Loewner Theory, based on dynamical viewpoint, proved itself to be a powerful tool in Complex Analysis and its applications. Recently Bracci et al. (J Reine Angew Math to appear, arXiv:0807.1594; Math Ann 344:947-962, 2009) and Contreras et al. (Revista Matemática Iberoamericana 26:975-1012, 2010) have proposed a new approach bringing together all the variants of the (deterministic) Loewner Evolution in a simply connected reference domain. This paper is devoted to the construction of a general version of Loewner Theory for the annulus launched in Contreras et al. (Trans Amer Math Soc to appear, arXiv:1011.4253). We introduce the general notion of a Loewner chain over a system of annuli and obtain a 1-to-1 correspondence between Loewner chains and evolution families in the doubly 352 M. D. Contreras et.alconnected setting similar to that in the Loewner Theory for the unit disk. Furthermore, we establish a conformal classification of Loewner chains via the corresponding evolution families and via semicomplete weak holomorphic vector fields. Finally, we extend the explicit characterization of the semicomplete weak holomorphic vector fields obtained in Contreras et al. (Trans Amer Math Soc to appear, arXiv:1011.4253) to the general case.