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1. The main forms of foreign exchange control and banking system are: foreign exchange restrictions, foreign exchange control, foreign exchange bans, foreign exchange control procedures, foreign exchange control examination and approval procedures, foreign exchange control review procedures, foreign exchange control audit procedures, foreign exchange control examination procedures, foreign exchange control examination procedures, etc.
2. The main measures of foreign exchange control are: foreign exchange restrictions, foreign exchange control, foreign exchange bans, foreign exchange control examination and approval procedures, foreign exchange control examination procedures, foreign exchange control audit procedures, foreign exchange control audit procedures, foreign exchange control audit procedures, foreign exchange control audit procedures, Exchange Control Verification Procedures, Exchange Control Review Procedures, Exchange Control Audit Procedures, Exchange Control Review Procedures, Exchange Control Review Procedures, Exchange Control Review Procedures, Exchange Control Audit Procedures, Exchange Control Review Procedures, Exchange Control Review Procedures, Exchange Control Review Procedures, Exchange Control Review Procedures, Exchange Control Review Procedures, Exchange Control Review Procedures, Exchange Control Verification Procedures, etc.
2. The economic impact of foreign exchange controls.
1. Foreign exchange control can effectively control the flow of foreign exchange, prevent the outflow of foreign exchange funds, protect foreign exchange reserves, and maintain economic security.
2. Foreign exchange control can effectively control the fluctuations of the foreign exchange market, stabilize the value of the currency, maintain the stability of the currency, and help maintain economic stability.
3. Foreign exchange control can effectively control the flow of foreign exchange, prevent the abuse of foreign exchange funds, prevent the laundering of foreign exchange funds, and help maintain financial security.
4. Foreign exchange control can effectively control the flow of foreign exchange, prevent the abuse of foreign exchange funds, prevent the laundering of foreign exchange funds, and help maintain financial security.
5. Foreign exchange control can effectively control the flow of foreign exchange, prevent the abuse of foreign exchange funds, and prevent the laundering of foreign exchange funds, which is conducive to maintaining financial security and promoting economic development.
6. Foreign exchange control can effectively control the flow of foreign exchange, prevent the abuse of foreign exchange funds, and prevent the laundering of foreign exchange funds, which is conducive to maintaining financial security, promoting economic development and improving economic competitiveness.
7. Foreign exchange control can effectively control the flow of foreign exchange, prevent the abuse of foreign exchange funds, prevent the laundering of foreign exchange funds, and is conducive to maintaining financial security, promoting economic development, improving economic competitiveness, and promoting the development of international investment and investment.
8. Foreign exchange control can effectively control the flow of foreign exchange, prevent the abuse of foreign exchange funds, prevent the laundering of foreign exchange funds, and help maintain financial security, promote economic development, improve economic competitiveness, promote the development of international investment and promote the stability of the international financial market.
9. Foreign exchange control can effectively control the flow of foreign exchange, prevent the abuse of foreign exchange funds, prevent the laundering of foreign exchange funds, help maintain financial security, promote economic development, improve economic competitiveness, promote the development of international investment and investment, promote the stability of the international financial market, and promote the healthy development of the international monetary system.
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There is a distinction between narrow and broad sense of exchange control. Foreign exchange control in the narrow sense refers to the restriction of a country** on the trading and international settlement of foreign exchange by residents under the current account. Exchange control in a broad sense refers to the restrictive management of activities involving foreign exchange inflows and outflows by residents and non-residents of a country**.
Foreign exchange control is carried out in accordance with the laws of the country, the guidelines and policies promulgated by the country, and various rules and regulations. The enforcer of exchange control is an authorized bank, the Ministry of Finance or other specialized agencies established separately, such as the State Administration of Foreign Exchange. The natural and legal persons targeted by the exchange control are usually divided into residents and non-residents.
Exchange control laws and regulations in various countries are generally stricter for residents and less stringent for non-residents. Exchange controls are subject to foreign banknotes and coinage, foreign currency payment certificates, foreign currency valuables** and **; Some countries also involve **, platinum and diamonds.
The scope of the effectiveness of foreign exchange control regulations is generally limited to the territory of the country. In countries with special zones, certain exchange control regulations may not apply to the special zones. The degree of leniency of exchange controls on different currencies may also vary from country to country.
The activities targeted by the exchange control involve foreign exchange receipts and payments, foreign exchange trading, international borrowing, foreign exchange transfers and uses; the determination of the exchange rate of the country's currency; the convertibility of the country's currency; and cross-border flows of local currencies and **, **. The means of foreign exchange control are varied, which are roughly divided into two types: ** control and quantity control: the former refers to various restrictions on the exchange rate of the local currency, and the latter refers to the control of foreign exchange rationing and foreign exchange settlement.
There are three main ways of foreign exchange control:
1. Quantitative foreign exchange control.
2. Cost-based foreign exchange control.
3. Mixed foreign exchange control.
Legal basis: According to the relevant provisions of the Regulations of the People's Republic of China on Foreign Exchange Administration, China manages the foreign exchange business of financial institutions as follows, and financial institutions must report to the State Administration of Foreign Exchange for approval and obtain a foreign exchange business license; Accounts should be opened for customers and relevant foreign exchange business should be handled in accordance with regulations; The reserve fund for foreign exchange deposits shall be deposited in accordance with the regulations, the regulations on the management of the ratio of foreign exchange assets and liabilities shall be complied with, and the reserve for doubtful debts shall be established; The RMB funds required by the designated foreign exchange banks for foreign exchange settlement business shall use their own funds.
