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Provisional Measures on the Administration of Shadow Margin Account Scheme Applied on a Pilot Basis to Imported Materials and Parts for Inward Processing
(Promulgated jointly by the Customs General Administration, the Bank of China, the State Planning Commission, the Ministry of Foreign Trade and Economic Cooperation, etc. on November 16, 1995)

Article 1

Article 2

Article 3

Article 4

Article 5

Article 6

Article 7

Article 8

Article 9

Article 10

Article 11

Article 12

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China - Provisional Measures on the Administration of Shadow Margin Account Scheme Applied on a Pilot Basis to Imported Materials and Parts for Inward Processing, 1995

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Provisional Measures on the Administration of Shadow Margin Account Scheme Applied on a Pilot Basis to Imported Materials and Parts for Inward Processing
(Promulgated jointly by the Customs General Administration, the Bank of China, the State Planning Commission, the Ministry of Foreign Trade and Economic Cooperation, etc. on November 16, 1995)

Article 11

Where entities or enterprises engaged in inward processing trade have violated the supervision regulations of the Customs services and have failed to go through the procedures of cancellation of contracts upon verification at the Customs Services within the designated time frame, Bank of China shall not open new shadow margin accounts for these entities or enterprises. When relevant procedures have been completed, import tariffs shall be paid in time for the products to be sold domestically. Where import tariffs have not been paid in time, the Customs Services, taxation departments and banks shall mandate these entities or enterprises to pay the tariffs, or the opening banks of these entities or enterprises shall directly expropriate the deposits of these entities or enterprises into State treasury based on the tariff invoices issued by the Customs Services. Where entities or enterprises are found to be involved in smuggling or other activities in violation of the Customs supervision regulations, the Customs Services shall levy the overdue import tariffs according to relevant regulations afterwards and mete out punishment according to law. The Customs Services shall stop the registration of the inward processing contracts for recordation and foreign economic and trade administrative authorities shall repeal the processing trade rights of these entities or enterprises.


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