CIRCULAR OF THE STATE COUNCIL FOR APPROVING AND TRANSMITTING THEREPORT SUBMITTED BY THE PEOPLE'S BANK OF CHINA REQUESTING INSTRUCTIONS ONSTRENGTHENING THE ADMINISTRATION OF THE ISSUANCE OF GOLD AND SILVER COINS(OR BADGES) FOR SALES TO F

CIRCULAR OF THE STATE COUNCIL FOR APPROVING AND TRANSMITTING THEREPORT SUBMITTED BY THE PEOPLE'S BANK OF CHINA REQUESTING INSTRUCTIONS ONSTRENGTHENING THE ADMINISTRATION OF THE ISSUANCE OF GOLD AND SILVER COINS(OR BADGES) FOR SALES TO F OREIGN COUNTRIES 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 CIRCULAR OF THE STATE COUNCIL FOR APPROVING AND TRANSMITTING THE REPORT SUBMITTED BY THE PEOPLE'S BANK OF CHINA REQUESTING INSTRUCTIONS ON STRENGTHENING THE ADMINISTRATION OF THE ISSUANCE OF GOLD AND SILVER COINS (OR BADGES) FOR SALES TO FOREIGN COUNTRIES (October 22, 1979) The State Council has approved the Report Requesting Instructions on Strengthening the Administration of the Issuance of Gold and Silver Coins (or Badges) for Sales to Foreign Countries, which was submitted by the People's Bank of China, and hereby transmits it to you for implementation.

Report Requesting Instructions on Strengthening the Administration of the Issuance of Gold and Silver Coins (or Badges) for Sales to Foreign Countries (Excerpts) The following suggestions are put forward with a view to strengthening currency control and control of gold and silver and maintaining China's reputation in issuing commemorative coins (or souvenir badges): 1. The People's Bank of China shall be exclusively responsible for the designing, manufacture and issuance of gold and silver commemorative coins. No other departments or units shall be permitted to mint or issue such coins (including coins made of other substances).

2. The Bank of China (and its branches abroad) shall be exclusively responsible for the distribution of gold and silver commemorative coins (or souvenir badges) to foreign countries in order to facilitate the unified control of foreign exchange revenues.

3. Gold and silver souvenir badges shall be exclusively manufactured by the China Coin-Minting Corporation affiliated to the People's Bank of China. Units that need to have gold (or silver) badges made may approach and consult with the China Coin-Minting Corporation. Measures for the sharing of profit in foreign exchange earned from selling gold and silver badges shall be submitted to the State Planning Commission for approval and be implemented accordingly.

Notes: , With respect to the business operations in gold and silver souvenir badges, the relevant provisions in Document (82) Jin Chu (Chu) Zi No. 44 issued by the former State Import and Export Commission shall prevail instead. - The Editor Coins (or Badges) for Sales to Foreign Countries, which was submitted by the People's Bank of China, and hereby transmits it to you for implementation.

Report Requesting Instructions on Strengthening the Administration of the Issuance of Gold and Silver Coins (or Badges) for Sales to Foreign Countries (Excerpts) The following suggestions are put forward with a view to strengthening currency control and control of gold and silver and maintaining China's reputation in issuing commemorative coins (or souvenir badges): 1. The People's Bank of China shall be exclusively responsible for the designing, manufacture and issuance of gold and silver commemorative coins. No other departments or units shall be permitted to mint or issue such coins (including coins made of other substances).

2. The Bank of China (and its branches abroad) shall be exclusively responsible for the distribution of gold and silver commemorative coins (or souvenir badges) to foreign countries in order to facilitate the unified control of foreign exchange revenues.

3. Gold and silver souvenir badges shall be exclusively manufactured by the China Coin-Minting Corporation affiliated to the People's Bank of China. Units that need to have gold (or silver) badges made may approach and consult with the China Coin-Minting Corporation. Measures for the sharing of profit in foreign exchange earned from selling gold and silver badges shall be submitted to the State Planning Commission for approval and be implemented accordingly.

Notes: , With respect to the business operations in gold and silver souvenir badges, the relevant provisions in Document (82) Jin Chu (Chu) Zi No. 44 issued by the former State Import and Export Commission shall prevail instead. - The Editor