Foreign exchange is the creditor's right that can be used when the balance of payments deficit is maintained by the monetary administrative authorities (banks, monetary management institutions, foreign exchange stabilization funds and the Ministry of Finance) in the form of bank deposits, treasury bills of the Ministry of Finance, short-term government securities, etc.
Including foreign currency, foreign currency deposits, foreign currency securities (government bonds, treasury bills, corporate bonds, stocks, etc.), foreign currency payment certificates (bank deposit certificates, postal savings certificates, etc.).
If foreign exchange transactions are conducted without authorization, the rights and interests of both parties to the transaction are not protected by law. Organizing and participating in such transactions are illegal foreign exchange businesses and private foreign exchange transactions.
According to the provisions of Article 45 of the Regulations on Foreign Exchange Control, those who buy or sell foreign exchange without authorization, in disguised form, profiteering, or illegally introduce a large amount of foreign exchange, shall be given a warning, confiscated of illegal income, and imposed a fine of less than 30 illegal amounts by the foreign exchange administration agencies; If the circumstances are serious, a fine of not less than 30 but not more than the equivalent of the illegal amount shall be imposed; If a crime is constituted, criminal responsibility shall be investigated according to law.
Article 45 of the Regulations of the People's Republic of China on Foreign Exchange Control
Those who buy or sell foreign exchange without authorization, in disguised form, profiteering or illegally introducing a large amount of foreign exchange, shall be given a warning, confiscated of their illegal income and fined not more than 30% of the illegal amount; If the circumstances are serious, a fine of not less than 30 but not more than the equivalent of the illegal amount shall be imposed; If a crime is constituted, criminal responsibility shall be investigated according to law.