新闻 - J & K Investment Consulting

Since March 15, 2023, the Chinese government has made further adjustments to the visa and entry policies, of which valid visas issued before March 28, 2020 have been resumed to use. Recently, some applicants asked whether the Chinese Embassy and Consulates-General in the United States can compensate for use suspension of 10-year multi-entry visas past three years (March 28, 2020 to March 14, 2023) due to the COVID-19. The specific arrangements are as follows:

1. U.S. citizens holding multi-year multi-entry visas issued by Chinese authorities abroad before March 28, 2020 under bilateral reciprocity agreements, whose visas temporarily suspended of use between March 28, 2020 and March 14, 2023 due to the COVID-19, may apply for compensation.

However, if a new multi-year multi-entry visa or residence permit has been issued after March 28, 2020, no compensation will be given for the original multi-year multi-entry visa.

2. Applicants may choose whether to apply for compensation after the expiration of their visas. A three-year multi-entry visa can be applied free of charge in compensation. If applicants choose to give up the compensation, a new 10-year multi-entry visa can be applied for with normal charge.

3. Compensated visas shall be applied for in accordance with normal visa procedures and document requirements.

4.The Chinese Embassy and Consulates-General in the U.S. will no longer accept same category visa applications with 10-year multi-entry visas still valid for more than six months. Applicants may choose to apply for compensated visas after the expiration of their original ones.

Shanghai is the "most attractive Chinese city" in the hearts of foreign talents and the "ideal city" for young scientists around the world. In recent years, with the support of the relevant state ministries and commissions, Shanghai has continuously optimized and improved the facilitation measures to attract young foreign talents in terms of work permits for foreigners in China.

Today, we takes you to understand how Foreign College Graduates and Young foreign talents come to work in Shanghai.

Category A Work Permit for Foreign College Graduates and Young foreign talents

Excellent fresh graduates with a bachelor’s or higher degree from the world’s top 10 universities
Doctors in science, technology, engineering and mathematics (STEM) under the age of 40 who graduated from the world's top 200 universities in the recent five years.
Young talent under the age of 40 who are engaged in post-doctoral research in domestic or foreign colleges and universities, scientific research institutes, enterprises, or medical and health institutions.

Tips

Highly-skilled, Sophisticated and Cutting-edge Foreign Talent in Shanghai are accredited Category A foreign talent and may apply for Foreigner’s Work Permit in China (Category A) anywhere in Shanghai. For those who meet relevant requirements, a work permit with a validity period of FIVE years may be granted.

Source: Shanghai pilot accreditation for top-level, highly-skilled,cutting-edge and urgently required foreign talent.

Category B Work Permit for Foreign College Graduates

Foreign fresh graduates who have obtained a bachelor degree or above in STEM (science, technology, engineering and mathematics) in the world’s top 500 colleges and universities and who engage in work related to their professional fields in Shanghai, they may apply for Foreigner’s Work Permit in China (Category B) any where in Shanghai.

Tips

For those who meet relevant requirements, a work permit with a validity period of at least THREE years shall be granted.

Category C Work Permit for Foreign College Graduates

International Students Graduating in China

International students from any of the universities in Shanghai with a bachelor or above degree who intend to work in China (Shanghai) Pilot Free Trade Zone, Zhangjiang National Innovation Demonstration Zone, Lingang Special Area, Hongqiao Central Business District, or any of the five new towns, namely, Jiading, Qingpu, Songjiang, Fengxian and Nanhui, or to be employed by any organization included in Shanghai sci-tech innovation occupation list.
Outstanding international students from any of universities in China with a master or above degree who intend to work in Shanghai.

Foreign Graduates from Any of Overseas Universities

Outstanding foreign graduates from any of world-known foreign universities with a bachelor or above degree, intending to work in China (Shanghai) Pilot Free Trade Zone, Zhangjiang National Innovation Demonstration Zone, Lingang Special Area, Hongqiao Central Business District, or any of the five new towns, namely, Jiading, Qingpu, Songjiang, Fengxian and Nanhui, or to be employed by any organization included in Shanghai sci-tech innovation occupation list.
Outstanding foreign graduates from any of world-known universities with a master or above degree, intending to work in Shanghai.

French Interns and German Interns

French college or university students (including vocational and technical colleges or institutes) who have not graduated or graduated no more than one year ago; German college or university students (including vocational and technical colleges or institutes) who have not graduated but have finished four or more semesters, or those who graduated no more than one year ago.

Tips

• After-graduation period for fresh graduates extended from one year to two years.

International travelers to China can make digital payments at local retailers nationwide by connecting their overseas bank cards to WeChat Pay, or Weixin Pay in Chinese.

Tencent, the developer of WeChat, today announced that the app now accepts international bank cards from major card networks, including Visa, Discover Global Network (including Diners Club), JCB and Mastercard.

