The Yiwu market’s bank
Chouzhou started in 1987 as a credit cooperative at the Yiwu market — the world’s largest wholesale hub for small commodities.
Bank account opening
Bank account openingA Zhejiang Chouzhou Commercial Bank account for a foreign company
Zhejiang Chouzhou Commercial Bank opens an NRA in USD and EUR for a foreign company — through a representative, with no trip for the director: the director confirms the intention by video, the representative goes to the bank, and the account is opened the same day. Yuan — in a separate account, during the director’s visit.
- On the day of the visit
- Account and tokens — when the representative comes to the bank
- 7–10 working days
- Special code for the company’s first NRA account
- CNY 200
- Account opening; a foreign currency account also costs CNY 200 a year
- 0.2%
- Foreign currency transfer from the NRA — minimum CNY 50 plus a message fee
Other banks in China
In short
Zhejiang Chouzhou Commercial Bank opens an NRA account in USD and EUR for a foreign company without the director travelling: the director confirms by video, a representative visits the bank and the account opens the same day. Opening costs CNY 200; a foreign currency transfer from the NRA is 0.2%, minimum CNY 50.
Checked 18 October 2026 · Elizaveta Germash
Cost of a mistake
Account closure
Money from a payer the bank deems in breach is a reason to close or restrict the NRA account — which is why payers are checked in advance.
How to avoid itChouzhou — an account without a trip, if every document is in order
Chouzhou grew out of a credit cooperative at the Yiwu market — the world’s largest wholesale hub for small commodities — and today works with nearly 1,000 banks in more than 120 countries. It opens an NRA in USD and EUR for a foreign company through a representative: a video call with the bank is enough for the director. In return, the bank asks for detailed documents — down to bills of lading, a 6-month statement and the director’s personal seal.
Video instead of a trip
The director confirms the intention to open the account on video with the bank’s manager, the representative goes to the bank — the account and tokens are issued on the day of the visit.
Yuan — separately and in person
The NRA is opened in USD and EUR; a yuan account is separate and only during the director’s personal visit: it can’t be opened remotely.
Deals on paper
Contracts, invoices and bills of lading with buyers and suppliers, a 6-month account statement: the bank looks at real trade.
A backup account in Asia
No limits on transfers and balances, with simplified changes of directors and articles in future — convenient as a second channel if another bank imposes blocks.
Expert tip
A company’s first NRA account requires a special code — it takes 7–10 working days. Build this into the plan before the representative’s visit.
Elizaveta GermashLawyer · Bank accountsWho it suits
Who it suits — and when to choose something else
A good fit if
- 01You need an account in China without the director travelling — a video call with the bank is enough.
- 02You trade with Chinese suppliers and can show contracts, invoices and bills of lading.
- 03You need a backup account in Asia — with no limits on transfers and balances.
- 04The company is from Hong Kong or elsewhere — with no company of its own in China.
- 05You want the option to change a director or the articles later without lengthy procedures.
Consider something else if
- 01Turnover is from USD 1 million a month and you need a main account with letters of credit — OCBC in Shenzhen opens an NRA with no link to Asia.OCBC
- 02You need a yuan account without a trip — Chouzhou doesn’t open one remotely, only during the director’s visit.
- 03There are no transactions or statements yet, and you need to pay this week. A payment platform is set up in 3–7 working days.Payment platforms
- 04You need Stripe or PayPal — they can’t be connected to an NRA account.Hong Kong
- 05You can’t arrange the director’s personal seal and two Chinese SIM cards in real names — the account can’t be opened without them.
Benefits
What you get
Let’s discuss the details
The director can’t come to China?
We’ll assemble the package to the bank’s list, prepare the director for the video call and arrange the representative’s visit — the account is opened on the day of the visit.
Who does what
The director is on a video call; the representative goes to the bank
How an NRA is opened at Chouzhou without the director travelling. Timelines based on our practice as of October 2026, from a complete document package.
From you — documents to the bank’s list, the director’s personal seal, two Chinese SIM cards and the director’s video call with the bank. No need to travel to China.
A yuan account is opened only during the director’s personal visit — it can’t be opened remotely.
