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Our branch, therefore, exclusively deals with foreigners and foreign-funded enterprises whether they are wholly or partially invested Chinese company, and handles US dollars and local currency(RMB).
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Savings Deposit(USD AND CNY)
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| A/C Name |
Target Customers / Opening Amount |
Terms and Minimum Deposit |
Rates(%) Description |
Description |
| USD |
CNY |
| Savings Deposit |
Individual and corporate(CNY Individual A/C) |
No limit(CNY 1.0) |
Discussion Rate |
Announced by PBOC |
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Time Deposit (USD)
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| A/C Name |
Target Customers / Opening Amount |
Rates(%) |
Terms |
Description |
| 3 Months |
6 Months |
1 Year |
| Time Deposit |
Individual and corporate/U$ 5,000 or more |
Deposit Rates (prime rates) |
Discussion Rate |
Fixed interest is accrued from the time of opening an account and paid on maturity |
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Time Deposit (CNY)
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| A/C Name |
Target Customers / Opening Amount |
Rates(%) |
Terms |
Description |
| 3 Months |
6 Months |
1 Year |
| Time Deposit |
Corporate/U$ 5,000 or more
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Deposit Rates (prime rates) |
Rate announced by PBOC |
Fixed interest is accrued from the time of opening on account and paid on maturity |
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Required Documents to open an account
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Individual : Passport |
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Corporation : Business registration certificate, Foreign Capital Registration Certificate. |
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Approval of the Administration of Foreign Exchange Control to open a foreign currency account. |
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Reminder
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Under the local foreign exchange regulations, an individual who deposits or withdraws more than U$10,000 in a day a month must be approvaled by the local Administration. Foreign-funded enterprises are allowed to use US dollars only under specific circumstances as defined by the foreign exchange control rules. |
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Otherwise, companies have to pay RMB for all expenditures incurred in maintaining their operations in China. The rule stipulates that foreign-funded enterprises are able to use US dollars in two situations - salaries of their employees who are dispatched to China and overseas business travel expenses incurred by their employees. |
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To prove such situations, companies are required to present the board's resolutions and visa record as evidence of its foreign exchange bank in order to withdraw US dollars. |
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For the Individual maximum amount of cash deposit/day is USD 5,000 |
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You are allowed to withdraw USD 10,000 of remitted funds per day |
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Outbound Remittances
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For cash remittances, you are allowed to send up to U$10,000 a day. |
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US dollar and RMB can be handled by the bank.
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Trade Finance
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We provide a wide range of services for export-import trade related transactions. We deal with export and import financing such as the negotiation and collection of an L/C and export bill of exchange related to international trade. |
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| Export Services |
Import Services |
Guarantee |
L/C advice
L/C negotiation
L/C transfer
Negotiation of export bills
under D/P, D/A
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L/C opening
Import financing
Documentary collection
- D/P, D/A
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Stand- by L/C
L/C Confirmation
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| Category |
Coverage |
Term |
| General Loans |
General loans |
Within 5 years |
| Facility Loans |
Import of facilities, factory construction |
Within 10 years |
| Trade Financing |
D/A, D/P
L/C opening, bank guarantee and import financing |
Within 1 year |
| Household Loans |
Supplement household expenses
(within U$20,000) |
Within 5 years |
| Bank Guarantee |
Obligation Fulfillment, Contract Implementation |
Within 1 year |
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Collateral
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Bank issued STB L/C |
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Deposits owned at home and abroad (won, foreign currency) |
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Real Estate owned at home and abroad. |
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Guarantee by head office (in case of first-tier companies) |
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Loan Rate
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Lending interest rate is based on the formula : Libor or KEB Prime Rate or deposit rate of the deposit secured + a. Spread (dependent on your credit rating and banking history with us.) |
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