After linking their international cards, overseas travelers will be able to easily access Chinese outlets, including small and medium-sized merchants.

Residents of China's Hong Kong, Macau and Taiwan regions can also register for WeChat Pay using their travel documents.

To utilize the digital environment and functionality, WeChat users in the Hong Kong, Macau, and Taiwan regions can also send and receive digital gift money using their WeChat Pay.

When using overseas bank cards to make payments, users may have to pay a 3 percent commission, but Tencent will waive the fees for transactions worth 200 yuan (US$27.86) or less. The specific guidelines and costs may vary depending on the circumstances.

Tencent has been trialing payments with overseas credit cards on WeChat Pay since 2019.

Tencent said that the current step corresponds with the full resumption of international travel and business to China, as well as important international events in the country.

Read the guidelines below for more information.

For foreigners working and living in China, obtaining a debit card issued by a Chinese bank can provide a multitude of conveniences.

Not only does it simplify the process of making deposits and withdrawals, but it also enables you to shop on Chinese websites and seamlessly connect with popular mobile payment platforms such as WeChat Wallet and Alipay.

The accepted visa types for opening a debit card bank account include: residence visa, resident foreign journalists visa, trade visa, long-term stay visa for visiting family members, talent visa, long-term private affairs visa, long-term study visa, employment visa, courtesy visa or diplomatic visa.

Requirements vary depending on different banks or different branches of same banks. Check in advance the specifics and visa eligibility with the bank or branch you'd like to visit.

Here is a general guide on how to apply for a debit card in China as a foreigner.

Choosing a bank

When it comes to applying for a debit card in China, most major domestic banks are suitable for foreigners. However, it's important to note that each bank may have different requirements and limitations for application and usage.

Therefore, it is highly recommended that you consult with various banks to understand their specific eligibility criteria before opening an account. In general, opting for larger banks with a wider network of outlets and convenient services can be advantageous in most situations.

You can also check the fees and charges for using your bank card, such as ATM withdrawal fees, currency conversion fees, or transfer fees. Some banks may offer lower fees or free services for foreign customers.

Here are the customer service hotlines of some major banks, which you can contact for inquiries:

Industrial and Commercial Bank of China (ICBC):

95588

Agricultural Bank of China:

95599

Bank of China:

95566

China Construction Bank:

95533

These hotlines can provide you with information regarding the specific requirements and procedures for foreigners applying for a bank card in different branches. Please note that the contact information for these hotlines may be subject to change, so it's important to verify the latest contact details before making any inquiries.

II.

Documents preparation

Foreigners opening a debit card account in China need to provide at least the following materials:

1. Identity certification documents

To open a debit card bank account in China, foreigners can typically use either a valid passport or a Foreigner's Permanent Residence Card.

It's important to ensure that your passport is valid and not expired when applying for the card.

In addition to a valid passport, foreigners can also use the People's Republic of China Foreign Permanent Resident ID Card or the Residence Permit for Foreigner in the People's Republic of China. The Foreign Permanent Resident ID Card should have a validity period of more than one year, with an expiration date that is more than one month away.

2. Chinese mobile phone number

This is to serve as the bank's reserved contact information. Please note that the number should be registered under a real name on the Chinese mainland.

3. Others

In certain banks, additional documents may be required for opening a debit card bank account. These documents may include:

Work certificate:

Containing details such as the name, position and other relevant information related to your employment.

Tax identification number

Proof of address in China:

This can usually be provided using a rental contract or your valid residence permit, which confirms your current residential address.

Again, please note that specific document requirements may vary among different banks. It is advisable to inquire directly with the branch where you plan to open the debit card bank account to confirm the exact documents they require.

III.

Handling process

Please select a time during regular business hours on a work day and take the aforementioned documents to a bank branch for manual processing.

While many bank outlets in China have set up smart teller service zones, the account opening process for foreigners remains relatively complex and can only be done through manual assistance at the bank counter. Therefore, before proceeding, please obtain a token number from the self-service ticketing machine located at the entrance of the bank branch and wait for your turn to be served.

When conducting the manual processing, please follow the instructions given by the bank teller and accurately and completely fill out the application form for personal account and general service. It often includes the name, contact information, residential address, occupation, employer, monthly income, account purpose, and the reason for opening an account in China, etc.

As per the regulations, it is also necessary to fill out and provide a signed Declaration of Personal Tax Residency Status document during the account opening process. This document is used by financial institutions to determine whether the account holder is a non-resident for tax purposes.

In terms of card fees, you will need to pay a card processing fee of 5 yuan (70 US cents) and an annual fee of 10 yuan for the debit card.

For the last step, you will be asked to set a six-digit password for your account. Once this is done, your account will be ready, and you will receive your own Chinese debit card.

Guide to Foreign Talents and Team Members for Application for the Notification Letter of Foreigner’s Work Permit and the Work Permit for Foreigners within Entrepreneurial Period (Trial)