| Announcement of the People's Bank of China and the State Administration of Foreign Exchange | | 中国人民银行、国家外汇管理局公告 |
| (No. 8 [2019]) | | （〔2019〕第8号） |
| For the purposes of standardizing the management of cross-border funds of depositary receipts, in accordance with the Law of the People's Republic of China on the People's Bank of China, the Regulation of the People's Republic of China on Foreign Exchange Administration (Order No. 532, State Council of the People's Republic of China), the Notice of the General Office of the State Council on Forwarding Several Opinions of the China Securities Regulatory Commission on Launching the Pilot Program for Innovative Enterprises to Offer Stocks or Depositary Receipts within China (No. 21 [2018], General Office of the State Council) and other relevant provisions, the People's Bank of China (“PBC”) and the State Administration of Foreign Exchange (“SAFE”) have developed the Measures for the Administration of Cross-Border Funds of Depositary Receipts (for Trial Implementation), which are hereby issued, and shall come into force on the date of issuance. | | 为规范存托凭证跨境资金管理，根据《中华人民共和国中国人民银行法》、《中华人民共和国外汇管理条例》（中华人民共和国国务院令第532号）、《国务院办公厅转发证监会关于开展创新企业境内发行股票或存托凭证试点若干意见的通知》（国办发〔2018〕21号）及其他相关规定，中国人民银行、国家外汇管理局制定了《存托凭证跨境资金管理办法（试行）》。现予以公布，自公布之日起实施。 |
| Annex: Measures for the Administration of Cross-Border Funds of Depositary Receipts (for Trial Implementation) | | 附件：存托凭证跨境资金管理办法（试行） |
| People's Bank of China | | 中国人民银行 |
| State Administration of Foreign Exchange | | 外汇局 |
| May 25, 2019 | | 2019年5月25日 |
| Measures for the Administration of Cross-Border Funds of Depositary Receipts (for Trial Implementation) | | 存托凭证跨境资金管理办法(试行) |
| Chapter I General Provisions | | 第一章 总则 |
| Article 1 For the purposes of standardizing the management of cross-border funds of depositary receipts, these Measures are developed in accordance with the Law of the People's Republic of China on the People's Bank of China, the Regulation of the People's Republic of China on Foreign Exchange Administration (Order No. 532, State Council of the People's Republic of China), the Notice of the General Office of the State Council on Forwarding Several Opinions of the China Securities Regulatory Commission on Launching the Pilot Program for Innovative Enterprises to Offer Stocks or Depositary Receipts within China (No. 21 [2018], General Office of the State Council) and other relevant provisions. | | 第一条 为规范存托凭证跨境资金管理，根据《中华人民共和国中国人民银行法》、《中华人民共和国外汇管理条例》(中华人民共和国国务院令第532号)、《国务院办公厅转发证监会关于开展创新企业境内发行股票或存托凭证试点若干意见的通知》(国办发[2018]21号)及其他相关规定，制定本办法。 |
| Article 2 For the purposes of these Measures, “depositary receipts” include depositary receipts issued by overseas underlying securities issuers (hereinafter referred to as “overseas issuers”) within the territory of China (hereinafter referred to as “Chinese depositary receipts”) and depositary receipts issued by domestic enterprises abroad (hereinafter referred to as “overseas depositary receipts”). | | 第二条 本办法所称的存托凭证，包括境外基础证券发行人(以下简称境外发行人)在中国境内发行的存托凭证(以下简称中国存托凭证)，以及境内企业在境外发行的存托凭证(以下简称境外存托凭证)。 |
| Article 3 The cross-border receipts and payments using RMB in the depositary receipt business shall be encouraged, and cross-border RMB fund settlement shall be completed through the Cross-border Interbank Payment System (CIPS). | | 第三条 鼓励存托凭证业务使用人民币进行跨境收付，并通过人民币跨境支付系统(CIPS)完成跨境人民币资金结算。 |
| Article 4 The PBC and its branch offices, the SAFE and its branches and foreign exchange administrative departments shall, in accordance with the law, oversee, administer and inspect the accounts, fund receipts and payments, and remittance, among others, involved in the issuance and trading of depositary receipts. | | 第四条 中国人民银行及其分支机构、国家外汇管理局及其分局、外汇管理部依法对存托凭证发行、交易等涉及的账户、资金收付及汇兑等实施监督、管理和检查。 |
| Chapter II Administration of Funds for the Issuance of Depositary Receipts | | 第二章 存托凭证发行资金管理 |
| Article 5 Overseas issuers and domestic enterprises which issue depositary receipts based on new securities (including initial offering, additional issue, and placement of shares, among others, here and below) shall undergo registration in accordance with the provisions of the Regulation of the People's Republic of China on Foreign Exchange Administration. | | 第五条 境外发行人和境内企业发行以新增证券(含首发、增发、配股等，下同)为基础的存托凭证，应按《中华人民共和国外汇管理条例》规定办理登记。 |
| Article 6 Domestic enterprises that issue overseas depositary receipts based on new securities shall, in accordance with the Notice of the People's Bank of China on Further Improving Cross-Border RMB Service Policies to Promote Trade and Investment Facilitation (No. 3 [2018], PBC), the Notice of the State Administration of Foreign Exchange on Issues concerning the Foreign Exchange Administration of Overseas Listing (No. 54 [2014], SAFE) and other provisions, handle such matters as registration, account opening and use, fund receipts and payments and remittance. | | 第六条 境内企业以新增证券为基础发行境外存托凭证，应按照《中国人民银行关于进一步完善人民币跨境业务政策促进贸易投资便利化的通知》(银发[2018]3号)、《国家外汇管理局关于境外上市外汇管理有关问题的通知》(汇发[2014]54号)等规定办理登记、账户开立与使用、资金收付及汇兑等事项。 |
| Article 7 Where an overseas issuer issues a Chinese depositary receipt based on new securities, it shall, within 10 working days after obtaining the issuance approval of the CSRC, entrust its domestic lead underwriter (or relevant domestic agency) to undergo registration at the SAFE branch or foreign exchange administrative department at the place of the domestic stock exchange where it is listed based on the following materials: | | 第七条 境外发行人以新增证券为基础发行中国存托凭证，应在获得证监会核准发行后10个工作日内，委托其境内主承销商(或境内相关代理机构)，持以下材料到其上市境内证券交易所所在地国家外汇管理局分局或外汇管理部(以下简称所在地外汇局)办理登记： |
| (1) Registration Form for the Issuance of Chinese Depositary Receipts Based on New Securities (see Annex 1). | | (一)《以新增证券为基础的中国存托凭证发行登记表》(见附1)； |
| (2) Certification materials of the CSRC approving the issuance of the Chinese depositary receipt. | | (二)证监会核准发行中国存托凭证的证明材料； |
| (3) Entrustment agency agreement on the overseas issuer's entrustment of the domestic lead underwriter (or relevant domestic agency) to register the Chinese depositary receipt. | | (三)境外发行人委托境内主承销商(或境内相关代理机构)办理中国存托凭证登记的委托代理协议。 |
After the local foreign exchange authority examines and finds no error in the aforesaid materials, it shall undergo registration for the overseas issuer in the capital account information system (hereinafter referred to as the “system”), print the business registration certificate through the system, affix the business seal and hand it over to the domestic lead underwriter (or relevant domestic agency).
．．．．．． | | 所在地外汇局审核上述材料无误后，在资本项目信息系统(以下简称系统)为境外发行人办理登记，并通过系统打印业务登记凭证，加盖业务印章后交至境内主承销商(或境内相关代理机构)。
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