In terms of providing qualifications, OSA has only four approved banks (Shenzhen Development Bank, China Merchants Bank, Shanghai Pudong Development Bank and Bank of Communications), while almost all banks in NRA can.

In terms of customers, OSA's customers include overseas institutions and individuals, while NRA is only an overseas institution.

In terms of supervision, OSA is the CBRC and NRA is the SAFE.

In terms of appellation, NRA calls it the territory of overseas institutions.

Extended data

Classification of national regulatory agency accounts:

Special foreign exchange accounts for foreign investors in capital projects, including foreign direct investment guarantee accounts, acquisition accounts and upfront expense accounts, must be approved by the foreign exchange bureau;

Foreign exchange accounts with the same nature as the current account settlement accounts of domestic institutions and mainly used in China need to be approved by the foreign exchange bureau to settle foreign exchange or withdraw cash;

Other foreign exchange accounts that do not need to settle foreign exchange or withdraw foreign currency cash are used for domestic and foreign settlement or deposit funds. Due to historical reasons, it is mainly opened in foreign banks and does not need the approval of the foreign exchange bureau.

reference data

NRA account-Baidu encyclopedia

Offshore account-Baidu encyclopedia