PNC China

Shanghai Representative Office

How PNC Can Help You Succeed in 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.

Our Strategic Approach

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. 

Solutions to Help You Succeed

PNC Multicurrency Accounts

PNC's multicurrency accounts can help you easily manage and move money denominated in different currencies without the need to open accounts with foreign banks.

  • Streamline your Chinese cash flow by setting up a demand deposit account (DDA) that holds Chinese renminbi instead of U.S dollars.
  • Easily view deposit and withdrawal details through PINACLE®, PNC's top-rated online corporate banking portal.

PNC’s Import & Export Services

Support and simplify your international commercial goods purchases and sales. PNC’s Import and Export services can help you:

  • Streamline document exchange.
  • Reduce payment or collection risks.
  • Facilitate your financial transactions.

 

RMB Payments Capability

PNC offers the ability to initiate and receive cross-border payments in the RMB currency.

  • RMB payments may be initiated from and received into a USD demand deposit account or PNC multi-currency accounts, including in the RMB currency.
  • Foreign Exchange hedging solutions are available to mitigate risk associated with currency fluctuations.
     

China Banking Referrals

PNC can help you open and manage accounts with a local banking institution in China.

  • Tailored referrals to local banks based on your needs
  • Assistance moving through the process of obtaining financing from banks in China
  • Support with local banks — payments, RMB settlement, letters of credit and documentary collections

Deep Local Knowledge

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

China Ideas, Insights & Solutions [2]

Tome decisiones informadas y saque el máximo provecho de su empresa con perspectivas
de los profesionales de PNC sobre los principales problemas financieros.

Volverse internacional

Apertura de una cuenta bancaria en la China continental

Para las compañías extranjeras que tienen subsidiarias en China continental, la apertura de una cuenta bancaria implica comprender las opciones y las diferentes regulaciones correspondientes a cada una.

Volverse internacional

Hacer negocios en China: cómo repatriar las ganancias

En el caso de las empresas establecidas en China, hay consideraciones importantes para determinar la estrategia óptima de repatriación de beneficios.

Volverse internacional

Lo que necesita saber sobre las prácticas bancarias en China

Si usted es nuevo haciendo negocios en China, puede encontrar que abrir una cuenta bancaria es un poco más complicado de lo que podría esperar.

PNC Shanghai Representative Office

Grace Zhu
Chief Representative

Jenny Xu
Deputy Representative

Contáctenos

Please contact your PNC relationship team for more information on PNC's capabilities in China and our Shanghai Representative Office.