Best banks in China

Some of the best banks in China are the Bank of China, China Construction Bank, and the Agricultural Bank of China.

The State Council’s People’s Bank of China is China’s central bank. The People’s Bank of China issues and circulates the Renminbi and sets monetary policy conforming with Chinese legislation.

Currency boards and de facto central banks also exist in the particular administrative territories of Hong Kong and Macau, respectively, and are called the Hong Kong Monetary Authority and the Monetary Authority of Macao.

In China, the official currency is the Chinese Yuan (CNY). Ten CNY is 1.38 US Dollars, or in euro is 1.26. That is 114.10 Indian Rupees or almost 1.83 Canadian Dollars.

Most websites or apps linked below are in Chinese and English. Use Google TranslateTarjimly, or any other translation service if you need it.

Chinese bank structure

The People’s Bank of China (PBoC), China’s central bank, was the only organization allowed to operate in the nation. In the early 1980s, the government enabled five state-owned specialty banks to take deposits and do banking.

The Chinese government founded three other lending-focused banks in the mid-1990s. The ADBC, CDB, and EXIM Bank of China are policymakers.

The public owns varied amounts of the specialized banks’ IPOs. The Chinese government owns most of the banks despite these IPOs. More than 100 city commercial banks and 12 joint-stock commercial banks operate in China.

China’s rural communities have their banks. Foreign banks could open branches in China and make strategic minority stakes in numerous state-owned commercial banks.

How to choose a bank in China

When choosing a bank in China, several factors must be considered.

Reputation and stability

Choosing the best bank in China means finding one with a solid reputation and stability. This way, you can trust that your finances are in good hands.

Products and services

Choose a bank based on account needs. Basic accounts like savings and checking are standard, while full-service banks offer advanced options like credit cards, loans, and investments.

Size of the bank


Most Chinese banks offer their services at reasonable fees. Fees vary greatly depending on the bank so you can explore them accurately.

Financing costs

If you want to grow your money in a savings account or other savings vehicle, seeking higher interest rates is essential to optimize your savings efforts. One strategy to accomplish this is to compare the rates multiple banks offer.

Customer Service

When choosing a bank, it’s essential to consider client support and your financial needs. Look for a bank with helpful tools and features that fit your requirements and preferences.


Considering these factors, you can narrow your options and choose a bank that meets your financial needs.

List of the best banks in China

You have several alternatives in China, and which one you choose depends on your requirements and interests.

Here are some of the best banks in China that you should consider:

Majors banks in China

Bank of China

Industrial and Commercial Bank of China

China Construction Bank

Agricultural Bank of China

Bank of Communications

Postal Savings Bank of China

International Banks

Bank of East Asia


DBS Bank

Hang Seng Bank


Standard Chartered

Digital Banks in China




Bank Charges in China

The first deposit into your new bank account is the final necessary item. Typically, this ranges from 10 to 20 CNY, or around $1.50 to $3.

However, it might be more or less, so you should probably bring some spare cash to the bank.

China money transfers abroad

You may send money overseas from China using several different websites and services.

There are some options for sending money abroad:

Using a bank transfer.



Western Union 

Alipay International 

Google Pay 

How can I open a bank account in China

To open a bank account in China, you need:

To choose a bank.

Opening a bank account is an option both online and in person.

You need to get all the documents that are required.

For more information:

Go to:

How to open a bank account in China

How to find a cash machine in China

Talk to anyone who may have traveled or worked in China. You will find that some of your friends or family know the nearest bank branches. Ask around and find opportunities among your contacts. An easy tool for doing that is any map app. Below is, for example, a Google Maps search for “ATMs near Shanghai.”

Source: Wikipedia

The cover image is in changsha, China. Photo by yang miao on Unsplash


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