Register Shanghai WFOE troublesome?

K (RMB)

1.
We are looking for a qualified bank in Shangahi to open account for our small WFOE. We need to send and receive money abroad quite often but still most of the payments are within mainland China. Is HSBC working well nowadays? Or do they still have too many limitations because of the regulations for foreign banks? And how about e-banking? I have tried many local banks, but none of them have English version of e-banking. (view full answer)

Both foreign invested and local banks in Shanghai can meet the need of foreign invested enterprises. For small WFOE, local banks such as China Merchants' Bank and Shanghai Pudong Development Bank are recommended because of their lower charge. English version of internet banking is not very common among local banks, but so far Bank of China and SPDB have it.

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