Shenzhen Seminar Helps Expats Navigate Banking Challenges
Shenzhen, June 25, 2024 – A seminar aimed at addressing common banking challenges faced by Shenzhen’s foreign residents was held yesterday at the Shekou Foreign Legal Assistance Center in Nanshan District. This event is part of the center’s “One Month, One Topic” seminar series, designed to help expats understand the laws and policies they encounter while living in the city.
Jointly organized by the Shekou Management and Service Center for Expats (Shekou MSCE) and the Bank of China Qianhai Shekou Branch, the seminar focused on enhancing expats’ comprehension of Chinese policies related to personal banking. Topics included procedures for opening bank accounts, easy payments, anti-fraud regulations, and individual salary exchange for foreign currencies.
During the session, representatives from the Bank of China Qianhai Shekou Branch explained the necessary documents and certificates expats need for banking transactions. The seminar also featured an interactive Q&A session, allowing participants to address their specific concerns.
Houshang Fathi (in yellow) asks a question during the lecture in Shekou yesterday. Courtesy of Shekou MSCE
Canadian Philippe F.V., a professor of computer sciences at Shenzhen University, expressed his interest in understanding international money transfers. “It’s a rather complex process, so I’d like to find out more,” he told Shenzhen Daily before the seminar. Afterward, he commented, “It did answer my questions, and the lecture was great.”
Nadine Naidoo, a South African teacher at a public school in Shekou, was keen to learn more about online banking. “I have the app of Bank of China, but I can’t do very much with it except checking the balance. So, I’m looking forward to finding out how to use [the app],” she said. Post-seminar, Naidoo remarked, “It’s very informative, and their presentation was straightforward and easy-to-follow, with all the major points clearly highlighted on the slides, which clarified the often complicated banking regulations.”
Naidoo, who has lived in China for seven years, noted significant improvements in facilitating payments for expats. “When I first came it was rather difficult,” she recalled, adding that now foreign bank cards are widely accepted and can be integrated with mobile payment services such as Alipay.
The Shekou Foreign Legal Assistance Center, the first comprehensive multifunctional platform in Guangdong Province for foreign-related public legal services, offers a variety of services. These include legal consulting, notary services, mediation, visa and tax consulting, and intellectual property consulting. The center regularly invites lawyers, notaries, and other professionals to address the most pressing questions from expat residents.