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A China bank account certificate is a permit which allows a Mainland China-registered company do open a corporate bank account and conduct financial business in China.
When doing business with a Chinese company, asking them to provide you with a copy of this certificate allows you to ensure they have a bank account in China and you can even insist on making payments to this account.
This article provides some background on the China bank account certificate and gives an explanation of how it is used.
The official name of the China bank account certificate is "开户许可证", which roughly translates directly into English as “Open Bank Account Permit”.
The certificate is issued to newly registered Mainland China companies when they first register for a corporate bank account with a Chinese bank. In most cases this account is the company’s basic Renminbi (Chinese yuan) account.
This is what the certificate looks like if you have received a scan or photo of the original document:
From top to bottom the fields on the China bank account certificate are as follows:
The only organization which can issue a China bank account certificate is the People’s Bank of China, although other banks can apply for it on behalf of a newly-registered Chinese company when they first apply for a corporate bank account. In any case, the certificate still needs to be stamped approved by the People’s Bank of China.
The People’s Bank of China is the central bank of the People’s Republic of China.
Every Mainland China-registered company is required to obtain this certificate when they first sign-up for a basic account at a Chinese bank.
Possession of this certificate is then subsequently a precondition for the opening of other bank accounts, such as foreign currency accounts, either at the same or at another bank.
One method for foreign companies to protect themselves when doing business in China is to request that payments are only made to the bank account number specified on the China bank account certificate.
Visit any Chinese city these days and you are bound to see rows and rows of brightly colored shared bicycles - they are the most visible of the many China sharing services.
Whilst shared bicycles might be the most well known, they are far from the only popular shared service in China though.
Keep reading to learn more about how shared bicycles and some of the other popular China sharing services work, including battery packs, sports equipment and cars!
Have you received a China ISO 45001 certificate and wondered what it is, if it is real and how to check it?
Replacing the previous standard OHSAS 18001 in 2018, this new international standard specifies the requirements for occupational health and safety.
The uptake of certification to this standard in China has been quick and many Chinese organizations are providing their clients with copies of their China ISO 45001 certificate. Learn more about it here.
Whether you are planning a trip to China, researching a specific location, or trying to figure out how bad the Beijing rush hour is, there are plenty of good reasons to use China map websites.
Although most international map websites cover China, these websites face various restrictions which mean they can't provide a service as in-depth as their Chinese counterparts, so it is a good idea to know your options.
In this article we introduce the 8 most useful China map websites, including both international services available in your language, and some impressive domestic websites only available in Chinese.