
Why Opening a Business Bank Account in Hong Kong Is So Difficult
Have you tried opening a business bank account in Hong Kong only to be rejected without any clear explanation? While...
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Have you tried opening a business bank account in Hong Kong only to be rejected without any clear explanation? While...
Our Verdict Airwallex is a genuinely capable product for businesses that regularly make cross-border payments, manage multi-currency expenses, or run...
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Hong Kong, 17 March 2026 Statrys, a Hong Kong-based fintech company providing integrated accounting, business accounts, and company creation solutions,...

Singapore, 6 March 2026 International Women’s Day is always a time for us all to continue supporting, recognising, and being...

Singapore, Monday 10th November 2025 Statrys, a Hong Kong-based fintech company and a leading provider of business accounts, accounting services,...
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I'm the founder of Statrys, and we compete with Currenxie. I know what you're thinking...but hear me out. Currenxie and Statrys both offer multi-currency business accounts, international payments, and FX to Hong Kong companies. We're going after the same customers, so it's hard to imagine that I would say anything nice about them, right? The reality is quite simple. I am not here to tell you Statrys is better than Currenxie, and there are two reasons why: Reason 1 - Credibility It would completely undermine our credibility if I were to write content that is inaccurate, in bad faith, or biased. Reason 2 - Common business sense It is completely pointless for me to convince you that we are the best option for you if we're not. If we're not the right match, you won't use the account anyway, which isn't what I am looking for. So instead of trying to talk you into — or out of — using Currenxie, I decided to test it exactly the way you would if you were about to switch: real money, real transactions, no shortcuts. I opened a Currenxie account under a Hong Kong company and funded it, ordered the card, sent a live transfer, and bought something with it. I took a screenshot of what surprised me and tracked the costs. What follows is my experience using Currenxie — including what went well and what did not. The Short Version If you move money internationally and you're registered in Hong Kong, Currenxie is worth a look. The wire transfer experience is honest — the rate you see is the rate you get, fees show up before you confirm, and money moved fast. The card is where it gets murky. The FX rate on card spending is 1.95%, not the 0.1% on the pricing page. You won't find that out unless you ask the chatbot. Good account. Incomplete pricing page.

China remains the world's largest exporter, but importing from China involves more moving parts than most first-timers expect: supplier vetting, HS codes, Incoterms, pre-shipment inspections, FX management, and customs clearance all have to come together on each shipment. This guide walks through the process step by step, based on what we see work (and fail) across thousands of real import transactions. Whether you are setting up your first shipment or tightening up an existing process, each section is designed to be actionable. Founders who are still deciding where to base their trading entity may find the Hong Kong vs Singapore comparison useful before working through this guide.

Looking to start a company in China? You'll be tapping into one of the world's biggest opportunities. China's GDP reached RMB 33.42 trillion (approximately USD 4.87 trillion) in Q1 2026, growing 5.0% year on year — 0.5 percentage points faster than Q4 2025, with the National Bureau of Statistics of China (NBS) describing the economy as getting "off to a good start." But a market this large comes with complexity. Setting up a company in China means navigating detailed licensing requirements, language barriers, and a business culture built on relationships. This guide outlines the 10 steps to launching a company in mainland China and alternative if it’s not feasible for you.

The best way to find Chinese suppliers depends on your product type, order volume, and whether you can visit China. B2B marketplaces are the most accessible starting point, but each has different verification standards and MOQs (Minimum Order Quantity). Some domestic Chinese platform gets you factory-direct prices with no export markup, but the site is in Mandarin and requires either basic Chinese or a sourcing agent. Trade fairs such as the Canton Fair, and China-based sourcing agents is another option. Each option suits a different buyer profile, order volume, and level of product complexity. This guide covers how to use each channel — including 1688.com for factory-direct pricing — how to vet any supplier before placing a bulk order, and how to structure your payments to get better prices.
Who writes our articles, how we keep them accurate, and how to get in touch.
We focus on the practical side of running a small or medium business — company registration and maintenance, accounting and tax, multi-currency payments, FX, and the day-to-day decisions founders face when setting up or scaling in Hong Kong, Singapore, and beyond. If it touches your back office, we've probably written about it.
Our content is produced in-house by Statrys writers and reviewed by subject-matter experts on our corporate services, accounting, and payments teams — people who handle these processes for real clients every day. Each article shows the author and reviewer at the top so you know exactly who stands behind it.
We track regulatory and product changes across the markets we operate in and refresh our articles regularly — especially anything covering tax rates, government fees, filing deadlines, or banking requirements. Each piece displays a "last updated" date so you can see at a glance how recent the information is.
Our articles are written to inform and help you understand your options, but they're not a substitute for personalised advice. For specific situations — incorporation choices, tax positions, or financial decisions — we recommend speaking to a qualified professional or reaching out to our team directly.
If there's something you'd like us to write about, or a question that isn't answered here, use the Chatbox on the page or contact us through our support channels. We use real reader questions to shape what we publish next.
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