Yes. For example, when paying wages, the money from the basic account is transferred to a private account.

According to Article 17 of the "Law of the People's Republic of China on Tax Collection and Administration": Taxpayers engaged in production and business operations shall, in accordance with relevant national regulations, hold tax registration certificates at banks or other financial institutions. Institutions open basic deposit accounts and other deposit accounts and report all their account numbers to the tax authorities.

The basic account is the main account for transfer settlement and cash collection and payment. Daily fund collection and payment for business activities, as well as salary, bonus and cash withdrawals can be handled through this account.

Extended information

Article 48 of the "Law of the People's Republic of China on Commercial Banks" stipulates: "Enterprises and institutions may independently choose the business premises of a commercial bank to open a bank. Basic accounts for daily transfer settlement and cash receipts and payments are not allowed to open more than two basic accounts.”

In areas where the establishment of basic deposit accounts has been basically completed and an account opening license has been issued, the People’s Bank of China shall issue an announcement. It is stipulated that from the determined date, any account that has not been issued a basic deposit account opening license shall not be used as a basic deposit account.

According to the provisions of the "Bank Account Management Measures", the deposit accounts of enterprises and institutions are divided into basic deposit accounts, general deposit accounts, temporary deposit accounts and special deposit accounts.

Baidu Encyclopedia-Basic Account