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Can Shenzhen property management not set up a condominium account?
You can't. According to the Measures for Supervision and Management of Owner's Funds in Shenzhen issued by Shenzhen Housing and Construction Bureau, the owner's * * * fund accounts include the owner's * * * fund basic account and the owner's * * * fund management account, and only one owner's * * fund account can be opened in a property management area, so it is necessary to set up a * * * management account. * * * Custody account is a bank account set up to meet the needs of two or more people * * * to manage the same bank account. This account is suitable for husband and wife or business partners to jointly manage working capital.
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