Originally Posted by
tkflyer
We currently have an US based LLC company and bank with HSBC. I'd like to open a local HSBC business account to receive and pay domestic RMB payments respectively.
Does anyone know if this can be done and what paperwork is required?
We have a HK LLC and also bank with HSBC, but we found that there was almost no advantage to using HSBC for domestic transactions (that run through our WFOE). Instead we use Bank of Ningbo plus a handful of personal accounts. While the Bank of Ningbo may well be a childish operation when compared with HSBC, it and its ilk are cheap wrt fees and pose minimal red tape.