Introduction
Purchase from foreign exchange means that the client sells his convertible foreign exchange income to the bank and obtains RMB of equivalent value according to the listed bid rate of the foreign exchange in return.
Sale of foreign exchange refers to the bank sells foreign exchange to the client and gets RMB of equivalent value according to the listed offer rate of the foreign exchange in return.
Payment in Foreign exchange means that the bank transfers out foreign exchange from the client's FX deposit account, according to the means, amount and time given in the contract or agreement provided by the client, to settle the client's international trade.
Features
The service scope is determined by the Regulations on Purchase and Sale of and Payment in Foreign Exchange and relevant rules issued by the PBOC.