🇨🇳 Banks of China for foreign trade — the map

Lawyer, Family Office

Concept

The Chinese banking system consists of four categories of banks:"Big Four"state-owned commercial banks (ICBC, China Construction Bank, Agricultural Bank of China, Bank of China),national joint-stock banks(Everbright, Huaxia, Pudong Development, Pingan, etc.),city commercial banks(Dalian, Harbin, Langfang, Zhejiang Mintai and hundreds of others), andpolicy banks(Export-Import Bank, China Development Bank), which do not open corporate accounts for private companies.

After 2022, compliance standards in Chinese banks tightened significantly, particularly regarding foreign beneficiaries. Not every bank continues to serve HK companies with complex or geopolitically sensitive UBO structures. Below is a map of banks we actively work with today, and those we can recommend to clients but do not service directly.

Banks we work with

These banks are in our active product catalogue. For each we have a tested account opening process, local associates in Shanghai and a team ready to close the deal.

Banks we do not work with (and why)

Below are banks where account opening is difficult or impossible in the current configuration. Each is profiled in the section further down this page, with working alternatives.

Current status and working alternatives for each of these banks are set out in the profiles below. If any client needs a solution through one of them — we can help with an alternative or offer a structure through our channel.

Bank profiles: niches, pricing and timelines

Compressed profiles of the banks from the map above. Banks with a live Russia corridor — Harbin, Langfang and CZCB — keep their own full pages, as does Bank of China for the Big Four.

Everbright Bank — trade finance for the mid-market

China Everbright Bank is a national joint-stock lender: Beijing, founded 1992, listed in Shanghai and Hong Kong, around CNY 7 trillion (~$1T) in assets across 1,300+ outlets. The trade-finance desk is the draw: letters of credit, guarantees, documentary collections, factoring and forfaiting with a direct Sinosure channel that lowers the factoring discount, plus direct CIPS participation. Best fit — trading companies with contracts of $50K–$10M and regular CNY settlements with mainland suppliers; currencies CNY, USD, EUR, HKD, JPY, others on request.

Russian-linked UBOs are considered case by case: residence permit or second citizenship outside sanctioned jurisdictions, non-sanctioned counterparties, goods outside dual-use lists; pre-screening through our Shanghai associate is mandatory. Alternatives on refusal: Harbin, CZCB, Dalian.

Timeline — 15–25 business days with clean KYC, up to 30–35 for dual-use goods or complex UBO. Our fee by tier: Tier 1 from €2,500 (standard HK Ltd), Tier 2 €5,000 (multi-currency, multiple UBOs), Tier 3 €7,500 (extended due diligence). Bank fees: $120–150/month maintenance, 0.08–0.1% domestic and 0.1% international payments, LC from 0.3%, guarantees from 0.5%/year, Sinosure-backed factoring from a 4–6% discount.

Not for: Russians without a second residence, $100M+ turnover (Bank of China), capital parking without operating flow, crypto, gambling, adult, shell companies.

Huaxia Bank — financial consulting and asset management

Huaxia Bank (Beijing, listed 600015 in Shanghai, ~$600bn in assets, 950+ outlets; roughly 40% of income from the corporate segment) leans toward advisory and capital-markets profiles: financial and investment consulting, asset management, family offices, IT/SaaS with a Chinese segment. Every application goes through an individual compliance review; direct CIPS participant; currencies CNY, USD, EUR, HKD, SGD. Weak niche for pure trading and e-commerce — Everbright or Bank of China fit better.

Russian/Belarusian UBOs — by arrangement with a foreign residence permit and a consulting/investment business model rather than pure RF trade; particularly favourable to UBOs with a venture or investment background. Alternatives: Harbin, Dalian.

Timeline — 15–35 business days: standard consulting 15–20, complex asset-management structures up to 35. Our fee from €5,000, typical range €5,000–8,000 depending on structure. Bank fees: $100–150/month, 0.08–0.1% domestic, 0.1–0.15% international, asset management from 0.5%/year of AUM, custody from 0.15%/year.

Not for: pure trading and e-commerce, RU/BY without residence, large capital storage, crypto, gambling, shells.

Ping An Bank — technology and supply chain finance

Ping An Bank (Shenzhen, part of Ping An Insurance Group; bank assets ~CNY 5.9 trillion (~$820bn), 1,000+ branches, licensed Hong Kong branch) is the most tech-enabled mainland channel: corporate REST API for payments, statements, FX and balance reporting, real-time treasury, and scenario-based supply chain finance with blockchain forfaiting and AI counterparty scoring — named Best Trade Finance Bank in China 2025 by The Asian Banker. Direct CIPS participant; currencies CNY, USD, EUR, GBP, HKD, JPY, SGD, others on request.

Russia/Belarus/Kazakhstan-linked UBOs — by arrangement with an EU/UK/UAE/Singapore residence permit, non-sanctioned counterparties and a clear business purpose (tech project, supply chain finance, fintech operations — not a "universal account"). Alternatives: Harbin, Dalian.

