On the execution of international payments in Chinese Yuan (CNY)

In accordance with the legislation of the People’s Republic of China, the international transfers in Chinese yuan (CNY) can be executed only between legal entities and only for export-import operations (payments for goods and services). International transfers to private individuals are prohibited.


In order to ensure outgoing transfers in Chinese yuan (CNY) to Mainland China, please pay attention to the mandatory requirements to payment orders information, necessary for transfer execution.


Mandatory requirements to payment order:


Information on the remitter and the beneficiary:

  1. 1. Remitter’s and beneficiary’s account numbers;
  2. 2. Full name of the remitter and beneficiary (as stated in the registration documents of legal entity);
  3. 3. Full address of the remitter and beneficiary (number of the building, street, city, country, postal code).
✓ Number of PO box may not be provided instead of the address.


Information on the beneficiary bank:

  1. 1. the name of the beneficiary bank, the name and the address of the branch of the beneficiary bank;
  2. 2. BIC code of the beneficiary bank (branch of the beneficiary bank);
  3. 3. CNAPS code* of the beneficiary bank;
*The CNAPS (China National Advanced Payment System) code is a code of the beneficiary bank for transfers in Chinese yuan (CNY) on the territory of Mainland China (the digital code used for identification of the beneficiary bank by international settlements, the code is made of 12 digits, you do not have to enter the letters CN – since these symbols are prepared by the system automatically).
Please request the СNAPS code from your partner-bank in advance.


Information for the beneficiary:

  1. 1. code of transfer purpose **;
  2. 2. description of operation;ра;
  3. 3. number and date of the contract;
  4. 4. number and date of the invoice.


For example (the names of the organizations and the combination of numbers in the details specified in the example are fictitious):

Beneficiary bank:
CNAPS: 1045810030174


Guangdong Kai Shoes Co., Ltd.
Guangdong province Dong city Kaifeng Town Industrial Zone
Konta numurs: 4807530123456789123


Information for the beneficiary:
/GOD/ Pmnt for Hawaii shoes by Contract CLB16S-SHO01 dtd 10.05.2017, 70% final payment by invoice PR20171009008 dtd 10.09.2017.

/GOD/ – code of payment purpose**
Pmnt for Hawaii shoes – description of the operation
by Contract CLB16S-SHO01 dtd 10.05.2017 – the number and the date of the contract
70% final payment by invoice PR20171009008 dtd 10.09.2017 – number and the date of the invoice


**The code of transfer purpose depends on the type of the operation and must be stated first in the information for the beneficiary:
Code of transfer purpose Transfer purpose Description of the operation
/GOD/ Goods trade Cross-border settlement conducted for trade in goods, including general merchandise, goods for processing, goods required for repairing, goods procured in ports by carriers, non-monetary gold import and export, etc.
/STR/ Service trade Cross-border settlement conducted for trade in services, including services or fees relating to transportation; travel; communications; construction services; installation projects and their subcontract services; insurance; financial services; computer and information services; royalties and license fees; sports and entertainment; government services not mentioned above and other commercial services, etc.
/(P)RGOD/ Partial or full return for goods trade /PRGOD/ partial return
/RGOD/ full return
/(P)RSTR/ Возврат средств за торговлю услугами /PRSTR/ partial return
/RSTR/ full return

Please note that the transfer in Chinese yuan cannot be executed without the code of transfer purpose.