2. offshore account (OSA) Only China Merchants Bank, Shanghai Pudong Development Bank, Bank of Communications and Ping An Bank can open OSA accounts in the offshore departments of these four banks.
3. Non-resident accounts of overseas institutions, hereinafter referred to as NRA. In 2009, the State Administration of Foreign Exchange issued the Notice on Issues Concerning the Management of Domestic Foreign Exchange Accounts of Overseas Institutions. Domestic Chinese and foreign banks can open foreign exchange accounts (foreign currency NRA accounts) for overseas institutions.
These three accounts are opened in different places, which are three completely different financial systems, and the accounts are completely different.
Summary:
The FTN account is weak. Although OSA is good, it is not allowed. NRA is suitable for DP and L/C, while others are eliminated. It is recommended to use self-employed individuals and PANPAY to collect money.
The disadvantage of TN is that every payment must be submitted to Shanghai, which is inconvenient to use. Entry and transfer must go to the counter to submit a contract or invoice declaration. NRA is a good choice when OSA accounts and Hong Kong accounts are generally difficult to open.