🇨🇳 Corporate bank accounts in China — overview

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 described on a separate page with detailed analysis and alternatives.

For each of these banks there is up-to-date information on status and working alternatives on a separate page. If any client needs a solution through one of them — we can help with an alternative or offer a structure through our channel.

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)
• 💼 EMI for international entrepreneur— alternative to bank account for small turnover