China Construction Bank Overview
Established in 1954 and primarily under the ownership of the Chinese government, China Construction Bank (CCB) is a prominent banking institution in the People's Republic of China. As of 2023, CCB is recognised as the world's second-largest bank by total assets. Its subsidiary, China Construction Bank (Asia) Corporation Limited, also plays a vital role in Hong Kong, providing a wide range of banking services.
China Construction Bank (Asia) offers a comprehensive array of commercial banking services, encompassing consumer banking, where they provide a range of options, including loans, investments, insurance, and through the CCB (HK&MO) mobile app. In terms of commercial and corporate banking, CCB caters to businesses of various sizes with services such as diverse loan types, trade finance, and wealth management.
In recognition of their contributions to sustainable finance, CCB (Asia) has been awarded five awards at the 'Hong Kong Green and Sustainable Finance Awards organised by the HKQAA. These awards highlight CCB (Asia)'s dedication to promoting sustainable development in the financial sector.
| Key Information | Description |
| Eligible Countries | Mainland China, Taiwan, and Hong Kong (Other countries and regions may apply but are subject to review by CCB (Asia)) |
| Eligible Company Types | All business types |
| Initial Deposit | No information available |
| Account Opening Fee | For Hong Kong company: HKD 10,000 + HKD 300 per search For overseas company: HKD 30,000 + minimum of HKD 2,000 per search |
| How Long Does It Take to Complete the Application? | Within 20 minutes, if all required documents are ready. |
| Average Opening Time | For Hong Kong sole proprietorships, partnerships, and single-layer limited companies: As fast as 1 business day Other legal entities: No specific timeframe provided |
| 100% Online Application | No, a physical visit is needed to sign a contract or agreement related to opening your account. |
| Key Things to Know | Relatively high account opening fees, especially for smaller businesses compared to other traditional banks in Hong Kong. |
| Best CCB Alternative | Statrys: Is a virtual multi-currency account provider in Hong Kong, with over 3,500 SMEs already using Statrys. It is fast, secured, and cheaper than traditional banks. |
Types of Accounts Available
CBB offers personal and business bank accounts. Let’s get into the details.
Personal Account
- Saving Account: The account offers simple interest that accrues daily and is paid monthly. Customers can choose to save money in one of the 11 supported currencies, which include HKD, USD, RMB, GBP, CAD, AUD, NZD, JPY, CHF, EUR, and SGD. Also, a minimum opening deposit of HKD 1,000 or equivalent is required. Lastly, the account comes with an applicable UnionPay debit card, which is compatible with ATMs worldwide.
- Checking Account: Clients can open checking accounts in RMB, HKD, and USD with minimum deposits of HKD 1,000. An RMB checking account can issue cheques in Guangdong province, China, while an HKD checking account comes with a UnionPay debit card.
Business Account
Key features of CCB business account:
- Saving and checking business accounts in HKD, RMB, and USD.
- Time deposit accounts with tenors range from 7 days up to 1 year.
- Send and receive HKD and CNY instantly through the Faster Payment System (FPS)
- UnionPay business credit cards offer a 1.5% monthly rate for retail purchases and cash advances.
- Batch payments
- All-in-one ERP solution
- Manage payroll automatically to streamline operations
- Bill payments
- Loan services for businesses of all sizes
However, this article will focus exclusively on opening a business account with CCB in Hong Kong.
Eligibility for CCB Business Account Opening in Hong Kong
We will help you check eligibility criteria to help you streamline your account opening process.
Country Eligibility
Companies registered in Mainland China, Taiwan, and Hong Kong are eligible to apply for the CCB business account.
However, we couldn't find the full list of eligible countries and territories on the CCB website. Therefore, if you require further information, please contact the CCB team directly.
💡Tip: Plan to open your Hong Kong business? Check out our article to learn the best way to set up a company in Hong Kong.
Company Type Eligibility
Legal entities that are allowed to open CCB business accounts are:
- Limited Company
- Sole Proprietorship
- Partnership and unincorporated bodies
- Listed Company
- Government and public body
- Club / Society / Association
- Trustee
What Documents Do I Need to Open a CCB (Asia) Business Account?
The full list of your required documentation depends on your business entity. However, we provide an overview of the documents that the China Construction Bank (CCB) in Hong Kong mandates for submission alongside the application form.
- Certificate of incorporation
- Business registration certificate
- Valid certificate of incumbency
- Memorandum and Articles of Association (M&A)/ Articles of Association
- Account mandate and account application form
- Detailed description of the nature of business/activities.
- Ownership structure chart
- FATCA and CRS-related certificates
- Personal information of key individuals (Proprietors, Partners, Directors, Trustees, etc.) and Ultimate Beneficial Owner including ID card or passport and proof of address
For detailed information, please refer to the required documentation for opening a corporate account on the CCB website.
