how to open a bank account in china

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If you’re going to spend a decent amount of time in CHina, it probably makes sense to open a bank account there. You should open one if you plan on earning any money while over there, as it’s not the best idea to have cash stuffed in your pillow. Even if you have a foreign bank account, you won’t be able to deposit the yuan you earn in there as your account will be denominated in a different currency.

Fortunately for you opening a RMB denominated account is actually a straight forward process. You should only need your passport and yourself. If you have other supporting documentation like a local address, letter of employment and a Chinese friend, none of those would hurt your attempt.

You may be tempted to head to the local branch of a foreign bank. Most foreign banks now have branches in major Chinese cities, but most of them also have fairly substantial minimum balance requirements you will need to fulfill to avoid paying maintenance fees. If you pick a local bank, there are usually very low to no minimum balance requirements.

When you get to the bank, ask if someone speaks English. It may take an extra ten minutes to find that person who speaks English, but it’s worth your time to get this right the first time. You should also make sure you’re signing up for a checking account, and ask if you can get a debit card too. They are becoming more and more common in China in major cities. If you’re in the boonies it’s still almost totally cash.

As far as which bank you should choose, you have no shortage of options in CHina. Shanghai literally has more bank branches than any other city I’ve ever visited. Some of the biggies are Bank of China, ICBC, Construction Bank of China, Agricultural Bank of China, the list goes on and on.

One important thing you should know. If you are changing money from your local currency to Chinese RMB and depositing it, you’ll have very little trouble. If at any point you need to reconvert that currency to something else, all bets are off. Technically foreigners are allowed to convert 500 dollars per day, but must be present at a local branch and bring their passport. Even this requirement is spotty however. Some branches won’t let you do it at all, some don’t enforce any limits or ID requirements. It will be infinitely easier for you if you can bring a Chinese friend along. They don’t face the same restrictions you do as a foreigner and will probably be able to get the job done in a tenth the time.

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Hot to buy a cell phone in china

Image by Gabyu

In China there are two ways to get a cellphone – the easy way and the bureaucratic way. The bureaucratic way involves taking yourself and your passport down to a China Mobile shop, filling out a ton of paperwork with someone who doesn’t speak English, and then finally getting your SIM card and/or new phone.

The easy way, the way I recommend? Instead of buying a cell phone in country, just buy a cheap unlocked GSM phone at home before you arrive. Even though every phone in the world is made here, it’s still probably just as cheap to buy a basic unlocked model at home – and there is WAY less paperwork.

Now for your SIM card. Instead of walking into China Mobile, were going to your friendly local grey market vendor. Now don’t worry – the SIM card and credit you’re going to buy are totally legit. The benefit for us is that there is no paperwork involved, there’s no “take a number and wait” system, and the whole process takes less than 5 minutes.

You’ll find these stalls at many different locations – bus stops, subway stops, outside official China mobile locations, restaurants, etc. etc. Even if you speak no Chinese, you can still get through this process. Here’s how it works.

1. Walk up to your vendor and present your cell phone. Show them it’s missing a SIM card. They’ll get what you need.

2. The vendor will next likely present you with a fan of envelopes. He’s asking you to pick a number for your phone. If you care to decipher the Chinese you can go through the available numbers. If you don’t care, just point at one.

3. I always present a 100 yuan note when buying a SIM. The SIM card itself costs 25-35 yuan, and the balance will be placed as credit on your card.

4. Pass your phone over to the vendor. Let him put the SIM card in, activate t

he card, and put the balance of your payment as credit on the phone.

5. After that, you’re done. You have a fully operational Chinese cell phone!

Please note that the above procedure is probably not encouraged by the government. They always want you to present your passport in an official establishment when you take a breath in China. I’ve never had a problem though, and vendors are willing to go out of their way to help you if you don’t speak the language.

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USA Pavilion Website Banner and Sponsors

USA Pavilion Global Sponsors

There weren’t many pavilions with more drama surrounding them than the USA pavilion at the World Expo. There were grave doubts for a long time about whether the United States would even be present at the Expo. It took a warning from the Chinese government that there would be serious repercussions in our relations for a last ditch effort spearheaded by Secretary Clinton to finally get us a building at the Expo.

