A domestic institution (excluding a financial institution) that meets the requirements of the State Administration of Foreign Exchange in accordance with one of the following conditions may apply to the local State Administration of Foreign Exchange and its branch office (referred to as the foreign exchange bureau) to open a current account foreign exchange account. Then, how can a company open a foreign exchange account? ? (1) When the account opening unit handles the account collection and payment, it must issue the “Foreign Exchange Account Use Certificate” to the bank. The account bank's account receivable and payment scope stipulated in the "Foreign Exchange Account Use Certificate" is the account-receiving business of the account-opening unit. Any account opening institution and bank that has opened an account shall not use the account beyond the scope without the approval of the foreign exchange bureau. (2) The account opening unit shall use the account in accordance with the provisions on the maximum limit of the account, the period of use, and the method of settlement of foreign exchange in the “Opening Foreign Exchange Account Approval Form” and “Foreign Exchange Account Use Certificate”, and shall not use the account beyond the scope and overdue period. For accounts that need to be settled netly, the account opening unit should handle the settlement in time. Accounts that need to be postponed due to project progress should be applied to the SAFE in advance and may not be postponed without approval. (3) The foreign exchange account approved for opening must participate in the annual inspection. The account opening unit shall comply with the “Regulations on the Annual Inspection of Current Account Foreign Exchange Accounts of Chinese Enterprises in Domestic Institutions” and relevant supplementary regulations. The annual inspection time is from January to April of each year. The specific inspection of the account is carried out by an accounting firm entrusted by the account opening unit. The foreign exchange bureau approves a list of designated accounting firms once a year and announces them to the account opening unit. The account opening unit chooses the accounting firm to conduct an annual inspection of its account. The restriction on the capital account is that the account accumulation cannot exceed the total foreign investment or the total external borrowing.