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Banking in China

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Banking in China

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Banking in China

China has, for a long time, been an economy based on cash. Many nationals still don't have bank accounts or cash/credit cards. Wages in China are still often paid in cash too. But with such a change in the economy of late, traditional forms of banking are gaining remarkable popularity.

You will find few Western banks in China, which is dominated by mainly local banks. Opening an account is a surprisingly easy process. You will need to provide as documentation:

  • ID (passport)
  • Residency Permit or Visa
  • Proof of address
  • Banking hours are commonly 0900-1700 Monday to Friday.

Click here to Ask an Expert about Banking in China

Organisations that can assist with Banking

  • > GCE Global Solutions

    I already have business in China, but my operation is very large and I need to keep track of the information.

    More Details Visit Website
  • > Sovereign Group

    Sovereign offers a range of advisory and support services to assist companies of all sizes to establish successful business operations in foreign markets.

    More Details Visit Website
  • > Need to open a bank account in this country?

    Business Banking advice Advice on which type of bank account would best suit your business. Help making payments and getting paid.

    More Details Visit Website

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