Legal analysis: branches can have independent accounts. Branches are usually unincorporated entities. According to management needs, they can set up separate accounts or conduct separate economic exchanges. The head office can manage the account according to regulations, or it can require the branch account not to withdraw cash through administrative requirements. Because the branch is a branch, it has no independence in law and economy, but is a subsidiary of the head office. Moreover, the branch does not have its own name, articles of association and property, and it is legally liable for the debts of the branch with the assets of the head office.
Legal basis: Branch companies can be established in Article 14 of People's Republic of China (PRC) Company Law. The establishment of a branch company shall apply to the company registration authority for registration and obtain a business license. A branch company does not have legal person status, and its civil liability shall be borne by the company. A company may set up subsidiaries, which have legal personality and independently bear civil liabilities according to law.