Why can't the first-class card of China Bank deposit foreign exchange?
There is no counterpart service. Foreign exchange is the creditor's right that the monetary authorities can use when the balance of payments is in deficit, and its forms include bank deposits, securities of the Ministry of Finance, long-term and short-term government securities, etc. The first-class card of China Bank can't deposit foreign exchange because there is no counterpart service. China Bank was established in Shanghai on 19 12 with the approval of Dr. Sun Yat-sen, and it is one of the oldest banks in China.