中国银行对外商投资企业贷款办法 MEASURES OF THE BANK OF CHINA CONCERNING THE GRANTING OF LOANS TOENTE RPRISES WITH FOREIGN INVESTMENT
（Approved by the State Council on April 7， 1987 and promulgated by the Bank of China on April 24， 1987）
颁布日期：19870424 实施日期：19870424 颁布单位：中国银行
Article 1 These Measures are formulated for the purpose of supporting the production and business activities of enterprises with foreign investment， expanding the economic and technological co-operation with foreign countries， and facilitating and promoting the development of national economy.
Article 2 The Bank of China shall， in accordance with the State policies and on the basis of the principles of ensuring safety and benefit and providing services， grant loans to enterprises with foreign investment that need funds for their construction projects and production and business operations， with the priority to those product-for-export enterprises and advanced technology enterprises which enjoy good economic returns.
Article 3 Enterprises with foreign investment， i.e. Chinese-foreign equity joint ventures and Chinese-foreign contractual joint ventures， and foreign- capital enterprises （hereinafter referred to as “enterprises”） that qualify for obtaining loans as prescribed in Article 7 of these Measures may apply to the Bank of China for loans.
Article 4 The Bank of China must， when providing loans， sign a loan agreement with the borrower and strengthen the management of its loans.
Article 5 The Bank of China shall grant the following loans to the enterprises：
1. Fixed assets loans to be used for covering the expenses for the construction， the purchase of technology and equipment， and the installation of the equipment incurred by capital construction projects and technical innovation projects. The loans shall be divided into the following forms：
（1） medium and short-term loans；
（2） buyer's credit；
（3） syndicate loans；
（4） project loans.
2. Working capital loans to be used as funds needed in the enterprises' production and circulation of commodities and in their normal business operations. The loan shall be divided into the following forms：
（1） production reserves and operating loans；
（2） incidental loans；
（3） current deposit overdraft.
3. Loans on spot exchange mortgage to be granted by the Bank of China in accordance with the provisions of the Interim Measures Concerning the Renminbi with Foreign Investment promulgated by the People's Bank of China.
4. Stand-by loans to be granted by the Bank of China upon examination and approval of the application submitted by an enterprise， and be put by and used for future special purposes as specified in the application.
Article 6 The currencies in respect of loans shall be divided into domestic currency and foreign currencies. The domestic currency refers to Renminbi and foreign currencies shall include U.S. Dollars， British Sterling Pounds， Japanese Yens， Hong Kong Dollars， Federal German Marks， and other convertible currencies accepted by the Bank of China.
Article 7 Any enterprise with foreign investment that applies for loans shall satisfy the following precondition：
1. The applying enterprise has obtained a business licence issued by a Chinese administrative department for industry and commerce and has opened an account with the Bank of China.
2. The registered capital of the applying enterprise has been fully paid in within the prescribed period of time and has been increased in accordance with the law.
3. The board of directors of the applying enterprise has made the decision on the borrowing and has issued the letter of authorization.
4. The programme of investment in fixed assets of the applying enterprise has been approved by a planning department.
5. The applying enterprise has the ability to repay the loan and has provided the reliable guarantee for repaying the principal and interest.
Article 8 The term of a loan shall commence from the day on which the loan contract goes into effect and terminate on the day on which the principal， the interest， and all other relevant fees have been paid in full as stipulated by the contract.
Article 9 The term for a fixed assets loan shall not exceed 7 years. The term of a loan for a particular project of a special type may， subject to the approval of the Bank of China， be properly extended， but such extension shall not exceed the time which is one year prior to the termination of business of the enterprise as prescribed by the business licence of the enterprise.
Article 10 The term of a working capital loan shall not exceed 12 months.
Article 11 The interest rates of loans in Renminbi shall be calculated in accordance with the interest rates of loans granted to State-owned enterprises as determined by the People's Bank of China.
The interest rates of loans in foreign currencies shall be calculated in accordance with the integrated interest rates set by the Head Office of the Bank of China； it may also be determined through consultation between the lender and the borrower in the light of the interest rates in the international market. The interest rates with respect to foreign buyer's credit and other credits shall be determined on the basis of the agreed rates plus a certain margin.
Article 12 The period and method for calculating interest with respect to loans in Renminbi shall be those prescribed by the People's Bank of China； the period and method for calculating interest with respect to loans in foreign currencies shall be those prescribed in loan contracts.
Article 13 Any enterprise that applies to the Bank of China for a loan shall go through the following procedures：
1. The enterprise shall submit an application， together with the corresponding certifications and materials in the light of the specific details of the requirement for the loan；
2. The Bank of China shall examine and assess the application and the certifications and materials submitted， and upon verification and approval， the lender and the borrower shall sign a loan contract through negotiation.
