Categorized management of foreign debt
(1) Loans from international financial organizations and foreign government loans are unified by the state. Borrow. The National Development and Reform Commission, together with the Ministry of Finance and other relevant departments, formulates alternative project plans for loans from the World Bank, the Asian Development Bank, the United Nations Agricultural Development Fund and foreign governments. The Ministry of Finance organizes foreign negotiations, consultations, signing of loan agreements and domestic debtors according to the plan. Direct loan or on-lending through relevant financial institutions. Among them, alternative project plans for loans from the World Bank, Asian Development Bank, United Nations Fund for Agricultural Development and foreign governments in key countries must be approved by the State Council.
(2) The issuance of bonds overseas by the Ministry of Finance on behalf of the country shall be reported to the State Council for approval and included in the country’s foreign debt borrowing plan. The issuance of medium and long-term bonds overseas by any other domestic institution shall be reviewed by the National Development and Reform Commission in conjunction with the State Administration of Foreign Exchange and submitted to the State Council for approval; the issuance of short-term bonds overseas shall be subject to the approval of the State Administration of Foreign Exchange. If rolling issuance is set, the State Administration of Foreign Exchange shall The Administration will review and approve in conjunction with the National Development and Reform Commission.
(3) The state implements balance management on medium and long-term international commercial loans borrowed by state-owned commercial banks. The balance shall be reviewed by the National Development and Reform Commission and relevant departments and then submitted to the State Council for approval. .
(4) Domestic Chinese-funded enterprises and other institutions must obtain approval from the National Development and Reform Commission to borrow medium and long-term international commercial loans. The state implements balance management on short-term international commercial loans borrowed by domestic Chinese-funded institutions, and the balance is determined by the State Administration of Foreign Exchange.
(5) The state controls the total amount of foreign debt borrowed by domestic foreign-funded financial institutions.
(6) The sum of the cumulative amount of medium- and long-term foreign debts borrowed by foreign-invested enterprises and the balance of short-term foreign debts shall be controlled within the total investment and registered capital of the project approved by the approval department within the difference between them. Within the range of the difference, foreign-invested enterprises can borrow foreign debts for free. If the difference exceeds the difference, the total project investment must be re-assessed by the original approval department.
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