Foreign trade settlement means that banks directly transfer from foreign currency accounts to RMB accounts. We don't need to go through any formalities, do we? Let's take the water fee as an example,

Foreign trade settlement means that banks directly transfer from foreign currency accounts to RMB accounts. We don't need to go through any formalities, do we? Let's take the water fee as an example, shall we? According to the regulations of the State Administration of Foreign Exchange, banks are not allowed to settle foreign exchange for enterprises at will. First, they must enter the account to be verified in the name of the foreign trade company. Second, foreign trade companies must provide the instructions of foreign exchange receipts to banks. Third, the bank can deduct the corresponding foreign exchange receipt online after the foreign trade company receives the instructions and the electronic port card of the foreign trade enterprise. Fourth, banks can settle RMB into foreign trade enterprise accounts and issue foreign exchange verification forms for foreign trade enterprises to refund and write off.