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China

Overview

Payment methodLocalSWIFT
Supported currency(ies)CNYAUD, CAD, CHF, CNY, CZK, DKK, EUR, GBP, HKD, HUF, ILS, JPY, NOK, NZD, PLN, RON, SEK, SGD, THB, TRY, USD, ZAR
Payment SchemeUnionPay / NUCC
Flight time (business days)0-10-3
Maximum transaction limit9,999,999 CNYNo limit
Ultimate payer displayedYes

Please refer to the sections below for the key required bank details and other considerations for each supported payment method.

Local CNY payout

Required fieldsPermitted DataNotes
account_currency3-letter ISO 4217 currency codeShould be CNY
account_name2-200 Chinese characters or punctuationAccount holder name of the beneficiary’s bank account (cannot be a financial institution)
account_number8-34 digits
account_routing_type1cnaps only
account_routing_value112 digitsShould be a valid and supported CNAPS (China National Advanced Payment System) code
bank_country_code2-letter ISO 3166-2 country codeShould be CN
bank_nameUp to 200 characters

Regulatory requirements

According to local regulations, payouts to Mainland China using the LOCAL payment method must be supported by declarant information and relevant order information.

Currently, Airwallex supports payouts to your own business account, UBO or third-party suppliers for the following use cases:

  • B2C e-commerce goods trade: Supports cross-border e-commerce sellers repatriating overseas sales proceeds into Mainland China for paying into their own accounts or to third-party suppliers. The corresponding goods sold need to be exported from China.
  • B2B e-commerce: Supports B2B sellers repatriating small ticket size sales proceeds (sold online via platforms like alibaba.com) or payout to third-party suppliers within China. The corresponding goods sold need to be exported from China.

See here for a step-by-step guide to fufill the regulatory requirements and create local CNY payouts.

Additional beneficiary information

For local payouts to China, you will need to provide additional beneficiary information:

Required fieldsPermitted DataNotes
For business beneficiaries (COMPANY)
business_registration_numberUp to 30 characters
legal_rep_first_name_in_chineseUp to 15 Chinese characters
legal_rep_last_name_in_chineseUp to 15 Chinese characters
legal_rep_id_number15 or 18 alphanumeric characters
For individual beneficiaries (PERSONAL)
personal_id_typeShould be CHINESE_NATIONAL_ID
personal_id_number15 or 18 alphanumeric characters

SWIFT payout

Required fieldsPermitted DataNotes
account_currency3-letter ISO 4217 currency codeOne of AUD, CAD, CHF, CNY, CZK, DKK, EUR, GBP, HKD, HUF, ILS, JPY, NOK, NZD, PLN, RON, SEK, SGD, THB, TRY, USD, ZAR
account_name2-200 charactersAccount holder name of the recipient’s bank account
account_number8-34 alphanumeric characters
swift_code8-11 alphanumeric charactersShould be a valid and supported BIC-8 or BIC-11 code
bank_country_code2-letter ISO 3166-2 country codeShould be CN
On this page
  • Overview
  • Local CNY payout
  • SWIFT payout