金融机构代客户办理即期和远期外汇买卖管理规定(附英文)
【颁布单位】 国家外管局
【颁布日期】 19880305
【实施日期】 19880305
【内容分类】 金融
金融机构代客户办理即期和远期外汇买卖管理规定
（１９８７年１２月１３日国务院批准）

全文
第一条 为了防范汇率风险，稳定进出口贸易（包括其他对外经济活动）成本，
开展即期和远期外汇买卖业务，制定本规定。
第二条 中国银行可以接受中国境内的机关、团体、企业、事业及其他单位（以
下简称客户）的委托，代理买卖即期和远期外汇。
其他金融机构经营前款规定的业务，须经国家外汇管理局批准。
第三条 本规定所称外汇买卖系指各种可兑换货币之间的买卖。
第四条 客户委托中国银行或者经国家外汇管理局批准的其他金融机构（以下简
称指定的金融机构）代理买卖即期和远期外汇，须经国家外汇管理局或者其分局批准
，但下列两种情况除外：
（一）获准经营外汇业务的专业银行和金融机构以及外商投资企业，对其自有和
自筹的外汇资金，可以自行在国际金融市场买卖即期或者远期外汇，也可以委托指定
的金融机构代理买卖；
（二）前项规定以外的其他客户向中国境内外筹借的现汇和获准接受的捐赠外汇
，经批准在中国境内金融机构开户存储现汇的，可凭其对外签订的贸易合同或者其他
经济协议径行委托指定的金融机构代理买卖即期或者远期外汇。
第五条 买卖即期和远期外汇必须坚持自愿原则。
第六条 指定的金融机构代理客户买卖即期和远期外汇，应当以客户对外签订的
贸易合同或者其他经济协议为依据，但代理经营外汇业务的金融机构和外商投资企业
买卖的除外。
第七条 指定的金融机构受客户委托代办即期和远期外汇买卖时，客户应当提供
履约担保。履约担保可以使用外汇额度抵押，也可以使用现汇预交履约保证金。
使用外汇额度进行抵押担保的，必须同时提供由开户银行出具的等值人民币保函
。
使用外汇额度提前结成现汇预交履约保证金的，仅限于结成美元。
第八条 客户办理远期外汇买卖时，应当按照第六条规定向当地外汇管理部门提
交申请书和贸易合同或者经济协议的副本，经外汇管理部门审核同意后，凭外汇管理
部门的批件委托指定的金融机构代购远期外汇。
第九条 使用外汇额度提前结汇预交履约保证金的，由外汇管理部门在客户开出
的外汇额度支付通知书上签注日期、盖章并扣减用汇指标。同城客户必须在签注之日
后的三个工作日（异地客户在七个工作日）内买成美元存入指定的金融机构的“专项
保证金存款”帐户。
使用外汇额度抵押方式的，外汇管理部门应将客户用于抵押的外汇额度过户到指
定的金融机构的外汇额度帐户。
委托代办期权业务的，只能使用外汇额度抵押担保，但成交时需付的期权保险费
可以提前结成现汇。
第十条 指定的金融机构代办即期和远期外汇买卖时，凡客户使用外汇额度提前
结汇和预交远期外汇买卖履约保证金的，必须通过“专项保证金存款”帐户进行核算
。但客户使用原持有的现汇预交远期外汇买卖履约保证金的，仍通过“存入保证金”
帐户进行核算。
第十一条 进口付汇晚于交割期时，使用外汇额度提前结成现汇的，指定的金融
机构应将交割所得的货币头寸复入“专项保证金存款”帐户暂存；使用原持有的现汇
的，指定的金融机构应将交割所得的货币头寸复存入“存入保证金”帐户。
第十二条 本规定由国家外汇管理局负责解释。
第十三条 本规定自发布之日起施行。(附英文)
PROVISIONS ON ADMINISTRATION OF BUY AND SALE OF SPOT AND
FORWARDFOR
EIGN EXCHANGE BY FINANCIAL INSTITUTES ON CLIENTS' BEHALF


Important Notice: (注意事项)

英文本源自中华人民共和国务院法制局编译, 中国法制出版社出版的《中华人民
共和国涉外法规汇编》(1991年7月版).
当发生歧意时, 应以法律法规颁布单位发布的中文原文为准.
This English document is coming from the "LAWS AND REGULATIONS OF THE
PEOPLE'S REPUBLIC OF CHINA GOVERNING FOREIGN-RELATED MATTERS"
(1991.7)
which is compiled by the Brueau of Legislative Affairs of the State
Council of the People's Republic of China, and is published by the China
Legal System Publishing House.
In case of discrepancy, the original version in Chinese shall prevail.

