Agency Forex Settlement and Sale

　　Definition

　　Agency forex settlement and sale is Hua Xia Bank's service for exchange between RMB and the freely convertible currencies on behalf of the customers.

　　Applicable Clients

　　Hua Xia Bank's individual customers, corporate customers, and institutional customers

　　Functions and Advantages

　　According to the foreign exchange administrative rules and the customer requirements, Hua Xia Bank converts foreign currency into RMB of equivalent value or vice versa.

　　Service Flows

　　1. Domestic companies, institutions, government departments, non-government groups, and individual customers qualified in Provisions for the Control of Foreign Exchange Settlements, Sales and Payments may file for such service with valid documents. The customers are normally expected to open foreign currency accounts or RMB accounts at Hua Xia Bank.

　　2. Present the relevant documents and deposit the income denominated in foreign currency or RMB for foreign exchange into the designated Hua Xia Bank account.

　　3. After the bank examines the documents, the bank institutes exchange between the foreign currency and RMB according to the current days forex quotation and delivers the currencies upon value date.

Capital Fund Currency Settlement under Foreign Investment Account

　　To further improve the environment for foreign investment, create convenience for the operation of corporate investment funds, the State Administration of Foreign Exchange authorized some branches of Hua Xia Bank for proprietary examination and acceptance of capital fund currency settlement under foreign investment account. The customers are no longer required to file for approval at the State Administration of Foreign Exchange.

　　Applicable Clients

　　The customer is required to open capital account at Hua Xia Bank. The said account is applicable for capital currency settlement for foreign-invested companies or foreign investment of the same nature. The settled RMB fund may be used directly for items such as trade payment, lease, land use right acquisition, project payment, wage and salary, and other sundry expenditures.

　　The service is currently limited to Shenzhen Branch only