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CNY – Chinese Yuan/Renminbi


Payments toward mainland China (onshore):

• Payments in Chinese Yuan / Renminbi toward mainland China are considered to be regulated and complex.

• Cross-border payments in CNY toward mainland China are only authorised for capital, commercial and similar transactions.

• Cross-border payments in CNY from corporates outside China to individuals located in mainland China are possible, using one of the following purpose codes: /PAYT/02112, /PAYT/02114 or /PAYT/02125. In addition, self-transfer (with the same name) cross-border payments in CNY initiated by individual to own individual account located in mainland China are possible with the daily limit CNY80.000.

• To avoid any payment delay/rejection, please make sure to split the benefeciary's name and address. Two options are available:

  • Use SWIFT field 59 Option F. Or
  • Add "ADD." just in front of the address if you are using SWIFT field 59

• Regulations change frequently: please contact your Account Manager for the latest status or any specific request.

Payments outside mainland China (offshore):

• Payments in CNY outside mainland China are not subject to rules described above and are considered to be highly standardised.

Currency Guidelines
Payments in CNY toward mainland China

Payments in CNY toward mainland China are processed through the Chinese cross-border clearing system, called CIPS (Cross-border Interbank Payment System), which uses specific codes and information.

Besides the standard information, the full name (written out in full, without initials, abbreviations or acronyms) of the beneficiary is mandatory, to reduce ambiguity linked with homonyms. The beneficiary’s physical full address is recommended but if mentioned, should be instructed as follow in order to avoid payment rejections. Please make sure to split the full name and the full address. In order to do so, you have two options:

  • Field 59, Option F (59F) : use the structured format provided by option F.
  • Field 59, No Option (59) : please add "ADD" just in front of the address.

A clear reason / purpose of payment is highly recommended for payments in all currencies towards China and consists of a full written description (in English) of the nature of payment to be provided in the remittance information. For example: providing an invoice number without guiding text is considered as insufficient and can result in errors or delays.

Example: Payment of travel expenses – invoice n° 123456789

The beneficiary's bank name is mandatory while the beneficiary's bank address is optional.

The BIC routing code, is mandatory: this code describes the exact branch location of the beneficiary's bank. Providing CNAPS code is optional.

It is important to note that a Purpose of Payment Code (see Appendix III) is mandatory for regulatory reporting to the People’s Bank of China and should be instructed in the remittance information field.

Example of a purpose of payment code: PAYT/02114 for contracted services (used for e.g. payments towards individuals in Mainland China)

Payments in CNY outside mainland China

Standard information

Instructions, technical guidelines & more

To consult the Technical Guidelines of this currency, click here


To consult the Appendix(es) click here

Appendix III: Purpose of Payment Codes (CNY)
Additional information

• Available charge option: OUR/SHA/BEN

• Central bank of China: