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Corporate Banking

Corporate FX Account Services

Introduction

Corporate FX account services mean that our bank opens time and current deposit accounts of listed convertible FX in our bank for enterprises and handles daily receipt and payment of funds, FX transfer, account balance inquiries and reconciliation, and other integrated services.


Scope of application

Corporate FX accounts are applicable to domestic institutions and foreign agencies in China and other units that are approved by the International Administration of Foreign Exchange.


Features

To help enterprises to go through the approval procedures for account opening and complete changes in the account user name, currency and limit in the administration of foreign exchange in a timely manner:

1. Current FX accounts are applicable to corporate trade and non-trade international FX settlement and domestic transfer accounting;

2. Capital fund accounts are applicable to the receipt and payment of overseas investment capital of foreign-owned enterprises or joint ventures, such as funding, capital increase, FX settlement, purchase of equipment and house property and raw materials etc., until the capital funds are used up and the account is canceled; and the expenditure is used under the loan agreement;

3. Enterprises open a special FX loan account after obtaining approval of FX loans from our bank; and transfer and repayment need no approval.3


Procedures

1. The flow of opening a current FX account:

The domestic institutions that meet the following requirements can apply for the opening of a current FX account: having foreign-related managerial authority or current FX income after the approval by or registration in the competent management department; having FX income with special sources and for special purposes, such as donations, aid, international postal exchange, and so on.

· Registering basic information in the administration of foreign exchange in the place where the account is opened

· Opening the account in our bank, and submitting (i) the applicant's application for opening the bank account, (ii) the original and copy of the organization code certificate, (iii) the original and copy of the supporting documents of the unit's establishment and operation after approval by the competent department, and (iv) other relevant information:

2. The flow of opening an FX account of capital items (not including B-share trading accounts):

· To obtain the approval of opening an FX account from the administration of foreign exchange in the place where the account is opened;

· To open the account in our bank, and submit the Foreign Exchange Business Approval Document of Capital Items by the State Administration of Foreign Exchange that is issued by the administration of foreign exchange, the original and copy of the supporting documents of the unit's establishment and operation after approval by the competent department, the original and copy of the organization code certificate, and other related information;

3. The flow of opening a special FX loan account:

To open the account in our bank, and submit (i) the application for opening the account, (ii) the permit of opening a basic account (copy), and (iii) other relevant information.


(Note: For details, please call 961 111 or come to the nearby GRCB outlet.)

Call Centre 961111 Micro Loans Services

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