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:
✓ Number of PO box may not be provided instead of the address.
Information on 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:
For example (the names of the organizations and the combination of numbers in the details specified in the example are fictitious):
**The code of transfer purpose depends on the type of the operation and must be stated first in the information for the beneficiary:
Please note that the transfer in Chinese yuan cannot be executed without the code of transfer purpose.