Is an account in the Hainan FTP available for handling business as soon as it is opened?

Is an account in the Hainan FTP available for handling business as soon as it is opened?

so far, the People’s Bank of China (PBOC) has not yet cancelled the request for a bank account license for companies. Therefore, a company shall not handle any business through its account until 3 working days after the account is licensed by the local PBOC branch. Later, if the request for an account license is cancelled by the PBOC, the account may be available for handling any business as soon as being opened.

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Related article: Hainan FTP Q&A

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