May 31, 2010
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Circular on Management of Travel Agencies' Foreign Exchange From Travel Service [Expired]
国家外汇管理局关于旅行社旅游外汇收支管理有关问题的通知 [失效]
Circular on Management of Travel Agencies' Foreign Exchange From Travel Service
(Promulgated by State Administration of Foreign Exchange on January 3, 2001)
Huifa [2001] No. 3
Provincial Branches of The State Administration of Foreign Exchange, (Hereinafter the SAFE) Beijing and Chongqing Department of SAFE; City Branches of Dalian, Qingdao, Ningbo, Xiamen and Shenzhen of SAFE; Foreign Exchange Designated Banks:
In order to further strengthen and regulated management on travel agencies? Foreign exchange receipts and payments from travel service, based on the Regulation on Surrender, Buy and Payment of Foreign Exchange, and the Provisional Rule on Foreign Exchange Management of Domestic Residents, the issues related to foreign exchange receipts and payments of travel agencies from accepting foreign tourist group and organizing domestic residents' private travel abroad are notified as below.


1. Travel agencies should charge fees in foreign exchange rather than RMB when accepting foreign tourist group. Travel agencies should settle with the foreign travel agencies in foreign exchange when organizing domestic residents travel abroad.
2. The foreign exchange receipts of travel agencies from accepting foreign tourist group should not be used to effect payments for organizing domestic residents travel abroad, nor be kept at abroad.
3. With approval from the SAFE or its branches, Chinese funded international travel agencies may apply for opening a special foreign exchange account for accepting foreign tourist group in China, the credit side of such accounts should be the receipts from accepting foreign tourists in China, the debit side should be rebates of fees and the payments for organizing domestic tourist group abroad if approved by the SAFE, and the remaining foreign exchange of the account at end of each year should be surrendered to market; the Chinese funded travel agencies with authority to organize domestic residents to travel abroad on their own expenses may open a special foreign exchange account for organizing tourist group travel abroad besides the account for accepting foreign tourist group in China, credit to the account should be payments for domestic residents' expenses at abroad. The foregoing accounts should be maintained at the bank where the foreign currencies are converted; foreign funded travel agencies may open a foreign exchange current account to deal with foreign exchange receipts and payments under travel.
4. Issues related to the opening, use and close etc of travel agencies' foreign exchange account should apply to the Regulation on Management of Domestic Foreign Exchange Account.
5. Foreign currency conversion in case of domestic residents' private travel abroad should apply to the Provisional Rule on Foreign Exchange Management of Domestic Individual, and the converted foreign exchange covers expenses at abroad for meal, accommodation and pin money. Conversion should be made by travel agencies, and travel agencies should give the remaining foreign exchange to tourists as pin money after deducting the expenses for travel abroad. The travel agencies should not buy foreign exchange for paying the tourist group's expenses at abroad unless they do on behalf of tourists.
6. Only for the travel agencies listed in the "name list of travel agencies authorized to operate business of organizing Chinese residents' private travel abroad" (see Attachment I), may banks make foreign currency conversion when the travel agencies organize domestic residents' private travel abroad.
7. Only in case the designated place is in the designated country (region) list of Chinese residents' private travel abroad, may bank make foreign currency conversion for the authorized travel agencies organizing Chinese residents' private travel abroad.
8. When travel agencies organize domestic residents' private travel abroad, the foreign currency conversion should only be made in the bank designated by the SAFE. Travel agencies should receive RMB strictly applying to the day's foreign exchange board rate. Travel agencies should charge fees in term of relevant regulations when they change money on behalf of tourists.

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