chinaonramp

Topic

Opening an RMB Business Account That Actually Clears

Basic vs general account, legal-rep in-person rules, KYC red flags, cross-border FX (SAFE) registration, ICBC vs BoC vs CMB.

By Mike · China-entry broker 9 min read

Basic account (基本户) vs general account (一般户) — which to open first

This section will be written by Wave 2B.

KYC red flags that get foreign-controlled WFOEs declined

This section will be written by Wave 2B.

SAFE (State Administration of Foreign Exchange) cross-border registration

This section will be written by Wave 2B.

ICBC vs Bank of China vs CMB for foreign-owned entities

This section will be written by Wave 2B.

What to do when your first bank declines you

This section will be written by Wave 2B.

Go deeper

6 min read

RMB Basic Account vs General Account — Which First

Why the 基本户 must come first, what the general account 一般户 unlocks, and the 6-step opening sequence that minimizes downtime.

6 min read

How to Choose an ICP Sponsor for Your Domain

Picking an ICP sponsor — entity-tied filings, sponsor fee ranges, support quality, what happens when a sponsor disappears.

6 min read

ICBC vs BoC vs CMB for Foreign-Owned WFOEs

Three biggest banks compared on foreign-owned WFOE friendliness, cross-border infrastructure, and decline rates in 2026.

Frequently asked questions

Which bank is friendliest to foreign-owned WFOEs?

Varies by city and year. Currently CMB (China Merchants) in Shenzhen and Bank of China in Shanghai have the highest acceptance rates for foreign-owned entities. ICBC is most rigorous but has the deepest cross-border infrastructure once opened.

Does the legal rep have to travel to China for account opening?

Almost always yes for the first account. A few banks accept apostilled remote-signing for follow-on accounts, but not the first. Budget the trip into your timeline.

Why was my account application rejected?

Common reasons: business scope language mismatched with bank's risk appetite; legal rep with cross-border-control PEP flag; capital injection plan unclear; ultimate beneficial owner structure too deep. Resolving means changing one variable and re-applying — sometimes at a different bank.

What does this cost?

The quoted-pricing tile on the parent service page lists current per-filing fees. We update these annually and stamp the last-reviewed date on every page.

What documents do you need from us?

The exact document checklist varies by filing. Each guide includes a printable PDF checklist you can pre-flight before contacting us.

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