Chong Hing Bank (Hong Kong)

30.10.2019

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Chong Hing Bank is owned by a large Chinese holding Yuexiu Group. Currently, the total assets of Yuexiu are about 650 billion CNY. Yuexiu took 382nd place in the list of “500 largest Chinese enterprises” in 2019. A bank provides a wide range of modern financial services for those, who wish to open a corporate account in China.

A bank has 2 subsidiaries (Chong Hing Securities Limited, Chong Hing Insurance Company Limited), 38 representative offices in Hong Kong, few representative offices in Guangzhou, Shenzhen, Shantou, Macao, Shanghai, San Francisco (USA), some others.

For those, who intend to start a business in China, our experts recommend opening an account with Chong Hing Bank.

Bank overview

If you want to open a corporate account with Chong Hing Bank (Hong Kong), we offer you the following advantages:

It has been operating for more than 70 years;
It provides comprehensive banking and financial services for private/corporate clients, including deposits in HKD and foreign currency, loans, currency exchange, asset management, insurance and other services;
It offers a convenient telephone and online banking, a mobile application with a biometric authentication system, a Mobile Token service;
Website interface in Chinese and English.

Tariffs

If you are interested in opening an account for a company with Chong Hing Bank, we advise you to study in detail the tariff conditions:

Crediting funds into client's account: a limit is 10 million HKD (approximately 1147021,72 EUR) per day. Large deposits are discussed individually;
An initial deposit is not required;
A fee for opening an account is 2250 HKD (260 EUR);
A fee for each online transfer of funds is 140 HKD (13 EUR);
A fee for crediting funds into account is 60 HKD (8 EUR);
There is no fixed monthly fee.

Important nuances

If you are interested in opening an account with a Chinese bank, please note the following:

Opening an account does not require a company registered in China;
To open an account with a bank in Hong Kong, you will need to visit the country in person;
A cost of qualified support in opening an account is 7 500 EUR;
Terms of consideration and approval of the application by the bank are 2-3 weeks.

For more information, you can call YB Case experts and order professional advice on opening an account with Chinese banks. Contacts are indicated on the site.