Whole Document (法规全文)

PROVISIONS ON ADMINISTRATION OF BUY AND SALE OF SPOT AND FORWARD
FOREIGN EXCHANGE BY FINANCIAL INSTITUTES ON CLIENTS' BEHALF
(Approved by the State Council on December 13, 1987, promulgated
by the State Administration of Foreign Exchange Control on March 5, 1988)
Article 1
These Provisions are formulated in order to guard against the risks of
foreign exchange rate, stabilize the costs of import and export trade
(including other foreign economic activities) and develop the businesses
of buy and sale of spot and forward foreign exchange.
Article 2
The Bank of China may be entrusted to buy and sell spot and forward
foreign exchange by departments, organizations, enterprises, institutions

    
and other units (hereinafter referred to as the client) in the territory
of China.
Other financial institutions intending to conduct the businesses mentioned
in the preceding paragraph shall be approved by the State Administration
of Foreign Exchange Control.
Article 3
Buy and Sale of foreign exchange referred to in these Provisions means the
buy and sale conducted among various convertible currencies.
Article 4
The client intending to entrust the Bank of China or other financial
institutions approved by the State Administration of Foreign Exchange
Control (hereinafter referred to as the designated financial agency) on
its behalf to buy and sell spot and forward foreign exchange shall be
approved by the State Administration of Foreign Exchange Control or its
local departments except for the following two situations: 1) Specialized
banks, financial institutions and foreign invested enterprises with
foreign investment with approval to conduct foreign exchange businesses,
for their self-owned or self-raised capitals of foreign exchange, may buy
and sell spot or forward foreign exchange by themselves in the
international financial market or entrust the designated financial
agencies to handle such businesses.
2) Other clients not stipulated in the above paragraph who borrow foreign
exchange in cash within or out of China and receive, with permission,
donated foreign exchange, upon the approval to open cash account of
foreign exchange in financial institutions within China, may entrust the
designated financial agencies to buy and sell on their behalf spot or
forward foreign exchange according to the foreign trade contracts or other
economic agreements.

Article 5
The principle of voluntariness shall be adhered to in the transactions of
buy and sale of spot and forward foreign exchange.
Article 6
The designated financial agency which is entrusted by a client to buy and
sell spot and forward foreign exchange shall base the transaction on the
foreign trade contracts or economic agreements signed by the client, but
transactions entrusted by the financial institutions with approval to
conduct foreign exchange and enterprises with foreign investment are
excepted.
Article 7
When the designated financial agency is entrusted by a client to buy and
sell spot or forward foreign exchange, the client shall provide
performance guarantee. Mortgage of foreign exchange quota or advance
payment of performance bond in cash may be used as the performance
guarantee.
The letter of guarantee for RMB at equal value issued by the deposit bank
shall be simultaneously provided in case the foreign exchange quota is
mortgaged as guarantee. In case the foreign exchange quota is settled
ahead of time into foreign exchange in cash to pay the performance bond in
advance, the settlement is limited to using US dollar.
Article 8
When a client buys and sells forward foreign exchange, application and
copies of trade contracts or other economic agreements shall be submitted
to the local department of foreign exchange control in accordance with the
stipulation of Article 6. After being examined and approved by the
department of foreign exchange control, the client may entrust the
designated financial agency to buy forward foreign exchange by presenting
the approval documents of the department of foreign exchange control.
Article 9
In case the foreign exchange quota is settled ahead of time into foreign
exchange in cash to pay the performance bond in advance, the department of
foreign exchange control shall endorse the payment notice of foreign
exchange quota issued by the client with the date and its stamp and shall
deduct the foreign exchange ration. The client in the same city shall
within 3 working days after the date of the endorsement (7 working days
for the client in a different city) buy US dollars from the quota and
deposit them into the account of "specific guarantee deposit" in the
designated financial agency. In case the foreign exchange quota is
mortgaged, the department of foreign exchange control shall transfer the
foreign exchange quota mortgaged by the client to the account of foreign
exchange quota in the designated financial agency.
In case the option transaction is entrusted by the client, only foreign
exchange quota can be mortgaged as guarantee, but the insurance premium of
option which should be paid upon conclusion of the transaction may be
settled in advance into foreign exchange in cash.

Article 10
When the designated financial agency is entrusted to buy and sell spot and
forward foreign exchange, if the client uses the foreign exchange quota to
settle ahead of time into foreign exchange in cash and pay the performance
bond in advance for the transaction of forward foreign exchange, the
designated financial agency shall check and calculate through the account
of "specific guarantee deposit"; but if the client uses the cash of
foreign exchange originally owned to pay the performances bond in advance
for the transaction of forward foreign exchange, the designated financial
agency shall still check and calculate through the account of "guarantee
deposit".
Article 11
In case the date of import payment is behind the date of delivery, if the
foreign exchange quota is settled ahead of time into foreign exchange in
cash, designated financial agency shall redeposit temporarily the cash
position derived from the delivery into the account of "specific guarantee
deposit"; and if the cash of foreign exchange originally owned is used,
the designated financial agency shall re-deposit the cash position derived
from the delivery into the account of "guarantee deposit"
Article 12
The authority to interpret these Provisions resides in the State
Administration of Foreign Exchange Control.
Article 13
These Provisions shall enter into force as of the date of promulgation.