List of Leading Banks in China
Hello! Today, we would like to present useful information that many business owners or brand owners may not yet be aware of, or for those who are seeking information about banks in China. Learning the basic information about various banks before investing is something that should not be overlooked. China is the world’s number one superpower and is highly conducive to investment and business ventures. Currently, the Chinese market is the most intriguing market for foreign companies, with many popular businesses.
Leading banks in China total 12 in number, as follows :

1. ICBC
It is the largest bank both in China and globally, with a high-quality customer base. Currently, the bank provides services such as deposit and withdrawal, home mortgage loans, car financing, credit and debit cards, foreign currency exchange, money transfer, insurance, financial advisory services, ATMs, and many other financial services.

2. China Construction Bank
It is the largest commercial bank in China providing construction loans. The main businesses of China Construction Bank include credit funds, housing provident fund deposits, foreign exchange, credit cards, and personal housing mortgage loans.

3. Agricultural Bank of China
The bank provides financial services in rural areas, promotes and oversees the establishment of credit cooperatives in rural areas, supervises and evaluates short-term and long-term loans to farmers and cooperative producers, as well as agricultural agencies of the state. It also controls and oversees the allocation and utilization of capital from the central budget in agriculture.

4. Bank of China
It is the commercial bank with the most overseas branches and is also the oldest bank in China. Services include accepting deposits in foreign currencies and renminbi deposits related to foreign exchange, providing export and import loans as well as foreign currency loans, remittance services for overseas Chinese, and buying and selling of foreign currencies.

5. Bank of Communication
One of China’s major financial service providers, offering securities and fund management, insurance, overseas financial services, etc.

6. China Merchants Bank
It is the first joint-stock commercial bank in China that is entirely owned by legal entities, and it is also the country’s first pilot bank to promote banking industry reform outside the traditional share-holding system. It is the first bank in China to be registered using international accounting standards.

7. Industrial Bank
It is one of the first group of joint-stock commercial banks approved by the State Council and the People’s Bank of China. Its business scope includes deposits and loans, domestic and foreign remittances, issuance of government bonds, inter-bank borrowing, and foreign exchange trading.

8. Postal Savings Bank of China
The Postal Savings Bank of China is under the full guidance of the State Post Bureau of China. It accepts renminbi deposits and provident fund deposits from various institutions.

9. China CITIC Bank
It is one of the oldest commercial banks established during China’s reform and opening up period. Its services include money transfers, foreign exchange, and working capital loans.

10. China Minsheng Bank
A bank that focuses on providing loans to small and medium-sized enterprises. It buys and sells foreign exchange accounts denominated in renminbi or US dollars.

11. Ping An Bank
A foreign exchange trading bank, suitable for diverse needs of investors, such as currency conversion, capturing exchange rate spreads, and earning interest rate income.

12. Huaxia Bank
A commercial bank with shares traded on China’s stock exchanges. Its services include renminbi deposits, issuing short, medium and long-term loans, issuing government bonds, rediscounting loans, interbank lending and guarantees.
List of 109 banks in China
Steps to Open a Bank Account in China :
Doing Business with China: If you have a business involved with China, opening a Chinese bank account can make financial transactions more convenient and faster.Opening a bank account in China requires many necessary document processes that must be carried out correctly and completely according to the requirements. This ensures the process proceeds quickly without any document rejections, as various problems may arise during the process.
#You may encounter these issues :
- Having to spend time researching information
- Communication barriers
- Submitting incomplete documents
- Incorrect documents
- Nationality restrictions
- High fees
- And many other issues that may come up
To avoid these problems, hiring an expert or a consulting company to provide advice may be a better option. Although it comes at a cost, it can save you a lot of time. However, you must consider the credibility of the company you choose to use.
Setting up a business in China requires company registration and opening a bank account in China. If you are interested, contact us, Intelligence Business (Thailand) Co., Ltd. We have a team of experts ready to provide consultation and assistance at every step in the process of opening an account and registering a company in China.