English translation: Verification and Write-off of relevant amount of foreign exchange
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GLOSSARY ENTRY (DERIVED FROM QUESTION BELOW)
Chinese term or phrase:
Verification and Write-off of relevant amount of foreign exchange
in this context, the quota is updated but not cancelled, or the Chinese company in question cannot do foreign trade anymore.
"核销" is simple accounting term meaning "writeoff", "offset", or "update" depending on the situation (remember, Chinese is a very ambiguous language). The Chinese companies are subject to forex quota at banks, which is due to rules of SAFE for forex administration. Such quota limits the amount of foreign currency a Chinese company is eligible to use. The banks monitor such quota, and therefore will book every transaction to ensure an updated balance.
Just read between the lines
fortune9001 Local time: 06:36 Specializes in field PRO pts in category: 14