Foreign exchange accounts refer to freely convertible currency accounts opened by domestic institutions, domestic institutions and individuals in banks and non-bank financial institutions that are allowed to engage in foreign exchange deposit business in accordance with relevant account management regulations. Accounts other than the current account that need the approval of the State Administration of Foreign Exchange include foreign exchange settlement accounts and special foreign exchange accounts. Chinese-funded enterprises that meet the prescribed conditions may apply to the foreign exchange bureau to open a foreign exchange settlement account with a designated Chinese-funded foreign exchange bank and reserve a certain amount of foreign exchange.

Special foreign exchange accounts include: import agents, special trade projects, contracted labor services, donation assistance, special agents, international freight, international remittances, international travel agencies, duty-free goods and temporary receipts to be paid, and foreign exchange accounts to be opened overseas for contracted labor services.

Classification of foreign exchange account: 1. According to the nature of accounts or sources of foreign exchange funds, it can be divided into current account foreign exchange accounts and capital account foreign exchange accounts; 2. According to the function of the account, it can be divided into foreign exchange settlement account and special account; 3. Accounts can be divided into cash accounts and cash accounts according to the form of funds.

4. According to the account opening period, it can be divided into temporary accounts and long-term accounts; 5. According to the account opening area, it can be divided into off-site accounts and local accounts; 6. Account currency can be divided into US dollar account, Hong Kong dollar account and Japanese yen account.