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It is well known that Hong Kong is a banking mecca, one of the largest banking centers in the world. Less is known about banking and the availability of banking facilities and loans inside of China. The simple answer is complete banking facilities and services are available through local Chinese banks. This includes savings, checking, loans and credit cards. Banking transactions are in local currency, Renminbi(RMB).

Foreign Enterprises will use local banks for their  in country, local currency banking needs.

Automated Teller Machines(ATMs)

Automated teller machines are plentiful. RMB can be obtained from them 24 hours per day. Most major ATM international providers can be found. However, ATMs servicing foreign based providers may be scarce.

Checking Accounts

Checking accounts as well as savings accounts are readily available at local banks for use by foreign enterprises. All transactions are in local currency- - RMB.

Credit Cards

Credit cards can be used in China at a wide variety of stores and businesses. Tourist and travellers may use their credit cards for hotels, restaurants, and shopping. In fact, use of credit cards wherever possible is recommended as the exchange rate is slightly better than currency exchange rates at airports, hotels and banks.

The following credit cards can be used in most locations:

  • American Express

  • Mastercard

  • Visa

Chinese citizens can obtain credit cards at their local banks in most areas.

Remember to bring a significant amount of cash. While credit cards can be used in many places, there are a large number of local restaurants and shops which do not take credit.


Chinese currency is called Renminbi(RMB) or Yuan. It is not openly traded in the international currency market.

To see pictures of this currency and a description of it, see Currency.



Local banks provide a wide range of loans and credit to businesses. They service both local and foreign enterprise. The use of loans and revolving credit is a good way to leverage investments in China and minimize business risk associated with doing business in China. This is especially important during startup as cash flow tends to be negative as the fledgling business is acquiring it's capital assets, and building inventories, but has not yet generated revenues.

Loans can usually be acquired without parent corporation guarantees or letters of comfort.

Travellers Checks

Travellers checks are largely passe in today's finanacial monetary world.


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