· Document Number：No. 157 [2014] of the General Office of the People's Bank of China

· Area of Law： Negotiable Instruments

· Level of Authority： Departmental Regulatory Documents

· Date issued：07-21-2014

· Effective Date：07-21-2014

· Issuing Authority： People's Bank of China

· Status： Effective

Notice of the General Office of the People's Bank of China on Further Strengthening the Printing and Production Administration of Bank Notes and Vouchers
(No. 157 [2014] of the General Office of the People's Bank of China)
The Shanghai Head Office of the People's Bank of China (“PBC”), all branches and business management departments of the PBC, and all central sub-branches of the PBC in capital cities of provinces (or autonomous regions) and sub-provincial cities; China Development Bank; all policy banks, state-owned commercial banks and joint-stock commercial banks; Postal Savings Bank of China; China Banknote Printing and Minting Corporation; Clearing Center for City Commercial Banks, and Rural Credit Banks Funds Clearing Center:
The Measures for the Printing and Production Administration of Bank Notes and Vouchers (No. 91 [2013], PBC) has come into force for more than one year, due to the deliberate organization and close coordination of all sides, the work of printing and production administration of bank notes and vouchers has been carried out smoothly. For purposes of further enhancing the service level of printing and production of bank notes and vouchers and effectively completing the subscription for bank notes and vouchers, you are hereby notified of the issues on printing, production, of and subscriptionfor bank notes and vouchers as follows:
I. Strengthening the printing, production, and subscription administration of bank notes and vouchers
China Banknote Printing and Minting Corporation shall effectively strengthen the administration of the printing and production qualifications and the printing scope of the banknotes and vouchers printing and production enterprises, scientifically develop the assessment criteria for ban notes and vouchers printing and production enterprises and strictly implement them, effectively collect and assess information on production, delivery, and other services of ban notes and vouchers printing and production enterprises, and resolve the problems of banknotes and vouchers printing and production enterprises in production, delivery, and other respects in a timely manner; may, according to the product quality and service level of all banknotes and vouchers printing and production enterprises, give comprehensive consideration to the status of demand and supply in all regions and the actual needs of all ordering entities, and rationally adjust the production, delivery, and other respects in relation to the banknotes and vouchers; and on the basis of fully soliciting opinions of the ordering entities and in combination with the needs of all ordering entities, constantly improve and optimize the functions of the banknotes and vouchers printing and production administration information system, and meet the needs of all ordering entities in a more effective manner.
To adjust the printing and production scope, subscription for, production, delivery, settlement, and other relevant issues of bank notes and vouchers, China Banknote Printing and Minting Corporation shall notify all ordering entities and banknotes and vouchers printing and production enterprises in a timely manner, send a copy to the PBC, and effectively complete the work of communication with and interpretation for ordering entities; and strengthen security administration, organize check and on-site supervision and destroy by melting or burning of goods and materials subject to strict control involved, and supervise the production and delivery of banknotes and vouchers whose printing has been undertaken by banknotes and vouchers printing and production enterprises prior to the adjustment. Relevant ordering entities involved in the adjustment to the printing and production of banknotes and vouchers shall, in light of their reality, rationally conduct rough estimate of the amount of banknotes and vouchers, and coordinate with banknotes and vouchers printing and production enterprises in appropriate and effective completion of the subscription for and delivery of banknotes and vouchers. Branches of the PBC in relevant regions shall effectively conduct organization and coordination.
II. Strictly reviewing the information on the subscription for banknotes and vouchers
All ordering entities shall further strengthen the reporting of the information on the subscription for banknotes and vouchers, ensure the accuracy and seriousness of the subscription information, and avoid mistaken reporting of the categories of notes and bank codes, revocation of order before printing, subscription before the plate making application is approved, and other problems. Local branches of the PBC at or above the level of a central sub-branch of a sub-provincial city, head offices of national banking financial institutions, Clearing Center for City Commercial Banks, and Rural Credit Banks Funds Clearing Center shall effectively examine the information on subscription by ordering entities, and particularly strengthen the examination and confirmation of the subscription qualifications of ordering entities.
III. Adjustment to the subscription prices of banknotes and vouchers
When the 2010 version banknotes and vouchers were launched, the enhanced anti-counterfeit technology led to increase of printing and production costs of banknotes and vouchers in a great extent, which resulted in difference in price between the actual printing and production costs of printing and production enterprises and the government-fixed pricing implemented by banking financial institutions in sale of banknotes and vouchers to clients. The difference in price shall be shared by the printing and production enterprises and banking financial institutions. The PBC has accordingly determined the charging standards for production costs of banknotes and vouchers sold by banknotes and vouchers printing and production enterprises to banking financial institutions. In February 2014, the National Development and Reform Commission and the China Banking Regulatory Commission jointly issued the Notice on Issuing the Catalogue of Government-Guided Pricing and Government-Fixed Pricing for Services Provided by Commercial Banks (No. 268 [2014], NDRC), and determined the charging standards for production costs of banknotes and vouchers to be collected by commercial banks from clients with reference to the actual printing and production costs of the 2010 version banknotes and vouchers. As the difference in price between the actual printing and production costs of banknotes and vouchers printing and production enterprises and the government-fixed prices implemented by banking financial institutions in sale of banknotes and vouchers to clients no longer exists, the charging standards for production costs of bank notes and vouchers sold by bank notes and vouchers printing and production enterprises to banking financial institutions shall be accordingly increased. The PBC decides that from August 1, 2014 the relevant provisions on the charging standards for production costs of banknotes and vouchers sold by banknotes and vouchers printing and production enterprises to banking financial institutions as prescribed in the Notice of the People's Bank of China on Launching the 2010 Version Banknotes and Vouchers (No. 299 [2010], PBC) shall no longer be implemented and the aforesaid charging standards shall be adjusted to: 0.4 yuan per check, and 0.48 yuan per banknote and bank draft; pricing of commercial draft is fixed with reference to that of bank draft: 0.48 yuan per draft. To avoid confusion of the previous and new prices, all ordering entities shall, conduct consultations with China Banknote Printing and Minting Corporation as soon as possible, complete reception of goods and settlement of the payment for the banknotes and vouchers that have been ordered previously and temporarily kept in banknotes and vouchers printing and production enterprises.
Local branches of the PBC at or above the level of a central sub-branch of a sub-provincial city shall forward this Notice to all banking financial institutions within their jurisdictions.
Contact and phone number: Hao Yahong, 010-66195365
General Office of the People's Bank of China
July 21, 2014