The Bank of China and CITIC Industrial Bank provide personal and corporate banking facilities for expatriates in China, as do the two main foreign banks, HSBC and Standard and Chartered. The main branches of China's other banks may also provide such services, but their banking facilities are likely to be more limited.

To open a current or savings account you usually just need to complete a signature card, show your passport as identification, and make the appropriate deposit (varies depending on bank and type of account).

The banking system in China is slow and there are some restrictions on the services available. For example, 24 hours notice is needed to withdraw the equivalent of USD 5,000 or more (Bank of China) or USD 10,000 or more (CITIC). It takes several weeks to cash a bank draft drawn on a foreign bank.

There is a wide network of ATMs throughout China's main cities. HSBC and the Commercial Bank of China's networks are now linked in Guangzhou and Shanghai, so customers can use the ATM of either bank. ATM facilities include cash withdrawals, transfers, balance enquiries and cheque book or statement requests.

Banking hours are usually from 9 a.m. to 4 p.m. or 5 p.m. on Mondays to Fridays, but some close for an hour from 12 noon to 1 p.m.

Employment contracts specify what percentage of an expatriate's salary can be changed to foreign currency.