I.Basic Process

Standard settlement procedures contain 5 key steps: Agency agreement signing → Foreign exchange income declaration → Bank account transfer → Currency exchange operation → Final settlement clearingAccording to the latest requirements of the State Administration of Foreign Exchange in 2025,Enterprises are required to complete electronic declarations through the "Single Window for International Trade," while traditional trading companies still maintain a dual filing mechanism of paper customs declarations plus electronic data.

II.What documents are required for agency settlement?

• Basicqualificationdocuments:
  • Originalexportagencyagreement
  • Enterpriseforeignexchangeaccountfilingform
  • Customsexportgoodsdeclarationform
• Transaction supporting documents:
  • PowerofAttorneyforApplicationof(CO)
  • CommercialInvoice
  • Shippingdocuments(B/LorAWB)

III.What new changes will there be in foreign exchange control in 2025?

According to the "Administrative Measures for Cross-border RMB Business" issued by the People’s Bank of China in December 2024,the main policy adjustments in 2025 include:

• Singletransactionsbelow$500,000Auditprocesscanbesimplified
• Cross-bordere-commerceforeignexchangesettlementquotaincreasedto$5millionannually
• Newdigitalcurrencysettlementpilotchannel(specialapplicationrequired)
• Declarationandforeignexchangeverificationimplementdatalinkagemechanism

How to avoid capital risks during foreign exchange settlement?

Recommended three-tier risk control measures:

• Pre-eventprevention:SignagencyagreementscontainingExchangeRateLock-inClauseagencyagreements
• In-processmonitoring:RequiretheagenttoprovideBankreceiptslipReal-timeverification
• Post-shipmenttraceability:EstablishaFundflowtrackingsystem,maintaincompletefundchainevidence

What to do when encountering delayed foreign exchange receipts?

Recommended troubleshooting steps:

• Within72hours:VerifyaccuracyofSWIFTmessageinformation
• ProductionSupervision:Requireagenttoprovidebankprocessingvouchers
• Over1weekwithoutreceipt:Initiateabnormalsituationreportingprocedure,submitexplanatorydocumentstoSAFE

What key points to note when selecting agency institutions?

• InspectionSAFEregistrationandfilingcertificate
• Confirmtheagentpossessescross-borderRMBsettlementqualification
• Verifypastthreeyearsforeignexchangecomplianceoperationrecords
• PrioritygiventoprovidersofferingexchangeratehedgingservicesInstitution

(Note: The policy basis mentioned in this article is current as of March 2025.Please refer to the latest foreign exchange management regulations for actual operations.It is recommended to consult a professional trade lawyer or foreign exchange management consultant before major transactions.)