AMENDMENTS TO REGULATIONS FOR FOREIGN EXCHANGE CONTROL BY THE STATE COUNCIL

Recently,decision has been made by the State Council onthe amendments to the Regulations for foreign Exchange Controlof the People’s Republic of China".The following amendments to the "Regulations Foreign Ex-change Control of the People’s Republic of China" are decided bythe State Council:1.Add an article and become Article five "No restriction bythe State as to regular international payment and transfer".2.Article 13 Clause one become Article 14 Clause one,amendto read "Foreign exchange of private use by individuals can be pur-chased within the prescribed limit amount.Foreign exchange ofprivate use by individuals in excess of the prescribed limit amount,an application has to be filed with the Administration of ExchangeControl,and foreign exchange can be purchased after