Due to foreign exchange control, settlement in RMB is currently not possible, there are problems with write-offs, and there are also problems with external foreign exchange payments.
China currently does not allow wholly foreign-owned enterprises to establish pure trading enterprises, but they can be established in bonded zones and obtain the rights of general taxpayers, have RMB accounts, and can issue value-added tax invoices. In fact, they already have The right to engage in pure trade activities domestically is the domestic trade function of the bonded zone. At present, domestic trading companies cannot engage in re-export trade, but enterprises in the bonded zone have foreign currency spot accounts and can engage in trade activities for goods settled in foreign currencies. In fact, they have the function of international re-export trade.
The bonded zone is a new economic zone established with the approval of the State Council in China after the special economic zones, economic and technological development zones, and national high-tech industrial development zones. Since the bonded zone operates in accordance with international practices and implements more flexible and preferential policies than other open areas, it has become a "bridgehead" for China to integrate with the international market. Therefore, the bonded zone has become the focus of close attention from domestic and foreign merchants since the beginning of its development and construction. The bonded zone has functions such as import and export processing, international trade, and bonded warehousing commodity display. It enjoys the policy of "license-free, tax-free, and bonded" and implements the "domestic customs outbound" operation mode. It is China's highest degree of openness to the outside world, the most convenient operating mechanism, and the most favorable policies. one of the economic regions.