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.
company form
WFOE · Negative List
currency control
SAFE
tax accounting
fapiao · annual audit
profit repatriation
dividends post-audit
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banks & neobanks
Licensed banks and neobanks for corporate, personal and private banking accounts.
Agricultural Bank of China (ABC)Agricultural Bank of China (ABC), one of the PRC's Big Four state banks, $4.8T+ assets as of 2024. Corporate accounts, RMB settlement and access for non-resident UHNW.read →Ant Bank HK: Ant Group Virtual Bank for E-commerce and Cross-border with MainlandAnt Bank (Hong Kong) — HKMA-licensed virtual bank, 100% owned by Ant Group (Alipay). Ideal for e-commerce and cross-border settlements with mainland China.read →Bank of China (Hong Kong): Note-Issuing Bank, RMB Clearing and CIPS Direct ParticipantBank of China Hong Kong as HKD note issuer, RMB clearing bank and CIPS participant: when it matters for PRC settlements and resilient corridors.read →Banks of China for foreign trade — the mapA map of Chinese banks for cross-border trade: niches, RU-UBO regimes, opening timelines and service fees — Big Four, joint-stock and regional banks.read →Big Four of China for foreign trade: BoC, ICBC, CCB, ABCChina's Big Four for cross-border trade: Bank of China as the working channel (fees, timelines, RMB/CIPS) and honest profiles of ICBC, CCB and ABC — approval rates, sanctions risk, alternatives.read →China Construction Bank (CCB)China Construction Bank, the world's second-largest bank by assets (~$4.5T+ as of 2024) and a PRC Big Four lender: corporate account access and fit for family offices.read →CNY correspondent routes for sanctions-sensitive settlementsHow CNY settlement routes use regional Chinese correspondents for sanctions-sensitive payment flows and cross-border yuan risk screening.read →Currency exchange in CZCBStep by step: buy and convert currency (USD/EUR ↔ CNY) in the CZCB (Zhejiang Chouzhou Commercial Bank) online banking client, upload the supporting trade documents and print the purchase receipt.read →CZCB (Zhejiang Chouzhou Commercial Bank): Yiwu bank for China trade and RMB settlementsZhejiang Chouzhou Commercial Bank (CZCB) for HK firms trading with the Yiwu cluster: CNY/USD accounts, CIPS, trade finance, and strict KYC for sanctioned UBOs.read →CZCB online banking: login & Ukey setupHow to set up the two Ukey tokens and log in to the CZCB (Zhejiang Chouzhou Commercial Bank) enterprise online banking client, step by step.read →Dalian Bank — regional account for trading businessBank of Dalian, a regional commercial bank in Liaoning with ~$80bn in assets: account opening for trading businesses and cross-border settlement in China.read →Everbright Bank — account for a trading companyChina Everbright Bank in Beijing, listed in Shanghai and Hong Kong: how trading companies open accounts for cross-border settlements.read →Financing in China — credit for trading businessMainland China banks offer highly competitive trade finance: rates from 3.1% p.a., flexible tenors and large limits. How UHNW-backed trading firms qualify.read →Fusion Bank: Tencent-backed virtual bank in Hong Kong for WeChat ecosystemFusion Bank is a Hong Kong virtual bank licensed by HKMA, a JV with Tencent, ICBC Asia and HKEX. Best for WeChat ecosystem and China settlements.read →Generating bank statements in CZCBStep by step: generate and download a PDF bank statement for a CZCB (Zhejiang Chouzhou Commercial Bank) account in the online banking client.read →Hang Seng Bank: Prestige Banking, Prestige Private and HSBC Subsidiary in Hong KongHang Seng Bank, Hong Kong's second-largest bank and HSBC-controlled institution: Prestige tiers, thresholds and Asian private-capital fit.read →Harbin Bank — account for China corridor tradeHarbin Bank opens HK-company accounts for China corridor trade with multi-currency settlements, documented funds, eligibility and fees.read →HSBC Hong Kong: One, Premier, Premier Elite and Global Private Banking — Note-Issuing Bank as Gateway to AsiaHSBC Hong Kong, largest HK bank and HKD issuer: One, Premier, Premier Elite (ex-Jade) and Global Private Banking tiers, thresholds and capital access.read →Huaxia Bank — account for financial