Shanghai

1.1 Banking Services

Opening a bank account is essential for managing finances in Shanghai, especially for long-term visitors or immigrants. Major banks in Shanghai include:

• Bank of China (中国银行)
• Industrial and Commercial Bank of China (ICBC, 中国工商银行)
• China Construction Bank (CCB, 中国建设银行)
• Agricultural Bank of China (ABC, 中国农业银行)
• Foreign Banks: HSBC, Citibank, Standard Chartered, and others.

How to Open a Bank Account

1. Required Documents:
   • Passport (with a valid visa).
   • Proof of residence (e.g., rental agreement or hotel registration slip).
   • Work permit or student ID (if applicable).
   • Chinese phone number (mandatory for SMS verification).
2. Procedure:
   • Visit a bank branch (preferably a larger branch in central areas for English-speaking staff).
   • Fill out the application form.
   • Provide your documents for verification.
   • Deposit a small amount (usually no minimum, but RMB 100–500 is common).
   • Set up online banking and mobile banking apps (WeChat Pay and Alipay integration is often available).
3. Costs:
   • Account opening is usually free.
   • ATM withdrawals at the same bank’s ATMs are free; interbank withdrawals may incur a fee (RMB 2–4 per transaction).
   • International transfers may cost RMB 150–300 per transaction.

Cultural Considerations:

• Be patient, as the process can take 1–2 hours.
• Bring a translator or use a translation app if you don’t speak Mandarin.
• Some banks may require a Chinese name for the account; staff can help you choose one.

---

1.2 Mobile Payment Systems

Shanghai is a cashless society, and mobile payment platforms dominate daily transactions. The two main platforms are:

• WeChat Pay (微信支付)
• Alipay (支付宝)

How to Set Up Mobile Payments:

1. Open a Chinese bank account and link it to your WeChat or Alipay account.
2. Verify your identity within the app using your passport and bank account details.
3. Top up your account or link it directly to your bank card.

Costs:

• Free to set up and use for domestic transactions.
• Currency conversion fees apply for international cards linked to these platforms.

Cultural Considerations:

• Mobile payments are accepted almost everywhere, from street vendors to luxury stores.
• Always carry a small amount of cash as a backup, especially in rural areas or for emergencies.

---

1.3 Currency Exchange

Currency exchange services are available at:

• Banks (e.g., Bank of China).
• Currency exchange counters at airports and major hotels.
• ATMs that accept international cards (Visa, MasterCard, UnionPay).

Costs:

• Banks offer the best exchange rates with minimal fees.
• Airport counters may charge higher fees or offer less favorable rates.

Cultural Considerations:

• Always bring your passport for currency exchange.
• Avoid exchanging money with unauthorized street vendors.

---

1.4 Tax and Financial Advisory Services

For expatriates working in Shanghai, understanding China’s tax system is crucial. Services include:

• Tax filing assistance: Provided by accounting firms like PwC, Deloitte, and local agencies.
• Investment advice: Offered by banks and private financial advisors.

Costs:

• Tax filing services: RMB 500–2,000 depending on complexity.
• Financial advisory fees vary widely.

Cultural Considerations:

• Tax laws in China are strict; ensure compliance to avoid penalties.
• Seek advice from professionals familiar with expatriate tax regulations.

---

2. Local Services in Shanghai

Shanghai’s local services are designed to make life easier for residents and visitors. Here are the key services you should know about:

2.1 Housing and Accommodation Services

Finding a place to live is a top priority for immigrants. Options include:

• Real Estate Agencies: Lianjia (链家), Ziroom (自如), and international agencies like Savills.
• Online Platforms: Anjuke (安居客), 58.com, and Airbnb for short-term stays.

Procedure:

1. Search for properties online or visit a real estate agency.
2. Schedule property viewings.
3. Sign a lease agreement (usually 1 year) and pay:
   • 1–3 months’ rent as a deposit.
   • 1 month’s rent as an agency fee.
4. Register your address at the local police station within 24 hours of moving in.

Costs:

• Rent: RMB 3,000–10,000/month for apartments, depending on location and size.
• Agency fees: 35–50% of one month’s rent.

Cultural Considerations:

• Negotiate rent and terms before signing the lease.
• Landlords may prefer tenants who pay several months’ rent upfront.

---

2.2 Healthcare Services

Shanghai has a mix of public and private hospitals. For foreigners, international hospitals and clinics are recommended for language support and quality care.

Key Hospitals:

• Shanghai United Family Hospital (private, English-speaking).
• Huashan Hospital (public, with an international department).
• Parkway Health (private, English-speaking).

Costs:

• Public hospitals: RMB 50–200 for consultation (higher for international departments).
• Private hospitals: RMB 800–2,000 for consultation.

Procedure:

1. Register at the hospital (bring your passport).
2. Pay the consultation fee upfront.
3. See the doctor and pay for any additional tests or medication.

Cultural Considerations:

• Public hospitals can be crowded; arrive early or book an appointment online.
• Private hospitals offer shorter wait times but are more expensive.

---

2.3 Transportation Services

Shanghai’s public transportation system is efficient and affordable. Services include:

• Metro: Covers most of the city; fares range from RMB 3–9.
• Buses: Extensive network; fares start at RMB 2.
• Taxis and Ride-Hailing: Didi Chuxing is the most popular app.

Procedure:

• Purchase a Shanghai Public Transportation Card (交通卡) for metro and bus rides.
• Top up the card at metro stations or convenience stores.

Cultural Considerations:

• Metro announcements are in Mandarin and English.
• Avoid rush hours (7:30–9:30 AM, 5:00–7:00 PM) for a more comfortable ride.

---

2.4 Language and Integration Services

For newcomers, learning Mandarin and understanding local culture can ease the transition. Services include:

• Language Schools: Mandarin House, That’s Mandarin, and local universities.
• Community Centers: Offer cultural workshops and language exchange programs.

Costs:

• Language classes: RMB 100–300 per hour.
• Community workshops: Often free or low-cost.

Cultural Considerations:

• Learning basic Mandarin phrases can go a long way in daily interactions.
• Join expat groups on platforms like WeChat or Meetup to build a social network.

---

2.5 Emergency Services

Shanghai’s emergency numbers are:

• Police: 110
• Fire: 119
• Ambulance: 120
• Foreign Affairs Police: 12345 (for non-emergency assistance in English).

Cultural Considerations:

• Save these numbers in your phone.
• In emergencies, locals are generally helpful but may not speak English.

---

By understanding and utilizing these community services, visitors and immigrants can navigate life in Shanghai with greater ease and confidence.