New bank account

[christhedon]

Hi,

I'm thinking about opening opening up a chinese bank account and have some specific questions:

1) What is a safe bank to put your money in? e.g. the top largest 3 and their names?

2) What is the general rate of interest in a savings account?

3) What kind of exchange rate if I wanted to move from GBP to CNY and vice versa - is it quite poor in the bank?

Thanks in advance,

Chris

[gougou]

The top five are Industrial and Commercial Bank, Bank of China, Agricultural Bank, Construction Bank and Bank of Communications. Even smaller institutes, like China Merchants Bank, should be government-backed though and thus be safe enough to put your money in.

There is no interest to speak of (some tenth of a percent), so don't make that your main reason to put money into a savings account.

[christhedon]

Thats strange I thought the savings interest rate was around 7%. Are we talking about the same type of account?