Timeline — 15–25 business days with clean KYC; API onboarding adds 5–7 days with the bank's tech team. Our fee from €5,000; API integration coordination +€1,500. Bank fees: $120/month, 0.08% domestic (cap CNY 800), 0.1% international, trade finance from 0.3%, Sinosure-channel factoring from a 4–6% discount.

Not for: RU/BY without residence, retail flows without a China leg (Wise/Airwallex are cheaper), capital storage, crypto, gambling/adult, heavy metals without a licence, shells.

Bank of Dalian — Liaoning and the northeast corridor

Bank of Dalian is an urban commercial bank in Liaoning: RMB 520bn in assets per its 2024 report, SWIFT DLCBCNBD, controlled by China Orient Asset Management together with the Dalian municipal finance bureau. The niche is trade with a provable link to Dalian, Liaoning and northeast China: port shipments, purchases from regional producers, settlements across the northeast. Currencies: CNY primary, USD/EUR by purpose, RUB only after a separate route check. Comfortable minimum turnover — around $30K/month.

Russia-linked applications are never automatic: since EO 14114 (December 2023) and the Gazprombank designations (November 2024), every RU element — owner, remitting bank, end-buyer — goes through a sanctions review before filing; "try-your-luck" applications end in refusal or returned payments.

Timeline — 15–25 business days for a clean profile. Our fee by tier: Tier 1 from €2,500, Tier 2 €5,000, Tier 3 €7,500 (RU ties, enhanced due diligence). Bank fees: $100/month, 0.1% domestic, 0.1–0.15% international, RUB legs 0.3–0.5%, LC and guarantees from 0.4%.

Not for: sanctioned parties anywhere in the chain (unconditional refusal), crypto and gambling, shells, large capital storage (deposit insurance CNY 500K), $50M+ institutional turnover.

SPDB — a hard channel for large operators

Shanghai Pudong Development Bank (Pudong, top-10 mainland lender with ~CNY 10 trillion in assets, direct CIPS participant, Shanghai FTZ/FTN heritage) is a hard channel for a foreign company: a mainland-resident director is mandatory (a nominee adds $3,000–8,000+/year to the structure), currency sub-accounts open only above $1M/month in confirmed turnover, a personal visit to Shanghai is expected, and manual compliance takes 30–45 business days. Not in our active catalogue — we support it only for niche mandates.

Where it is rational: subsidiaries of Chinese groups, WFOEs with real Shanghai presence, $1M+/month settlement volumes, syndicated lending and treasury cases, Shanghai FTZ residents. RU/BY — effective refusal since 2022. Similar joint-stock functionality without the local-director requirement — Everbright or Ping An; universal banking — Bank of China; mid-sized CIS trade — Dalian, Harbin.

Zhejiang Mintai — niche Zhejiang

Zhejiang Mintai Commercial Bank (Taizhou; ~CNY 237bn in assets; around 12 branches and 159 outlets across Zhejiang) is built around the Taizhou/Wenling private SME economy. The international franchise is thin: CIPS only via correspondents, SWIFT through nostro accounts with 2–4 day lags; CNY primary, USD on request, EUR limited. Outside our active catalogue since 2024 — an exceptional channel justified only by a genuine Taizhou nexus, for example as a reserve account for an existing ZCCB client.

Timeline — 20–30 business days, an in-person visit to Taizhou is usually required. RU-UBO applications are typically declined at pre-screening — the regional compliance team has no capacity for enhanced due diligence. Predictable alternatives: ZCCB (same Zhejiang, larger), Harbin and Dalian for CIS links, Everbright and Ping An for mid-market trade, Bank of China for large turnover.

Documents required by all Chinese banks

Any Chinese bank opening a corporate account for an HK company will require the same basic set:

• Beneficiary passport (all pages)
• Proof of residential address (not older than 3 months)
• Source of funds description — 1–2 pages, verifiable facts
• Complete HK company corporate kit (Certificate of Incorporation, Business Registration, Articles of Association, Annual Return / NAR1, audited statements if available)
• Business model description — 1.5 pages, client types, currencies, 12-month turnover forecast

What all Chinese banks have in common

• Hardware tokens— two transaction confirmation devices, sent by courier to any country
• Online banking— usually view-only + electronic upload of documents, not for real-time operations
• Compliance review of each transaction— every payment undergoes manual review, notify the bank in advance about large transactions
• Opening timeframe— 15–25 business days with clean KYC; up to 45 days with enhanced due diligence
• Minimum monthly turnover— most banks require ~$50K/month for active account servicing

Related services

• 🇭🇰 Hong Kong company— corporate wrapper for all Chinese accounts
• 🇨🇳 Company registration in Guangzhou— if WFOE needed for direct presence
• 🐉 Financing in China— credit products from Chinese banks (Dalian, Everbright, Pingan)
• 💼 neobank for international entrepreneur— alternative to bank account for small turnover