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J.P. Morgan is a locally incorporated bank in China known as JPMorgan Chase Bank (China) Company Limited. By working through our overseas offices, local branches and Chinese bank peers, J.P. Morgan provides Chinese clients with full access to local and foreign currency cash management services, electronic banking, trade finance, foreign exchange management, deposit and account services and liquidity solutions. J.P. Morgan is a leading provider of US dollar clearing and settlement services to China's banking industry.
Client service is delivered by dedicated, in-country sales, client service, operations and technical support staffs operating out of each of our fully licensed branches.
Cash Management
Account Services- RMB Basic Account - For all kinds of RMB collections and payments including cash withdrawal and payroll. Only one basic account is allowed per corporate and only in its incorporated location.
- RMB General Account - For all kinds of RMB collections and payments except cash withdrawal and payroll. This account cannot be held in the same bank branch as the basic account.
- FCY Capital account - For receiving initial capital investment in the local operating company and periodic capital injections, as well as funding all capital expenditures. Typically this account must be held in the city where the local subsidiary is incorporated.
- FCY Current account - For initiating payments to and from China and receiving information reporting for cross-border commercial payments.
- Foreign debt account - For holding the cash proceeds of all loans from offshore sources.
- Foreign currency loan account - For receiving the proceeds of onshore loans made by banks operating in China.
- Escrow services is for attorneys, accountants and other financial professionals involved in mergers & acquisitions, capital raising or other transactions that require escrow strategies.
Payable and Receivables Management
- RMB Counter Services - Available at branches in Beijing and Shanghai.
- High-Value Electronic Payments and Receipts - Process via direct access with the local clearing system (CNAPS HVPS) or through SWIFT for international settlements.
- RMB Low-Value Electronic Payments and Receipts through CNAPS BEPS- Process via clearing channel for non-urgent small settlements.
- RMB Check Clearing -- Full check issuance, deposit and clearing capabilities through J.P. Morgan Beijing, Shanghai and Tianjin.
- FX Trading – Receive active quotes and execute trades in a wide range of currencies and in a variety of instruments including spot, forward and swaps and foreign currency-to-foreign currency onshore conversion
J.P. Morgan is a direct participant in CNAPS in Beijing, Shanghai and Tianjin.
Liquidity Management
- Time and Call Deposits – Term funding for clients with longer-dated liquidity.
- RMB Contract Savings Accounts – Higher return on excess balances as compared to basic and general accounts.
- Physical cash concentration: In-Country Sweeping service for single entity clients.
- Entrust Loans for multi-entity clients where J.P. Morgan acts as the intermediary between lending/borrowing group companies to meet regulatory restrictions on intercompany lending.
- Working Capital Facilities –Working capital loans are available.
J.P. Morgan electronic banking services provide an easy and efficient means to conduct banking communication with J.P. Morgan China and the global J.P. Morgan network. Addresses a broad range of banking needs including accounts payable, payroll, treasury settlement, cash accounting, and collections management. Supported channels include:
- Browser – Initiate Web-based electronic payments as well as intraday and end-of-day information reporting.
- Host to host – Integrates with your financial systems to process bulk files for both local and foreign currency payments and other related communications. Includes SWIFT Corporate Access.
Trade Services
J.P. Morgan offers trade services in RMB and foreign currencies to China-based clients to complement our cash management offering:
- Classical Trade – Issue, advise, confirm and negotiate letters of credit (LC), back-to-back LCs, import & export loans, standby LC and guarantee, document fulfillment/preparation, bills purchase, supply chain financing and electronic trade platforms
- Structured Trade Finance – Provide Export Credit Agency (ECA) financing, export financing, syndicated trade facilities and discount payment obligations
- Global Supply Chain – Realize operational improvements with supply chain driven trade solutions to facilitate procurement to pay inclusive of process insourcing and vendor financing.
- Freight Audit*– Manage and optimize the cross-border flow of physical goods and the associated financial and informational flows.