cryptohunter
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In China, there are rules about the types of money you can keep in offshore bank accounts. The State Administration of Foreign Exchange (SAFE), part of the big bank in China (PBOC), looks after money going in and out of the country, including offshore accounts.
Usually, offshore bank accounts in China let you keep different foreign currencies. But you have to get approval and follow government rules. The government might say only certain currencies, calledqualified foreign currencies, can be used in offshore transactions.
Commonly, big international currencies like the U.S. Dollar, Euro (EUR), Japanese Yen, and others are okay to have in offshore accounts. The specific currencies you can use might also depend on the type of offshore account and what you're using it for.
Usually, offshore bank accounts in China let you keep different foreign currencies. But you have to get approval and follow government rules. The government might say only certain currencies, calledqualified foreign currencies, can be used in offshore transactions.
Commonly, big international currencies like the U.S. Dollar, Euro (EUR), Japanese Yen, and others are okay to have in offshore accounts. The specific currencies you can use might also depend on the type of offshore account and what you're using it for.
