Foreigners can open bank accounts in most banks in China.
The process is fairly straight forward. A passport is required. In addition, different banks may require different amounts of minimum deposits when opening an account, which can be 100 CNY to 300 CNY. When you successfully open an account, you will get a bank card, or a passbook for time deposit. You can use the card to withdraw money from the ATMs.
Here are China's five largest Banks
BANK OF CHINA
Bank of China Ltd. (BOC) is one of the big four state-owned commercial banks of the People's Republic of China. As the most internationalized and diversified bank in China, Bank of China provides full range of financial services in China's mainland, Hong Kong, Macau and other 31 countries. It mainly operates the commercial banking business including corporate banking, personal banking and financial market business. It also conducts investment banking business via Bank of China International Holdings Limited, its wholly-owned subsidiary. Total assets: RMB 15,428 billion or approx. USD 2,513 billion (as of September 30, 2014). Net profit: 139.66 billion yuan (2012), 156.91 billion yuan (2013).
AGRICULTURAL BANK OF CHINA
The Agricultural Bank of China (ABC or AgBank, former Agricultural Cooperative Bank) is one of the "Big Four" banks in China. The Bank has branches throughout mainland China, and also in Hong Kong and Singapore. ABC is committed to serving agro-related sectors and dedicated to providing first-class financial services to both urban and rural clients. AgBank is the country's No. 3 lender by assets.
With full international capabilities, an innovated business model and prudential operations, the Bank provides tailored services to communities both at home and abroad. Based on its large physical and electronic network and diversified products, ABC is striving to build itself into a modern universal bank with a sustainable development outlook.
BANK OF COMMUNICATIONS
Bank of Communications Ltd. (BoCom or BoComm) is one of the largest banks in China. The Bank is among the top 5 leading commercial banks in China and has an extensive network of ver 2,800 branches covering over 80 major cities. Apart from Hong Kong, the Bank has also established overseas branches in New York, Tokyo, Singapore and representative offices in London and Frankfurt. BoCom employs nearly 79,000 people worldwide. Total assets: RMB 6,284 billion or approx. USD 1,024 billion (as of June 30, 2014).
CHINA CONSTRUCTION BANK
China Construction Bank (CCB) is one of the largest banks in the People's Republic of China. It's ranked as the nation's second largest and the second largest bank in the world by market capitalization. The Bank has a total of approximately 310,000 staff, and provides comprehensive financial services to its customers. Total assets: RMB 16,736 billion or approx. USD 2,726 billion (as of September 30, 2014). Net profit: USD 20.5 billion (2010).
CCB maintains overseas branches in Hong Kong, Singapore, Frankfurt, Johannesburg, Tokyo, Seoul, New York, Ho Chi Minh City and Sydney. Bank's subsidiaries: China Construction Bank (Asia)Corporation Limited, China Construction Bank (London) Ltd., China Construction Bank International (Holdings) Ltd., Sino-German Bausparkasse Co. Ltd, China Construction Bank Principal Asset Management Co. Ltd, and China Construction Bank Financial Leasing Corporation Limited.
INDUSTRIAL AND COMMERCIAL BANK OF CHINA
Industrial and Commercial Bank of China (ICBC) is one of the largest banks in the world and the largest bank in China by total assets, total employees and total customers. ICBC provides corporate and personal banking, treasury operations, investment banking, asset management, trust, financial leasing and other financial services.
ICBC establishes strong presence by its commercial banking operation and rapid expansion to markets worldwide. ICBC is also a market leader in the country in many business areas of commercial banking.