Understanding Corporate Banking Clients: IDs, Licenses, and Seals Explained

The author, a fintech developer working in corporate banking, shares essential knowledge about corporate clients that many developers overlook, emphasizing the need to understand client types beyond module-specific functions.

1

Corporate Client Classification

Different client categories require distinct basic information and regulatory handling. For example, opening accounts for government agencies differs from opening accounts for enterprises. While enterprises dominate corporate banking, "corporate clients" also include non‑enterprise entities.

According to the People’s Bank of China’s "Regulations on RMB Settlement Account Management," corporate clients are classified into several groups, often referred to as "units" in regulatory texts, excluding individual businesses.

2

Unified Social Credit Code (USCC)

Just as individuals have ID cards, non‑natural persons have an 18‑character Unified Social Credit Code, a mandatory national standard issued in 2015 that serves as a digital ID for legal entities.

The USCC consists of five parts: registration authority code (1 digit), organization type code (1 digit), administrative region code (6 digits), entity identifier (9 digits), and a check digit (1 digit).

For most enterprises, the registration authority is the State Administration for Market Regulation, resulting in codes starting with "9" (e.g., 91xxxx...). Individual industrial and commercial households start with "92".

More details can be found at the National Organization Code Service Center: https://www.cods.org.cn/zhfw/dmzs/.

3

Business License

The USCC appears on the paper business license issued by market‑regulation authorities. The license records name, address, legal representative, registered capital, economic composition, business scope, and other key information.

Paper Business License

An example of a real paper license is shown below:

Electronic business licenses, issued by the same authority, have the same legal effect and can be accessed via mobile terminals. The legal representative is the default recipient; other authorized personnel can obtain and use the electronic license after proper delegation.

The national platform for downloading and authorizing electronic licenses is https://zzapp.gsxt.gov.cn/#/userguide/downloadlicense.

Paper vs. Electronic License and the "Enterprise Code"

Paper license QR codes reveal the plain USCC, while electronic license data are encrypted and can only be parsed by the regulator’s backend. Pilot projects in Shanghai and other cities have introduced a unified "Market Entity Identity Code" (enterprise code) that merges QR code formats for both paper and electronic licenses, enabling easy retrieval of registration status and permits.

4

Legal Person, Legal Representative, and Authorized Representative

Clarifying three often‑confused concepts:

Legal Person

A legal person is an organization that possesses civil rights and obligations, such as a limited‑liability company or joint‑stock company. It is not an individual.

Legal Representative

Defined by the Civil Code, the legal representative is the person authorized by the legal person’s charter to exercise its rights and duties, typically a manager, director, or chairman.

Authorized Representative

This is a person granted specific powers by the legal person for particular matters; the role is task‑specific and distinct from the legal representative.

5

Corporate Seals

Corporate seals are essential for enterprise banking operations and come in five main types:

Official Seal : Used for external affairs such as registration, taxation, and banking.

Financial Seal : Applied to checks and other financial documents (often called the "bank big seal").

Contract Seal : Stamped on contracts.

Legal Representative Seal : Used for documents requiring the legal representative’s signature (also known as the "bank small seal").

Invoice Seal : Required when issuing invoices.

The official seal symbolizes the legal person’s authority and, unless otherwise stipulated, represents the entity’s intent in contracts and official documents.

6

State Administration for Market Regulation & State Administration for Industry and Commerce

Both agencies merged in 2018 to form the State Administration for Market Regulation (SAMR), consolidating functions of the former Ministry of Industry and Information Technology, quality supervision, food and drug supervision, and anti‑monopoly enforcement.

Since the merger, there is no separate "Administration for Industry and Commerce"; all licensing and registration responsibilities now reside under SAMR.

The article concludes with a brief recap of corporate client fundamentals and invites readers to point out any omissions.