|: Product Introduction |
|Source text - Undetermined|
|Translation - Finnish|
 In case an auto financing company is a wholly foreign owned or Sino-foreign joint venture company, it may apply for opening foreign exchange capital account in a designated foreign bank within China upon the strength of the following documents and materials at the branches and sub-branches of the SAFE at its locality (hereinafter referred to as the "foreign exchange bureau"):
⑵ Written application for opening accounts (including the basic information of the company, the opening bank, and other contents);
⑶ The reply document of China Banking Regulatory Commission for approving its preparation for the establishment;
⑷The pre-approval notice on the name of the company issued by the State Administrative Department for Industry and Commerce;
⑸ Other documents and materials that should be provided under the requirements of the foreign exchange bureau.
⑹A Sino-foreign joint venture auto financing company shall also provide the joint venture agreement or contract of the Chinese and foreign party when applying for opening foreign exchange capital account and an auto financing company shall put on archives the relevant conditions on opening the account at the foreign exchange bureau within 5 workdays after opening the foreign exchange capital account.
⑺ The number of foreign exchange capital accounts opened by any auto financing company may not exceed three.
⑻ The income scope of capital accounts of an auto financing company shall be the registered capital remitted inward by foreign investors, and the outlay scope shall be bank deposits, foreign payment under current account, and other foreign exchange outlay approved by the foreign exchange bureau. Where an auto financing company that has opened capital account does not get the reply of approval of China Banking Regulatory Commission for opening business after the expiry of preparation for establishment, the group of preparation for the establishment may apply to the foreign exchange bureau for remitting out of the territory the capital remained in the account and close the foreign exchange capital account.