Now what are the results? Organizers promised a Hollywood style movie going experience that would show off the essence of America. Each visitor is treated to a series of three different movies as they work their way through the pavilion. The first is a humorous few minutes showing Americans trying to say “ni hao” with very limited success. The next film is a pseudo-documentary of American values with interviews of children, prominent business executives, and Secretary Clinton and President Obama. The final film is a wordless short story with the basic theme being cooperation for a better world.

The three films were all well and good at trying to show that Americans want to be partners with the Chinese in developing green energy and sustainable economies. What the organizers didn’t intend on doing was communicating a far clearer message about America: everything here is for sale.

The Pavilion sponsors are prominently featured throughout the pavilion. When you first enter, there is a massive wall with dozens of corporate logo’s thanking them for their generous donations. For comparison, many hoer countries had corporate sponsors and thanked them in a similar way, but that is where it stopped.

Not in the USA pavilion though. The magic of product placement suddenly found public relations reps from the top sponsors speaking in the documentary style movies about questionably related items. You saw a Chevron executive talking about how his company is leading the way in green energy (despite their somewhat conflicting interest in oil drilling). A female executive from PepsiCo talked about what it means to be a healthy American family, even as she sells sugary drinks to kids in public schools. I literally winced each time one of these people came on screen, knowing they had paid for the ability to say whatever their branding guidelines determined was appropriate.

Thinking the worst was over, I was relieved to be done with the best of American cinema [sic] and head into the hall that in most countries displays their latest technology, sustainable development projects, facets of their people and history, really anything. Instead I was confronted with what can only be described as Time Square hall. The walls were lined with bright advertising displays from the corporate sponsors of our pavilion. FedEx, American Airlines, GE, Pepsi, the list goes on and on. Several feelings flowed through my body in a crescendo of anger: shock, embarrassment, offense and resentment.

Is this the best America has to offer? Is this what we really want China’s experience with the USA to be? I was dumbfounded. It makes me mad even now just thinking about it. America has so much more to share than we showed off at this pavilion. Why not showcase the ingenuity and creativity of our startup culture? Show new companies changing the world through business means. Why not show some of our founding documents with their dramatic and powerful language of equality and prosperity for all? If you want to stick with the Hollywood theme of the pavilion, why not have a display with the highlights of the best of American cinema and music? Really anything would have been better than selling the floor space to these corporate “donors”.

To be fair to the organizers here, I believe they probably did the best they could with the time given them. It’s shameful enough they were put in this position and is a tribute to the ambivalent attitudes of those approached years ago to begin planning for this event. In addition it’s clear any pavilion America constructed here does our country far greater good than not having any representation. Such a slap in the face would have seriously damaged Sino-US relations.

My greatest concern with the pavilion is that it portrays the US not as one nation but instead as a collection of corporations and individuals. Now we are definitely a melting pot of different ethnicities and backgrounds, but that wasn’t the message communicated. Instead we sold floor space piecemeal to the highest bidder and gave them their own mini exhibit at the Expo. If corporations wanted to exhibit here there is an entire bank of the river dedicated to them, they only had to build their own pavilion.  Instead they were presented as an integral part of our culture, which they indeed are, but not nearly so much as this exhibit leads visitors to believe. The bottom line is that I left the USA pavilion with the impression that money gets you anywhere in America, overpowering the genuinely collaborative and worthy message the films inside portrayed.

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Whenever we travel to a new city we always like to stay in an apartment. It saves us a ton of money, usually comes with free wifi (can’t live without that now can we?) and gives us a much better feel for what it’s like to actually live full time in a place. In the video above I show you exactly how we go about doing that. Watch the video now, continue reading this afterwards.

Why do I like Lonely Planet ‘pins” as my data points? In general I like their location recommendations. They usually list shops and restaurants that are reasonably priced, representative of both new and old parts of the city, and are foreigner friendly. Sometime their listings can be out of date or just have the wrong address, but it’s not specifics I’m interested. It’s the clustering effect the maps reveal that really shows me which kind of areas I should be looking at. Since I know I like the areas they recommend in general, I also look at their maps in a general sense and then get really specific when I know exactly which apartments are available.

We’ll coming out with a lot more videos helping you pick which places to stay in cities we’ve already been to. There’s no sense in reinventing the wheel. If we have a recommendation for a particular area, we’ll share it with you.