Posts Tagged ‘banking’

Weird Rules or Laws in China

Living in Beijing for more than 5 years, I’ve heard and lived through my fair share of new changes implemented by the municipal and national government and establishments.  Some are acceptable and fair while some are stupid and ridiculous.

Here are some new rules or laws implemented in China which I’ll live it up to you to interpret if it’s stupid or good:

-  Internet Security  -

To individuals who like to use free wi-fi in public places, you might as well just leave your gadgets at home as the government ordered your friendly places to install an expensive software to monitor internet usage.  This monitoring software costs RMB 20,000 and the establishments has to foot the bill.  Those who refuse and continues to offer this service will be fined RMB 5,000.

I don’t mind them monitoring our internet usage but if they want to install a software, they should offer it for free.  Moreover, they should at least upgrade their mobile network service as even though it’s supposed to be 3G, the only thing I’m picking up from China Mobile is 2G.  Last week, our engineering team was saying that the telecommunications bureau would like to conduct a survey in our building if the people would like to upgrade from 2G to 4G.  I’m just like, they can’t even make their 3G network run smoothly, now they’re upgrading to 4G?  Geez!  Talk about priorities. 

Also, when will they bring back the sites which they’ve blocked because they want to protect children from pornographic and violent web content?  They have a Chinese version of twitter, youtube and Facebook which practically offers the same thing.  Maybe I should pursue my Chinese studies further to use those sites.

 

Banking for Dummies in China – Part 1

bank_of_chinasBanking in China is a daunting and painful process for foreigners. In this post, I will be writing 5 years worth of experience in doing business with the local banks. The top 4 banks in China who also has branches in the hinterlands are Bank of China (BOC), Industrial and Commercial Bank of China (ICBC), Agricultural Bank of China (ABC) and China Construction Bank (CCB). There are other banks which are branching out to more provinces such as Bank of Communication, China Merchants Bank, Shanghai Pudong Bank, CITIC Bank and China Post Savings Bank.

Here are some tips and trivia about banks in China:

  • Most Chinese Banks are open 7 days a week from 9am to 5pm. Banks in office buildings are usually closed on the weekends.
  • Queues are sometimes short but are usually long. Upon entering the bank, make a beeline right away at the number issuer machine. If they call your number and you aren’t there, you will need to take another number.      Read the rest of this entry »