annual assessment.
Ten, strengthen the operation management, ensure the safe and stable operation of the system.
Large and small payment systems are two main application systems of China’s modern payment system, and their safe and stable operation directly affects the normal operation of the economy and the public’s confidence in the payment system. It is necessary to strengthen the operation management and improve the operation and maintenance mechanism to ensure the safe and stable operation of the system. The operating departments at all levels of the payment system should conscientiously implement the 7×24-hour operation duty system of the micropayment system and earnestly fulfill the commitment of the central bank to social services; Strict system operation inspection system, regular inspection of the main and standby machines and operating environment of the payment system, to ensure that the main and standby equipment of the system can automatically switch operation in case of failure; Adhere to the system of regular reporting on operation, and report the operation of the system to the superior operation department and the competent business department on a regular basis, and report any major problems in time; Establish and improve the emergency response plan of the payment system, organize emergency drills regularly, and improve the emergency response capability of the system.
Attachment: service charge standard of micropayment system
People’s Bank of China
Press release issued on November 3, 2006
attachment
Service charge standard of micropayment system
(Effective from January 1, 2007)
Category, business category, time period, charging standard, charging ratio of off-site business and city business (%)
Toll service
Ordinary credit is 17: 30-8: 300.24 yuan/pen and 0.08 yuan/pen.
808: 30-17: 300.3 yuan/pen 0.1 yuan/pen 100.
Real time debit
Real-time credit 17: 30-8: 300.6 yuan/pen.
0.2 yuan/pen 808: 30-17: 300.75 yuan/pen 0.25 yuan/pen 100.
Ordinary debit
Periodic debit
Credit 17: 30-8: 300.1 regularly.
0 yuan/pen 0.03 yuan/pen 808: 30-17: 300.12 yuan/pen 0.04 yuan/pen 100
General information 0.01 yuan /Kb
Real-time information 1 yuan /Kb
Payment service package
(ordinary debit, ordinary credit,
Regular debit, regular credit,
Real-time debit and real-time
Credit) 0.5 yuan/bag
Query message
Free-form message 1 yuan/pen (same as large payment system)
Toll-free check interception service
Check image business receipt
Credit refund
Check message
Business initiated by the People’s Bank of China and the State Treasury 0
Fee-based return service type return target
accurate
Ordinary debit 50%/ transaction
Regular debit 30%/ transaction
The people’s bank of China and the state treasury as payment
Party’s debit business 0 yuan/transaction.
People’s Bank of China on promoting
Guiding opinions on the business development of commercial acceptance bills
Yinfa [2006] No.385
A commercial acceptance bill is a bill issued by a legal person or other organization and accepted by a payer other than a bank. The payer unconditionally pays a certain amount to the payee or holder on a specified date. Commercial acceptance bill is a credit payment tool based on commercial credit, which has the characteristics of clear rights and obligations, negotiable payment and transferable discount. Promoting the use of commercial acceptance bills is conducive to enriching the means of payment of enterprises and coordinating the relationship between production, supply and marketing of enterprises; It is conducive to alleviating the arrears of payment between enterprises and maintaining the normal and smooth commodity trading order; It is conducive to promoting the organic combination of bank credit and enterprise commercial credit and alleviating the contradiction of financing difficulties for small and medium-sized enterprises; It is conducive to promoting the commercialization of commercial credit, enriching the instruments of the bill market and promoting the development of the bill market; It is conducive to establishing and perfecting a good credit mechanism, enhancing social credit awareness and improving social credit degree.
In recent years, China’s commercial bill business has developed rapidly, and the scale of acceptance, discount and reposting of commercial bills has been expanding, which has played a positive role in facilitating payment and settlement of enterprises, broadening financing channels of enterprises and improving the quality of credit assets of commercial banks. However, the structural contradiction between the high proportion of bank acceptance bills and the low proportion of commercial acceptance bills is more prominent.
