CONTROL PROCEDURES OF THE PEOPLE'S REPUBLIC OF CHINA ON CARRYING THE STATE CURRENCY INTO OR OUT OF THE COUNTRY

Article 1. These Procedures are formulated to strengthen the control on carrying the State currency into or out of the country, safeguard the order of State finances and meet the needs of reforms and opening to the outside world.

Article 2. State currency mentioned in these Procedures refers to Renminbi issued by the People's Bank of China.

Article 3. The State practises a control system of allowing limited amounts of the currency to be carried into or out of the country.

Each Chinese citizen or foreign national can only carry a prescribed amount of Renminbi upon each entry into or exit from China. The amount will be set by the People's Bank of China.

Article 4. The person carrying State currency into or out of the country should make truthful declarations at the customs according to State regulations.

Article 5. It is not allowed to smuggle State currency into or out of the country in postal matter. It is not allowed to make unauthorized transportation of State currency into or out of the country.

Article 6. The transport, carrying or smuggling in postal matter of State currency into or out of the country in violation of State regulations will be dealt with by departments of the State according to law. Serious cases constituting criminal offences shall be prosecuted by the judiciary according to law.

Article 7. Responsibility for interpretation of these Procedures rests with the People's Bank of China.

Article 8. These procedures will come into force as of March 1, 1993. The Procedures of the People's Republic of China on Prohibiting the Carrying of State Currency Into or Out of the Country promulgated by the Government Administration Council of the Central People's Government on March 6, 1951 will be simultaneously abolished.