Jurisdiction · China
China: company, tax, banking and currency control
Operating in China rests on four things: the right company form (usually a WFOE, subject to the Negative List), SAFE currency controls, fapiao-based tax accounting, and banking compliance on profit repatriation. This hub gathers everything we write on China — from company setup and audit to accounts and cross-border payments.
banks & neobanks
- 🇨🇳 Agricultural Bank of China (ABC)
- 🇨🇳 Bank of China — corporate account for HK company
- 🇨🇳 China Construction Bank (CCB)
- 🇨🇳 Corporate bank accounts in China — overview
- 🇨🇳 Dalian Bank — regional account for trading business
- 🇨🇳 Everbright Bank — account for a trading company
- 🇨🇳 Financing in China — credit for trading business
- 🇨🇳 Huaxia Bank — account for financial consulting
- 🇨🇳 ICBC — Industrial and Commercial Bank of China
- 🇨🇳 Langfang Bank — niche account for large-scale trading
- 🇨🇳 Ping An Bank — tech-enabled account for corporate clients
- 🇨🇳 Shanghai Pudong Development Bank (SPDB)
- 🇨🇳 Zhejiang Mintai Commercial Bank
- Account at CZCB (Zhejiang
- Ant Bank HK: Ant Group Virtual Bank for E-commerce and Cross-border with Mainland
- Bank of China (Hong Kong): Note-Issuing Bank, RMB Clearing and CIPS Direct Participant
- CNY correspondent routes for sanctions-sensitive settlements
- Fusion Bank: Tencent-backed virtual bank in Hong Kong for WeChat ecosystem
- Hang Seng Bank: Prestige Banking, Prestige Private and HSBC Subsidiary in Hong Kong
- Harbin Bank — account for China corridor trade
- HSBC Hong Kong: One, Premier, Jade and Global Private Banking — Note-Issuing Bank as Gateway to Asia
- livi bank: virtual bank BOC HK + JD.com + Jardines with Mainland remittance
- PingPong: marketplace revenue + RMB suppliers + VAT compliance
- Purchasing a Chinese number
- Restrictions on goods in Chinese banks
- WorldFirst: payments to Chinese suppliers via Ant Group
companies & funds
residency & citizenship
FAQ
How do you set up a company in China?
Usually via a WFOE (wholly foreign-owned enterprise), subject to the Negative List, with a registered address, charter capital (payable over 5 years) and SAMR registration.
Can you freely repatriate profit from China?
No. SAFE currency controls apply: dividends are remitted after the annual audit and tax settlement, with documentation, and payments pass bank compliance.
Are audit and fapiao required?
Yes. An annual audit is mandatory, and the fapiao (official invoice) underpins tax accounting: without proper fapiao, expenses are not deductible.
Contact information
If you have questions or need a consultation, our experts will be glad to help.