A list of all nationwide — as opposed to regional — banks that issue credit cards in China:
1. Bank of China;
2. China Construction Bank;
3. Agricultural Bank of China;
4. Industrial & Commercial Bank of China;
5. Bank of Communications (HSBC);
6. Hua Xia Bank (Deutsche Bank);
7. Guangdong Development Bank;
8. Shenzhen Development Bank;
9. Shanghai – Pudong Development Bank (Citibank);
10. China Merchants Bank;
11. Industrial Bank Co. (Hang Seng Bank);
12. CITIC Bank;
13. Everbright Bank; and
14. Minsheng Bank.
There are some regional banks, such as Bank of Beijing and Bank of Dongguan, that also issue credit cards and there is one nationwide bank, Postal Savings Bank, that does not. Most regional banks, though, do not issue credit cards and those that do tend to only approve applications from individuals who actually live within their banking area.
As for mortgages, almost every bank — regional or nationwide — will offer them.
It pays to be a clever consumer because credit card / mortgage services and terms vary widely between banks. One should not make the mistake of assuming that all banks offer similar products and, thus, similar terms and conditions.
China does have a credit reporting system run by the People’s Bank of China. Individual banks such as ICBC have developed their own credit scoring system. Unfortunately secured credit cards such as the Bank of China Great Wall Card do not report to the PBOC.
