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Is it legal and effective for employees to sign English names on financial documents?
Legal effect means that when you bring this signature to court as evidence, this evidence is recognized and affirmed by law.

This signature is legal outside China. As long as your signature is the same as that on your ID card, even if you add an arrow to your mind, it is legally binding.

In Chinese mainland, the mainland pays attention to handprints and seals, which does not mean that both have no legal effect.