I'm moving to GZ in around 20 days and I'm trying to find the best way to bank in China. I know there's new tax laws for foreigners (who knows how much they will be enforced) but BOC just held my 2k wire transfer and asked for evidence that I don't use it for trade or live in China.
Ideally I would like to use wechat and not be stuck with cash but I'm afraid of accounts getting frozen and having large amounts stuck in limbo. Wechat already shows my 200k rmb / year limit and asking to sign up to their tencent bank or something.
Some questions:
Is it basically impossible to open a personal account in HK without living there?
Will depositing RMB in cash to my personal account set off red flags?
Any suggestions for avoiding ATM foreign fees?