Law of the People’s Republic of China on Immunity of the Property of Foreign Central Banks from Compulsory Judicial Measures

(Adopted at the 18th session of the Standing Committee of the Tenth National People's Congress of the People's Republic of China on October 25, 2005) 

Order of the President (No. 41 [2005]) 

The Law of the People's Republic of China on Immunity of the Property of Foreign Central Banks form Compulsory Judicial Measures, which was adopted at the 18th session of the Standing Committee of the Tenth National People's Congress of the People's Republic of China on October 25, 2005, are hereby promulgated and shall come into force as of the date of promulgation.

Hu Jintao, President of the People's Republic of China

October 25, 2005

Article 1 The People's Republic of China will grant to foreign central banks the immunity of judicial compulsory measures of preservation and execution to their properties of foreign central banks, unless the foreign central banks or the governments of the countries to which the foreign central banks belong abandon this immunity in written form, or those properties are specially used for preservation and execution.

Article 2 The term “foreign central banks” as mentioned in these Measures refers to the central banks of foreign countries and regional economic integration organizations, or those financial administrative organs performing the functions of central banks. The term “properties of foreign central banks” as mentioned in these Measures refers to the cash, bills, bank deposits, securities, foreign exchange reserves and gold reserves, as well as real estates and other properties of foreign central banks.

Article 3 Where any foreign country does not grant the immunity to the properties of the central bank of the People's Republic of China or the properties of financial administrative organs of special administrative regions of the People's Republic of China, or grants an immunity which is lower than that as prescribed in this Law, the People's Republic of China shall handle it according to the principle of reciprocity.

Article 4 This Law shall come into force as of the date of promulgation.