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Legal analysis: 1. Cash receipts and expenditures of more than RMB 50,000 (including 50,000 yuan) and foreign currency equivalent of more than 10,000 US dollars (including 10,000 US dollars) in a single or cumulative transaction on the same day. 2. The payment account of a non-natural person customer has a single or cumulative transaction of more than RMB 2 million (including RMB 2 million) and the equivalent of more than RMB 200,000 (including USD 200,000) in foreign currency with a single or cumulative transaction with other accounts on the same day.
3. The first and remaining domestic funds of a single or cumulative transaction of more than RMB 500,000 (including RMB 500,000) and foreign currency equivalent of more than USD 100,000 (including USD 100,000) between the payment account of a natural person customer and other accounts on the same day. 4. Cross-border fund transfers of more than RMB 200,000 (including RMB 200,000) and foreign currency equivalent of more than USD 10,000 (including USD 10,000) in a single or cumulative transaction between the payment account of a natural person customer and other bank accounts on the same day.
Legal basis: Regulations of the People's Republic of China on Foreign Exchange Administration Article 3 The term "foreign exchange" as used in these Regulations refers to the following means of payment and assets that can be used for international settlement in foreign currencies:
1) Foreign currency cash, including Soqin Kuan banknotes and coinage;
2) Foreign currency payment vouchers or payment instruments, including bills, bank deposit certificates, bank cards, etc.;
3) Foreign currencies have a value**, including bonds, **, etc.;
iv) Special Drawing Rights;
5) Other foreign exchange assets.
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1. Expand domestic commodity production: Restrict the import of foreign commodities through foreign exchange control, promote the export of domestic commodities, and expand domestic commodity production. Restricting the import of large quantities of similar cheap commodities that threaten the existence and development of domestic infant industries through foreign exchange control, and at the same time encouraging the export of domestic products, can enable domestic infant industries to grow rapidly in the domestic market through scale expansion, and promote the upgrading and development of the national economy.
2. Maintain the balance of payments: Limit capital flight and foreign exchange speculation through foreign exchange controls to stabilize the exchange rate and maintain the balance of payments. Maintaining a stable exchange rate is a prerequisite for the development of foreign economy, and balancing the balance of payments is one of the economic policy objectives that any country has always adhered to.
Once the balance of payments deteriorates, the exchange rate of the local currency will lead to capital outflows and exacerbate the balance of payments deficit. The use of foreign exchange controls can limit capital flight and foreign exchange speculation, and achieve the goal of stabilizing the exchange rate and improving the balance of payments.
3. Stabilize domestic prices: stabilize domestic prices through foreign exchange control to avoid the impact on the domestic economy due to changes in the international market. Exchange controls can block the import of international inflation.
International inflation can be introduced into the country through commodities, causing imported inflation, countries with strong currencies often face the impact of foreign capital, through foreign exchange control, restricting the import of commodities and capital inflows, blocking the inflow of international inflation, and maintaining the stability of the domestic price level.
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Are there foreign exchange controls in border countries?
What is the function of Malaysia?
Under the exchange control system, not only the exchange rate is determined by **, but also the supply and demand of foreign exchange are also controlled by **.
Under the currency management system, most countries need to intervene in foreign exchange transactions in some way in order to maintain the stability of the exchange rate. Countries with abundant foreign exchange funds and more developed foreign exchange markets mostly use exchange equalization funds** to maintain the stability of exchange rates; Countries with insufficient foreign exchange funds and immature foreign exchange markets, or countries with weaknesses in the balance of payments, often implement foreign exchange controls.
Exchange control and foreign exchange balance** are both measures to maintain exchange rate stability, but the main reasons why foreign exchange control is implemented instead of foreign exchange balance** can be broadly summarized into the following four items:
1. In terms of promoting the balance of payments and maintaining the stability of the exchange rate, foreign exchange control is easier to achieve than foreign exchange balance.
Second, a number of countries lack the objective economic conditions for the adoption of foreign exchange balances**, such as insufficient foreign exchange funds, the foreign exchange market or financial market is not yet sound, and lack of experience in open market operations.
3. In the case of economic or political unrest, the foreign exchange balance** cannot have a practical effect on capital evasion and the suppression of foreign exchange speculation.
4. During a recession or economic crisis, foreign exchange control measures are used to control the import of foreign goods, promote the export of domestic goods, expand domestic production, and restore economic prosperity.
Under foreign exchange control, residents of a country must, on the one hand, sell their foreign exchange obtained from ** or other sources to the relevant authorities at the official exchange rate set by the authorities; On the other hand, foreign exchange is purchased only within the scope of the purpose and amount recognized or permitted by the administration, at an official exchange rate. At this time, the official exchange rate is usually a single exchange rate, but sometimes a plural exchange rate can also be used. The former is called the Single Exchange Rate System and the latter is called the Multiple Exchange Rate Rat
Why is there no foreign exchange control in Hong Kong?
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