Application Forms and Useful Resources:
After gathering all required documents, make sure to fill out both the business account application form and the supplementary form.
For more information regarding the application form, please contact the CCB team directly.
How To Open a CCB Business Account
CCB offers business clients an online account opening via the website 24/7. Here are the steps to complete the application.
- Access to the registration page
- Fill in your personal information (i.e., name, business email, and mobile number)
- Enter a 6-digit SMS verification code
- Complete the customer information (i.e., company name, company address, and your business entity)
- Upload your documents
- Submit the form.
The application process can be completed within 20 minutes, provided that you have all the necessary documents ready.
If you need to pause, you can resume your application using the reference number sent to your email.
After submitting your online application, the CCB team will contact you to either schedule a signing appointment or request additional information from you.
How Long Does it Take to Open a CCB Business Account?
According to CCB, business accounts can be opened in as fast as one business day for Hong Kong sole proprietorships, partnerships, and single-layer limited companies.
This requires applicants to have a Hong Kong Identity Card and depends on successfully scheduling a document signing appointment and the bank's confirmation of receiving all required documents.
For businesses with a more complex structure, the account opening process will take longer, though CCB does not specify an exact timeframe.
Finally, upon successful application, you will gain access to their online banking service to manage your company's finances.
How Much Does It Cost to Open a CCB Business Account?
| Hong Kong Company | Overseas Company | |
| Account Opening Fee | HKD 10,000 | HKD 30,000 |
| Company Search Fee | HKD 300 per search | Minimum of HKD 2,000 per search |
| Initial Deposit | No information available | No information available |
How to Contact CCB Customer Support?
CCB team in Hong Kong can be reached through multiple channels, including
- Query form
- Hotline
- Live Chat (Monday - Friday 8.30 - 18.00 HKT, except for public holidays)
- Chatbot
- Visiting branches
- Post: P.O. Box 133, General Post Office, HK
Alternative Solution: Statrys
Hong Kong is a global financial hub known for its extensive range of financial and banking services. Among these options, Statrys stands out as a notable alternative for small and medium-sized enterprises (SMEs) and entrepreneurs.
Established in 2019 by Bertrand Theaud, Statrys is a fintech firm dedicated to enhancing payment solutions for SMEs. The firm has been recognised for its outstanding services, receiving the "SME Payment Solutions of the Year - Hong Kong" award at the 2023 ABF Retail Banking Awards.
As a Money Service Operator in Hong Kong, Statrys offer multi-currency accounts, supporting 11 major currencies to companies incorporated in Hong Kong, Singapore, and the British Virgin Islands (BVI).
Statrys Services
| Key Features | Description |
| Multi-Currency Business Account | Hold, receive, and send money in 11 currencies: USD, HKD, CNY, AUD, EUR, GBP, SGF, JPY, CHF, NZD, and CAD. |
| Business Account Opening Requirements | Must be incorporated in Hong Kong, Singapore, or the BVI. |
| Business Account Opening Time | 3 days on average |
| Initial deposit | HKD 0 |
| Account Opening Fee | HKD 0 Except for special companies registered outside Hong Kong, Singapore, the BVI or companies with complex structure |
| Monthly Fee | Free (if 5 or more outgoing transfers made in the month) |
| Customer Support Channels | Website, Live Chat, Email, Phone, WhatsApp, and WeChat |
| SWIFT Payments & Tracking |  |
| Local Payments | Send local payments in 14 currencies: HKD, AUD, EUR, GBP, IDR, INR, KRW, PHP, SGD, THB, TRY, USD, and VND |
| Payment Cards | Virtual and physical business cards with built-in controls to manage expenses |
| ATM cash withdrawals | |
| FX Rate and Fee | Competitive exchange rates with fees as low as 0.15% (spot and forward contracts) |
| Xero Integration | |
| Free Invoicing Software | Create, manage, and send invoices efficiently |
| Company Registration Service | 100% online Hong Kong and Singapore company registration. |
| Trustpilot Score | 4.6/5, based on 254 Statrys reviews on Trustpilot |
FAQs
What is the China Construction Bank (CCB)?
CCB is one of the biggest Chinese banks, which was established in 1954, offering an array of banking services for individuals and businesses.
What services does the China Construction Bank business account offer?
What are the documents needed to open a business bank account in Hong Kong?
How much does it cost to open a CCB business bank account?
How long does it take to open a business bank account with CCB in Hong Kong?
Can I open a CCB business account online?
Disclaimer
Statrys competes directly with China Construction Bank in the payment industry. However, we're committed to providing an unbiased, thorough review to help you make an informed choice.
