The corporate banking system in China can be somehow complicated. Before deciding which local or international institution your company will be banking with, there are a few practical aspects to be considered
that will hopefully make the process easier. The first step, if your company finds itself in the pre-investment stage, is to select a banking partner in China. Before any bank commits to working with your entity, they will have to go through an extremely thorough KYC process (Know Your Client process), which is basically a background check on you as an individual and as a corporate entity. Prior to taking you as a client, the bank will want to know your history, what you're doing in China and who are the beneficiary owners of your structure, among other details. This information is mandatory and necessary to move forward in the banking process.
When choosing a bank, it is relevant to understand your company’s needs, such as a future loan, and the nature of your business in China.