In order to further improve the settlement efficiency of enterprises, adjust the category structure of commercial bills, guide and encourage the development of commercial credit, and give play to the role of commercial acceptance bills in promoting social and economic development, we hereby put forward the following opinions.
First, mobilize the enthusiasm of all parties and establish a benign mechanism to effectively promote commercial acceptance bills.
The People’s Bank of China should organize commercial banks to formulate specific implementation plans to promote the use of commercial acceptance bills, select and encourage some enterprises with good credit standing and relatively stable relationship between production, supply and marketing to issue, accept and transfer commercial acceptance bills in commodity trading and labor supply; Through key demonstration, from point to area, the commercial acceptance bill business between high-quality enterprises and upstream and downstream enterprises will be carried out to promote other enterprises to widely use commercial acceptance bills; According to the national macro-control policies and industrial development policies, according to local conditions, commercial acceptance bills issued by enterprises with good credit status should be given rediscount support; It is necessary to create conditions, promote the establishment of a convenient inquiry platform for commercial acceptance bills, and reduce the transaction cost of commercial acceptance bills; It is necessary to study and explore a reasonable price mechanism to promote the development of commercial acceptance bill business in accordance with the principle that cost, income and risk are symmetrical and conducive to mobilizing the enthusiasm of all parties.
Commercial banks should change their ideas, innovate the development form of commercial acceptance bill business, explore new profit growth points and realize a win-win situation for banks and enterprises; We should continue to explore the establishment of bill franchises, expand and improve the business scope of bill franchises, and promote the specialized and intensive operation of bill business; Vigorously promote the mode of bank credit boosting enterprise commercial credit, explore the combination of letter of guarantee business, bill guarantee business and commercial acceptance bill business, and adopt the forms of guarantee and sticker for commercial acceptance bill to improve the credit guarantee degree of commercial acceptance bill; Do a good job in granting credit to commercial acceptance bills, and give discount support to commercial acceptance bills issued by enterprises with good credit status.
Enterprises can make use of the characteristics of commercial acceptance bill to pay by contract, and pay by issuing commercial acceptance bill when delaying payment. Conditional SMEs can choose enterprises with good credit and strong financial strength as guarantors of commercial acceptance bills, so as to enhance the credit of bills and promote the circulation of commercial acceptance bills accepted by SMEs. Encourage the payee to accept commercial acceptance bills on the basis of fully understanding the credit status of the payer, reduce oral credit and credit on account, and improve the contract performance rate.
Two, give full play to the role of the basic database of enterprise credit information, and enhance the confidence of enterprises in accepting commercial acceptance bills.
The People’s Bank of China should study and promote the use of enterprise credit information in the business of commercial acceptance bills, increase publicity, guide and encourage commercial banks and enterprises to use the basic database of enterprise credit information according to law when handling commercial acceptance bills, and provide credit inquiry support for the promotion of commercial acceptance bills. It is necessary to organize intermediaries with social credibility to carry out enterprise credit rating in a planned way, and promote the combination of rating results and bank credit support. It is necessary to continue to increase the collection of enterprise credit information, expand the scope of information collection, and collect and disclose information such as illegal opening and use of bank settlement accounts, default payment, evasion of debts, and unpaid taxes through appropriate means.
Commercial banks should strengthen the collection, collation, analysis and utilization of customer payment and settlement credit information, track and understand the issuance, acceptance and payment of commercial acceptance bills by enterprises, and actively submit bad payment information and other credit information of the acceptor of commercial acceptance bills to the People’s Bank of China. The bank of account of the acceptor of a commercial acceptance bill shall cooperate with the reasonable inquiry of the holder’s bank and the discount bank.
Encourage the drawer and acceptor of commercial acceptance bills to conduct credit rating, and incorporate the rating results into the basic database of enterprise credit information, and accept inquiries according to law. When an enterprise handles the business of commercial acceptance bills, the drawer and acceptor should strictly abide by the settlement principle of "abiding by credit and performing payment" and pay the due commercial acceptance bills in full and on time, so as to create a good corporate credit culture, enhance their own brand and reputation, and thus promote the improvement of social credit.
