China adjusts balance of Payments Statistics declaration to monitor Cross-border capital flows

China News agency, Beijing, June 8 (Xinhua) The State Administration of foreign exchange (Jia Jingfeng) 8th promulgated the "Operating rules for the payment of balance of payments statistics through financial institutions", including the domestic and non-resident receipts and payments into the foreign-related payments statistics, and raised the limit for the declaration of foreign-related income.　　The move will help strengthen monitoring of Cross-border capital flows, said the foreign administration. The declaration procedures for this release, the original balance of payments Statistics declaration process has made five points adjustment: the domestic residents through the domestic banks and domestic non-residents between the collection and payment of foreign-related receipts and payments into the statistical category; the limit on foreign-related income will be increased from 2000 U.S. dollars to 3000 U.S. dollars; Clear the online declaration process　　, to facilitate the timely declaration of the Declaration, the adjustment of domestic banks of foreign-related receipts and payment of documents submitted and retained requirements, to the overdue declaration of "No declaration, not to pay" special treatment measures. The new statistical Code reflects the principle of convenience and efficiency in the balance of payments declaration, and helps to reduce the management costs of banks and reporting entities, and to improve the timeliness, accuracy and completeness of China's balance of payments Statistics declaration, said the foreign administration. Finish)