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by Matt Slater
20 January 2016
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.
Hi there, I'm Matt, the Founder & CEO of China Checkup. Originally from the UK, I am now based in Brisbane, Australia.
Frustrated by the scarcity of concise, high-quality and timely information about Chinese companies, I setup China Checkup whilst living in Shanghai in 2013.
My team are proud that China Checkup's company verification reports have now helped thousands of clients from all corners of the world to do business in China more safely.
by Matt Slater
11 December 2020
View this comprehensive list of cities in China from Ankang to Zunyi!
We have included all cities in China that are either at, or above, prefecture-level and they are listed both alphabetically and grouped by province.
by Matt Slater
16 November 2020
This list of Chinese AMR websites includes links to the AMR branch website for each province/administrative region in China.
In case you're wondering, the acronym "AMR" stands for "Administration for Market Regulation", which is a newly-launched Chinese government agency created by the merger of many previous agencies, including the AIC and AQSIQ.
This super regulator is now responsible for a wide range of regulatory matters in Mainland China, so if you need to get in touch with them you should find this list of Chinese AMR websites useful.
by Matt Slater
10 November 2020
The China AEO Certificate is a document held by companies in China engaged in import and export activities.
Issued by China Customs, the certificate specifies the company's enterprise classification, which determines their level of inspections and more.
Requesting and verifying a supplier's China AEO certificate can be a sensible measure to understand if they are registered with China Customs as an "Authorized Economic Operator" and to check their AEO type.
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