Opinions, knowledge and resources from China Checkup's expert contributors
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
31 October 2019
This article identifies over one hundred of the most informative English-language China news websites.
By regularly sharing news from China on our social media channels we have identified many good sources and thought it would be a good idea to share these with you, our readers.
So if you are looking for websites with news on China, look no further than this long list we have compiled.
by Matt Slater
30 August 2019
Do you want to know which China city economies are the driving force behind Mainland China's huge and growing GDP figures?
As China's best-known cities, it came as no surprise that 2019 data popular in Chinese media identified Shanghai and Beijing as the cities with the largest GDP, but few will even have heard of Xinyang, which was ranked 100th.
According to the National Bureau of Statistics, China's national GDP reached a new high of CNY 90,031bn (USD 13,608) in 2018, but which other Chinese cities had the largest share of this GDP? Keep reading to find out.
by Matt Slater
13 August 2019
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!
Perform your due diligence with a Company Verification Report
Order Online | 1-Day Turnaround
Protect My Business
Founded in 2013 by Matt Slater, China Checkup is the #1 provider of Chinese company verification services.
Trusted by thousands of clients worldwide, China Checkup's reports are easy to order, processed quickly and highly accurate.
Brisbane & Shanghai
AIC – Alibaba – Business License – Data –Explanations – Fraud – Introductions – ISO – Lists – Questions – Resources – Shipping – Sourcing – Stories – Supplier Lists – Supply Chain – Travel
5 Ways to Check Chinese Certificates are Legitimate
China Business License - An Introduction
China Company Register - The AIC System
Is There a China Company Registration Search Website?
The New 18-Digit Chinese Business Registration Number
What is the Unified Social Credit Code?