Documents
What to gather for Chouzhou — to the bank’s list
The list is for a Hong Kong company: the bank expects many originals. Tick what you already have — we’ll send the manager whatever is missing as one list.
Information
Documents
Ready
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For a company from another country, we confirm the equivalent documents with the bank before submission. The director’s passport and the articles — with a Chinese translation.
Timing and budget
What makes up the budget
Amounts follow Chouzhou’s 2026 price list: indicative as of October 2026, the bank has the final say. Correspondent banks and the beneficiary’s bank charge their own fees on top.
- Account openingDepends onCNY 200 per account, in yuan or foreign currency.WhenAt opening
- Foreign currency account feeDepends onCNY 200 a year.WhenAnnually
- Dormant accountDepends onIf there have been no incoming or outgoing payments for 6 months or more — an extra USD 10 equivalent a month on top of the account fee.WhenMonthly
- Transfer from the NRA abroadDepends onIn foreign currency — 0.2% of the amount, minimum CNY 50, plus a message fee; in yuan — 0 to 2% of the amount.WhenPer transaction
- Transfer from the NRA to another bank in ChinaDepends onIn foreign currency — 0.2% of the amount, minimum CNY 50, plus a message fee.WhenPer transaction
- Transfer within ChouzhouDepends onIn foreign currency between branches — 0.1%, CNY 50 to 1,000, with no message fee; within one branch — free.WhenPer transaction
- Bank message feeDepends onCNY 10 within China, CNY 80 to Hong Kong, Macau and Taiwan, CNY 150 to other countries.WhenPer transaction
- Online bankingDepends onCertificate — CNY 160 a year, security device — CNY 50. Until 1 October 2027 the certificate is free of charge, except for the first year in Yiwu, and the first device is issued free.WhenAt opening and annually
- Seal, SIM cards, translations, our supportDepends onThe director’s personal seal, two Chinese SIM cards, translation of the passport and articles into Chinese, our work on the package and the representative’s visit.WhenBefore submission
After opening
What the company will have on the day of the visit
NRA account in USD and EUR
Zhejiang Chouzhou Commercial Bank
A non-resident account with the NRA prefix before the number — for settlements with suppliers and buyers, with no limits on transfers and balances.
On the day of the visit
Tokens
Chouzhou
Normally two — issued together with the account.
On the day of the visit
Special code
China’s foreign exchange regulator, via the bank
The company’s code in the system of China’s foreign exchange regulator: assigned once — no new one is needed for later accounts.
Yuan account
Chouzhou
Opened separately and only during the director’s personal visit.
Online banking and app
Chouzhou
A mobile app for companies — in Chinese and English; contact with the bank is via WeChat.
Getting it right
Common mistakes — and how to avoid them
Click a card to see how to do it right · 0 of 6 open
01 What people often do
Counting on opening a yuan account remotely together with the NRA.
02 What people often do
Leaving the director’s personal seal and SIM cards to the last day.
03 What people often do
Scheduling the representative’s visit before the special code is issued.
04 What people often do
Showing the bank only the articles and a statement.
05 What people often do
Accepting money from any payer without checking.
06 What people often do
Sending copies where the bank expects originals.
FAQ
Expert answers
Elizaveta Germash — Bank accounts
Yes, an NRA in USD and EUR. The director confirms the intention by video with the bank’s manager, the representative comes to the bank with the documents, and the account is opened the same day. A yuan account can’t be opened this way — only during the director’s personal visit.
Elizaveta Germash · Bank accountsSources
- Zhejiang Chouzhou Commercial Bank — 2026 price list
- Chouzhou Bank — NRA non-resident account
- Chouzhou Bank — about the bank
- Chouzhou Bank — historical imprint
- Chouzhou Bank — branches for foreign-currency business
- Chouzhou Bank — news on its correspondent network (September 2026)
Deadlines, amounts and rules are based on these sources as of the check date. Rules change: check with us before deciding.
Often goes with this
What else you may need
Next step
Is the company ready for a Chouzhou account?
Tell us about the company, its counterparties and payment currencies. We’ll check the documents, seals and proof of business activity against the bank’s list and say whether the account can be opened without a trip.
Elizaveta GermashLawyer · Bank accounts