General foreign investors cannot register foreign trade companies in China, unless they are multinational companies such as Coca-Cola.

Because the registered capital for registering a wholly foreign-owned foreign trade company is too high, at least US$20 million is required.

What you said about the fact that a wholly foreign-owned company cannot directly collect foreign exchange payments means that this company is not a substantial foreign trade company. Any foreign trade company with the qualifications to import and export goods can directly collect foreign exchange payments.