Agency Service for Authorized Payments by the Central Fiscal Authority
The Agency Service for Authorized Payments by the Central Fiscal Authority is a financial service where ABC, as the agent bank, makes payment through the single account system of the Treasury directly to the payee account (the goods or services provider) within the limit approved by the Ministry of Finance ("MOF"), upon receiving the payment instructions from the budgetary unit as duly authorized by the MOF.
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Agency Direct Payment for Fiscal Authority
The Agency Direct Payment for Fiscal Authority is provided by ABC where the fiscal authority issues payment instructions to the PBOC and ABC, based on the payment application submitted by the budget units, transfers money directly into the accounts of the goods sellers and/or service providers and/or fund users from the zero balance accounts of the fiscal authority in accordance with the instructions.
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Agency Payment with the Central Special-purpose Funds
The Agency Payment with the Central Special-purpose Funds is a type of agency service provided by ABC for the reform of rural compulsory education funds guarantee mechanism and for the reform of other central special-purpose funds payment.
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Agency Collection of Non-Tax Fiscal Revenue
Agency Collection of Non-Tax Fiscal Revenue is a service provided by ABC for the fiscal authority to collect non-tax revenues. ABC banking offices timely transfer the amount received to the designated fiscal accounts at the end of each business day and report the summarized payment information to the fiscal authority at the same time, thus keeping the fiscal authority fully informed of the collection of all non-tax revenues.
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Funds Custody Service for Tax Authorities
The Funds Custody Service for Tax Authorities is a custody service provided by ABC to tax authorities. The primary tax authority opens special accounts with ABC for the receiving and payment of custody funds. The superior tax authority can access real-time inquiry and monitoring of the account of the primary tax authority.
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