Third, establish an effective punishment mechanism for default payment to urge the acceptor of commercial acceptance bills to pay and perform.
The People’s Bank of China should take specific measures in a targeted manner, gradually establish information files on commercial acceptance bills within its jurisdiction, and do a good job in monitoring and analyzing commercial acceptance bills within its jurisdiction; Establish a "blacklist" system for unreasonable refusal to pay and delay payment of commercial acceptance bills, and notify the society regularly to enhance the social concern of default payment and increase the punishment for defaulting enterprises.
If the drawee of a commercial acceptance bill deliberately delays payment or refuses to pay the due commercial acceptance bill unreasonably, the People’s Bank of China will impose a fine of 0.07% of the daily bill amount in accordance with Article 33 of the Measures for the Implementation of Bill Management.
For those who refuse to pay or delay payment repeatedly and unreasonably, commercial banks should not only stop handling the business of discounting, guaranteeing and pasting commercial acceptance bills, but also suspend some or all payment and settlement business.
Four, do a good job in the prevention and control of commercial acceptance bill business risks, to ensure the healthy development of commercial acceptance bill business.
The People’s Bank of China should strengthen the supervision and management of commercial acceptance bills. Timely release the risk information of commercial acceptance bill business, make necessary risk tips, and guide enterprises to correctly handle commercial acceptance bill business.
Commercial banks should strengthen the risk management of commercial acceptance bills. Conduct strict real trade background review to prevent the use of commercial acceptance bills to obtain discounted funds from banks and other illegal activities; Improve the qualification examination procedures, conduct practical credit and solvency surveys on acceptance enterprises and discount application enterprises, and be cautious in granting credit to enterprises with poor credit and financial conditions to avoid adding non-performing assets; Incorporate the credit line of discount, guarantee and guarantee of commercial acceptance bills into the comprehensive credit line management, implement total control, and adjust it dynamically according to the financial, credit and business conditions of the acceptance enterprises and discount applicants.
When using commercial acceptance bills, enterprises need to master the basic knowledge of business risk prevention and control of commercial acceptance bills, be familiar with the provisions on the issuance, acceptance, endorsement and discount of commercial acceptance bills, and handle commercial acceptance bills accurately; Strictly follow the requirements of real trade background, and put an end to taking bank funds through fictitious transactions of related relationships. When an enterprise accepts a commercial acceptance bill, it should be commensurate with its financial strength to avoid blind acceptance and debt expansion. When an enterprise accepts a commercial acceptance bill, it should pay attention to carefully examining the authenticity of the bill and the credit status of the acceptor to prevent the risk of the bill.
Five, strengthen the publicity and training of commercial acceptance bills, and popularize the business knowledge of commercial acceptance bills.
The People’s Bank of China should organize and coordinate commercial banks, face the society, adopt various forms, and extensively carry out publicity and training work on commercial acceptance bill business. Promote the significance and role of commercial acceptance bills in providing settlement facilities and financing facilities for enterprises, as well as their functions in enriching payment and settlement tools for enterprises, improving the efficiency of capital use, enhancing corporate image and enhancing corporate credit.
Commercial banks should make full use of the direct relationship between banks and enterprises, start from providing customers with more and higher quality payment and settlement services, and increase publicity and training for corporate financial personnel through various forms to familiarize them with the basic knowledge and operating procedures of bill business, especially commercial acceptance bills; Guide enterprises to use commercial acceptance bills more according to the needs of their own economic activities; Help enterprise financial personnel to master the methods and techniques to identify the authenticity of bills, so as to achieve correct bill business operations, avoid accepting fake tickets and defective bills, and promote the circulation of bills.
People’s Bank of China
November 6, 2006