consultingHuaxia Bank, a Beijing-based national commercial bank listed in Shanghai: opening an account for financial consulting and onboarding notes for cross-border clients.read →ICBC — Industrial and Commercial Bank of ChinaICBC, the world's largest bank by assets ($5.7tn+): account opening in China, profile and onboarding for trading and corporate private-capital clients.read →Langfang Bank — niche account for large-scale tradingBank of Langfang, a regional bank in the Beijing-Tianjin-Hebei zone: a niche account for large-scale trading, with onboarding notes for cross-border business.read →livi bank: virtual bank BOC HK + JD.com + Jardines with Mainland remittancelivi bank is a Hong Kong virtual bank licensed by HKMA, a joint venture of BOC HK, JD.com and Jardines. Mainland remittance and retail onboarding for private clients.read →Making payments in CZCBStep by step: create and authorise a payment in the CZCB (Zhejiang Chouzhou Commercial Bank) online banking client, upload supporting documents, and use the Operator and Authoriser tokens.read →Ping An Bank — tech-enabled account for corporate clientsPing An Bank, a Shenzhen-based joint-stock commercial bank: its tech-enabled corporate account and fit for foreign-owned firms and family offices in China.read →PingPong: marketplace revenue + RMB suppliers + VAT compliancePingPong supports marketplace sellers with revenue collection, RMB supplier payments, VAT compliance, and cross-border settlement infrastructure.read →Purchasing a Chinese numberStep-by-step guide to buying a mainland China mobile number via WeChat and eSender: registration, passport verification, payment and activation for banking and business.read →Restrictions on goods in Chinese banksHS-code lists of goods restricted by Chinese banks (CZCB, Huaxia, Zhejiang Mintai, Everbright): EU-sanctioned items, semiconductors, bearings. Key for trade routing.read →Shanghai Pudong Development Bank (SPDB)Shanghai Pudong Development Bank (SPDB), a Shanghai-listed joint-stock lender with over $1T in assets: corporate account access and fit for private capital.read →WorldFirst: payments to Chinese suppliers via Ant GroupWorldFirst, part of Ant International, supports B2B payments to Chinese suppliers, FX, local account details, and Asia-focused cross-border settlement flows.read →Zhejiang Mintai Commercial BankZhejiang Mintai Commercial Bank, a regional lender in Zhejiang: how it compares to peers, account access, and where it fits for cross-border trade structures.read →
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companies & funds
Companies, funds, SPVs, holdings and investment vehicles in key jurisdictions.
Company audit in ChinaAnnual statutory audit for companies in mainland China, incl. WFOE and Free Trade Zone entities: scope, deadlines and filing for family offices.read →Company in ChinaGuide to forming a WFOE in mainland China: foreign ownership, tax, fapiao, SAFE currency control, bank account setup, and regional choice.read →Hong Kong vs Singapore for a Trading Company with Mainland China ClientsHong Kong vs Singapore for a trading company with mainland China clients: profits tax 8.25%/16.5% vs 17%, China treaty access, offshore RMB settlement rails, and substance rules for offshore claims.read →Intestate Succession in China: Civil Code 2021 and PlanningTwo classes of heirs under China's 2021 Civil Code, spousal share, testamentary reform, "necessary portion" (Art. 1141), testamentary trusts, and no inheritance tax.read →
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residency & citizenship
Residency and citizenship: Spain Digital Nomad, Beckham regime, Andorra, Monaco and Singapore PR.
China — Visa-free transitChina's 144-hour visa-free transit for Shanghai: who qualifies, registration steps and how family-office travelers use the 6-day window without a full visa.read →China residence permit: work permit, Z visa and permanent residenceWork permit A/B/C, the Z visa and the residence permit: routes via a WFOE and a representative office, the K visa for STEM, the five-star card and Chinese tax residency.read →
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Other
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
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