PNC China

PNC provides on-the-ground support to help U.S. companies navigate local banking and payment practices.

Many of our clients buy from, sell to or operate locally in China. As the market becomes more complex with local rules, treasury management and payment practices — as well as increased risks — clients are looking for guidance.

US companies doing business in China tend to encounter the following challenges:

• Understanding local banking rules and regulations
• Using RMB vs. USD
• Managing payment risks
• Setting up local accounts and treasury management services
• Repatriating funds to the US

PNC’s value is our knowledge base of the local banking practices, as well as the ability to refer our clients to local banking partners. PNC works with the big four banks in China and many of the top regional banks. 

The Shanghai-based SRO team members have deep local knowledge, are fluent in both Mandarin and English and are backed by decades of experience in the banking industry and with PNC.

The SRO team:

• Offers support on selecting and opening local bank accounts
• Advises on the processes and intricacies of payments and TM services in China
• Connects clients with parties that can assist with banking and other China-related issues — including status of wire transfers, documentary collections and standby letters of credit
• Provides guidance on China's banking regulations and market/business environment
  • Publishes thought leadership pieces on a myriad of nuanced topics impacting clients in the local market
  • Coordinates with clients regarding local market visits and briefings, as well as bank and non-bank (e.g., accounting firm) referrals