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Provisional Regulations on Providing Loans for Cap
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1979.08.28
STATE COUNCIL OF CHINA
 PROVISIONAL REGULATIONS ON PROVIDING LOANS FOR CAPITAL CONSTRUCTION
PROJECTS
(Approved for Transmission by the State Council August 28, 1979)
CONTENTS
CHAPTER I THE LENDING INSTITUTION
CHAPTER II  THE ELIGIBLE BORROWERS AND THE PURPOSES FOR WHICH THE
LOANS ARE TO BE USED
CHAPTER III PREREQUISITES FOR BORROWING
CHAPTER IV APPLICATION, EXAMINATION AND APPROVAL OF THE LOAN
CHAPTER V REPAYMENT AND SUPERVISION OF THE LOAN
CHAPTER VI REPAYMENT OF THE LOAN
CHAPTER VII SUPPLEMENTARY REGULATIONS
  For  the  purpose  of  speeding  up  socialist  modernization,
upgrading the financial  management  of  capital construction and
making the most of the investment capital,provisional regulations
are  hereby  issued to provide loans for some capital construction
projects.
CHAPTER I THE LENDING INSTITUTION
 @@  Article  1. The institution authorized to grant loans for
capital construction  projects  is  the  People's Construction
Bank of China (hereinafter called the Construction Bank).
 CHAPTER  II  THE ELIGIBLE BORROWERS AND THE PURPOSES FOR WHICH THE
LOANS ARE TO BE USED
 @@  Article  2.  The  Construction  Bank shall grant loans for
investment capital  to  enterprises engaged in industry, transport,
land reclamation, animal  husbandry,  marine  products, commerce,
tourism,  etc.  who  have instituted an independent accounting system
and are able to repay the loans.
 Investment  capital  required  by  government  organizations and
non-profit institutions and for construction projects specified in
the state plans shall be allocated by the Ministry of Finance.
 @@  Article  3. The borrower must be an independent entity who
assumes economic  responsibility  for production. Where loans are
to be used for renovations or extension of existing plants, it is
the responsibility of the  existing enterprise to apply for and
repay  the loans; in case of establishing a new enterprise, it is the
responsibility of the preparatory organ who will be in charge of
production  after  the  project  is in operation. If the borrower
has  been incorporated into a specialized or regional enterprise, it
is the responsibility of that specialized or regional enterprise.
CHAPTER III PREREQUISITES FOR BORROWING
 @@  Article  4.  Before  a project is financed by the Construction
Bank, the borrower shall submit a target plan duly approved by
the  competent authorities  and  a preliminary design of the project
that has been included in the state plans for capital construction for
the current year.
 The  planning  commissions  at all levels and the departments in
charge must invite the Construction Bank to join them in examining
and approving the target  plan for the project and in deciding on
the  current-year  plan  for capital  construction.  The  capital
construction commissions at all levels and the departments in charge
must do likewise when examining and approving the preliminary design of
the project.
 When  approved,a  copy  each  of the target plan, the preliminary
design and the current-year plan for capital construction shall be
provided to the head office of the Construction Bank or its branch,
whichever is involved in the financing.
 @@  Article  5.  The projects must meet the following conditions
before they are financed:
 (1)  The  production technique is up to standard and the products
in good demand;
 (2)  Factors of production such as raw materials, fuel, power, water
supply, transport are in place and ready to be used;
 (3)  An  acceptable estimate of the time it takes to generate enough
returns to  pay for the investment, and an assurance that repayment of
the loan will be made when due;
 (4)  The  construction  site, equipment, materials and construction
manpower have been duly arranged.
CHAPTER IV APPLICATION, EXAMINATION AND APPROVAL OF THE LOAN
 @@  Article  6.  After  the  approval  of  the target plan, the
borrower may submit a preliminary application to the Construction
Bank  who  shall, if agreeable,  sign  an  agreement  with  the
borrower.  Funds  needed for the preparatory stage before the start
of the project may be borrowed from the Construction Bank, if the
department in charge stands surety for the borrower.
 @@  Article  7.  After the preliminary design is approved, the
borrower will ask the department in charge to include the project
in  the  current-year  plan   for  capital  construction  and
simultaneously  submit  a  formal application to the Construction
Bank with supportive documents such as an estimate of the total cost
for the preliminary design duly approved by the authorities higher up,
a  yearly construction plan and an agreement signed 

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