Deposits
We offer the commercial banking services such as corporate banking service and personal banking service excluding the service to Chinese individuals due to lack of business license.
Demand Deposit (USD AND CNY) (as of Mar. 2013)
Account Name Target Customers Interest rate(%)
USD CNY
Demand Deposit Personal / Corporate 0.05 0.385
Call Deposit Personal / Corporate 7 day call : 0.10 1 day call : 0.85
7 day call : 1.39
Call deposits refer to the transactions where the customer cannot withdraw money until he/she informs the bank in advance and appoints the withdrawal date and amount.
As for CNY call deposits, the additional rate offering is negotiable with the bank within the guideline of People¡¯s Bank Of China
As for USD deposits, the additional rate offering is negotiable with the bank if the account valance exceeds 3 million.
Time Deposit (USD) (as of Mar. 2013)
Account Name Target Customers Terms/Interest rate(%)
1 month 3 month 6 month 1 year 2 year 3 year
Lump-sum term Deposit Personal / Corporate 0.20 0.45 0.90 1.20 1.35 2.00
The additional rate offering is negotiable with the bank if the account valance exceeds 3 million.
Time Deposit (CNY) (as of Mar. 2013)
Account Name Target Customers Terms/Interest rate(%)
3 month 6 month 1 year 2 year 3 year 5 year
Lump-sum term Deposit Personal / Corporate 2.85 3.05 3.30 3.75 4.25 4.75
The additional rate offering is negotiable with the bank within the guideline of People¡¯s Bank Of China
We also provide the various terms of installment deposits.
Required Documents to open an account
Individual : Passport and/or other ID
Corporation : Business license, enterprise standard code certificate, the official documents offered on the prescriptions of the State Administration of Foreign Exchange, and other documents required by the local regulations.
Reminder
Under the local foreign exchange regulations, the individual who withdraws more than U$10,000 in a day should be approved by the local administration. Foreign-funded corporations are allowed to use US dollars only under specific circumstances as defined by the foreign exchange control rules.
Otherwise, corporations have to pay CNY for all expenditures incurred in maintaining their operations in China. The related rules stipulate that foreign-funded corporations 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.
For the Individual, maximum amount of cash deposit a day is USD 5,000
Remittance
Inbound Remittance
You are allowed to withdraw maximum USD 10,000 in cash from inbound foreign remittance.
No restrictions are applied to CNY cash withdrawal.
Outbound Remittances
For USD cash remittances, you are allowed to remit up to U$10,000 a day.
Foreign Exchange
US dollar and CNY can be handled by the bank.
Other Services
Trade Finance
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.
Export Services Import Services Guarantee
L/C advice
L/C negotiation
L/C transfer
Negotiation of export bills
under D/P, D/A 		L/C opening
Import financing
Documentary collection
- D/P, D/A 		Stand- by L/C
L/C Confirmation
Loans
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
Collateral
Bank issued STB L/C
Deposits owned at home and abroad (won, foreign currency)
Real Estate owned at home and abroad.
Guarantee by head office (in case of first-tier companies)
Loan Rate
Lending interest rate is based on the formula : Libor or PBOC CNY Basic Rate or deposit rate of the deposit secured + a. Spread (dependent on your credit rating and banking history with us.)