It refers to convertible accounts opened by domestic institutions, institutions in China and individuals in banks and non-bank financial institutions approved to conduct business in accordance with relevant account management regulations.
The account is opened in a bank, but the State Administration of Foreign Exchange is the examination and approval authority for opening a foreign exchange account.
Therefore, all domestic institutions must first go to the State Administration of Foreign Exchange for examination and approval to open a foreign exchange account, and open an account at the bank with the “AOA for Foreign Exchange Account under current Account (or capital account)” issued by the SAFE office.
Classification of foreign exchange account: 1. According to the nature of foreign exchange account or the source of foreign exchange funds, it can be divided into and capital account foreign exchange account.
The income of the foreign exchange account under current account comes from the foreign exchange under current account such as trade and service, such as foreign exchange settlement account, temporary collection and payment account, overseas donation account, etc.
Foreign exchange account under current account is divided into unit foreign exchange account under current account and individual foreign exchange settlement account. The income of foreign exchange account under capital account comes from foreign exchange under capital account, such as the capital account of foreign-invested enterprises, foreign debt special account, foreign currency stock special account, etc.
The foreign exchange account of capital account is divided into capital foreign exchange account and foreign debt account.
2. According to the function of the account, it can be divided into two categories: foreign exchange settlement account and special account.
Foreign exchange settlement account, used for frequent settlement of income and expenditure under current account, such as foreign exchange settlement account of Chinese enterprises and foreign investment enterprises.
Special account: an account used for depositing specific foreign exchange income or for specific foreign exchange expenditure, such as overseas donation account, special account for loan repayment, temporary account, etc.
3. According to the form of funds in the account, it can be divided into cash account and account.
4. It is divided into temporary account and long-term account according to the account period.
5 The account can be divided into remote accounts and local accounts by area.
6. According to the currency of the account, it is divided into account, account, account and other freely convertible foreign currency accounts.
The dollar continued to strengthen, gold lost 1,900 to its lowest level in nearly four weeks and oil prices fell more than 3 percent.
Please pay attention to the specific operation, the market is changing rapidly, investment needs to be cautious, the operation strategy is for reference only.
