China Travel Answer

Q: Are there banks like barclays and standard chartered bank close to Wenzhou Medical College?

It was in 2006 that China abolished certain restrictions on the operations of foreign banks in China. Up till most recently, foreign banks in China can only do business on a limited basis, mostly with corporations rather than individual customers. Since the removal of the said restrictions, about a dozen foreign banks have entered China's financial market to serve individual customers. Among them are Standard Chartered Bank, Citibank, and HSBC. These banks still have only a limited number of branch offices in China. Standard Chartered Bank has offices in eight cities/provinces, but it does not seem to have operations in Zhejiang Province, in which Wenzhou is located. HSBC has operations in about 15 Chinese cities, including Hangzhou, which is the capital of Zhejiang Province, but does not seem to have presence in Wenzhou. Citibank also operates in Hangzhou.

Of the native Chiense banks, Bank of China has a long history in the international financial market. Other major banks of China include Gongshang Yinhang (Industrial and Commercial Bank of China), Jianshe Yinhang (China Construction Bank), Zhaoshang Yinhang (China Merchants Bank), Huaxia Yinhang (Huaxia Bank), Nongye Yinhang (Agricultural Bank of China), Jiaotong Yinhang (Bank of Communications). You should be able to find some of these banks near Wenzhou Medical College, and there should also be some ATM's on campus.