Regulatory Alerts2003-01-29
Added · Updated
Directions for the Declaration of Medium- and Long-Term External Debts by Private Enterprises
Private enterprises must declare medium- and long-term external debts by submitting the Top Form within 15 days of signing a contract and the Bottom Form by the 10th day of the month following the end of each quarter to report outstanding balances. The regulations define these debts as foreign currency obligations with maturities exceeding one year, including borrowings from foreign financial institutions, buyer's credit, loans from parent companies abroad, and corporate bonds issued abroad. Enterprises must indicate the assigned debt serial number on foreign exchange transaction declarations and separate creditors by category. Funds obtained under special permission for medium- and long-term investment are excluded from the annual foreign exchange aggregate settlement amount, while other declared funds are first counted toward this annual aggregate.
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