Article 14 The enterprise shall use the loan in accordance with the schedule， amount and scope for use as stipulated in the loan contract.
Article 15 In case where the Bank of China deems it necessary for the enterprise applying for loans to provide a guarantee， the enterprise must provide one that is acceptable to the Bank.
Article 16 The enterprise may submit to the Bank of China the following guarantees：
1. Credit guarantee. The enterprise may submit to the Bank of China an irrevocable letter of guarantee for the repayment of the principal and interest of the loan issued by a financial institution， or an enterprise， or any other unit that enjoys creditworthiness and has the capability to repay the debt.
2. Mortgage guarantee. The enterprise may mortgage its property and rights and interests to the Bank of China as guarantee for the repayment of the principal and interest of the loan granted by the Bank of China. The following items may be mortgaged：
（1） building property， machinery and equipment；
（2） marketable goods in stock；
（3） deposits or deposit certificates in foreign currencies；
（4） negotiable securities and instruments；
（5） stock equities or other transferable rights and interests.
Article 17 An enterprise that is to obtain a loan secured by mortgage shall sign a mortgage document with the Bank of China， which shall be notarized by a Chinese notary office. The collateral security shall be insured with the People's Insurance Company of China in its full value. The enterprise shall provide both credit guarantee and mortgage guarantee when the Bank of China deems it necessary.
Article 18 The enterprise shall， in accordance with the loan contract， repay the loan and pay the interest and other relevant fees in full and on schedule.
Article 19 The after-tax net cash income of the enterprise shall first be used to repay the fixed assets loan.
Article 20 With respect to an enterprise that fails to comply with the provisions of the loan contract， the Bank of China shall have the right to adopt the following measures to safeguard its rights and interests in accordance with the loan contract and in the light of the seriousness of the breach：
1. setting a deadline for the rectification of the breach；
2. suspending the loan；
3. recalling the loan ahead of schedule；
4. notifying the guarantor to perform its guarantee responsibility.
Article 21 If the enterprise fails to repay the principal of the loan and pay the interest， in the case of a loan in credit guarantee， the guarantor enterprise （or unit） shall be liable for repaying the defaulted principal of the loan and paying the defaulted interest and relevant fees thereon and， in the case of a loan on mortgage guarantee， the Bank of China shall， in accordance with the provisions of the law， have the right and priority to have the principal of the loan repaid and have the defaulted interest and other fees thereon paid with the collateral security duly commuted or with the money derived from selling the collateral security.
With respect to a loan which the enterprise fails to repay on schedule， the Bank of China shall impose as a penalty an additional interest at a rate ranging from 20 percent to 50 percent above its original rate starting from the day repayment is overdue.
Article 22 The Bank of China shall have the right to examine the situation as to how the enterprise is using the loan. The enterprise shall periodically report to the Bank of China the progress of the construction of the project concerned， the plans for its production， sales and finance， and submit the statements and materials of implementation thereof until the loan is fully repaid. If the owner of the enterprise is represented by another legal person， the owner shall， when the Bank of China deems it necessary， submit to the Bank of China its annual financial statement.
When the Bank of China is conducting inspection of credit， the enterprise shall report the actual situation and provide convenience for the work.
Article 23 Before the loan is fully repaid， the enterprise shall， unless otherwise approved by the Bank of China， handle all the financial matters in its business operations through the account it has opened with the Bank of China and may not transfer its funds to other banks or financial institutions without authorization. When the Bank of China deems it necessary， it shall have the right to require the enterprise to open a custody account.
Article 24 The enterprise shall notify in due time the Bank of China of any ajor resolutions or decisions made by its board of directors or by its owner on financial affairs as well as of any change of personnel in the board. The enterprise shall solicit the opinions of the Bank of China in advance with respect to any major amendments and supplements to its joint venture contract or cooperative contract and its articles of association， if such amendments and supplements will affect the creditor's rights of the Bank of China.
Article 25 Unless otherwise approved by the Bank of China， the valid language used in the legal documents such as the loan contract signed by the enterprise and the Bank of China and the annexes thereto shall be the Chinese language and the applicable law shall be the law of the People's Republic of China.
Article 26 The rules for the implementation of these Measures shall be formulated by the Head Office of the Bank of China. The Bank of China in a special economic zone may， in the light of its actual business situation， draw up detailed rules for the implementation thereof， which shall be submitted to the Head Office of the Bank of China for approval before they are enforced.
Article 27 These Measures shall go into effect as of the date of promulgation. The Interim Measures of the Bank of China for Granting Loans to Chinese- Foreign Equity Joint Ventures approved by the State Council and promulgated by the Bank of China on March 3， 1981 shall be simultaneously annulled.
With respect to the loan contracts signed by the Bank of China and enterprises before the entry into force of these Measures， such loan contracts shall continue to be valid.
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