Foreign Exchange Bank Accounts
When you plan on sending foreign currency into and out of China, make sure you put funds in the right bank accounts (see Chapter 10 for details). Here are some foreign-exchange accounts you can open and what to use them for:
| ✓ | Current: To pay day-to-day overseas business expenses; to receive revenue from overseas |
| ✓ | Capital: For less-frequent transactions that are usually related to investments, including receiving and holding registered capital |
| ✓ | Loan proceeds (if needed): To receive and hold money received as foreign debt |
| ✓ | Loan repayment (if needed): To repay foreign debt |
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