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Chinese Yuan (CNY) Cross Border Trade Transaction

Last updated on 28 August 2010, 6.00p.m.

Perform cross-border trade transaction using Chinese Yuan (CNY) at OCBC & OCBC Al-Amin Bank branches and Velocity@ocbc!

CNY Cross-Border Trade Transaction: Goods and Services Are Available

Below are the product/services offered at OCBC & OCBC Al-Amin Bank branches:

  1. Issuance and Payment of Letter of Credit in RMB
  2. Bank Guarantee (Payment Guarantee for Goods and Services)
  3. Inward and Outward Remittances
  4. Advising, Confirmation and Export Bill for Payment under Letter of Credit in RMB
  5. Documentary Collection (Import and Export)
  6. Chinese Yuan (CNY) Foreign Currency Account can be opened for any purposes *New

It’s also available in Velocity@ocbc for Inward and Outward Remittances, Letter of Credit and Bank Guarantee

 
Telegraphic Transfer (TT) Remittance in Chinese Yuan (CNY)
1. TT Remittance to Mainland of China is restricted to Trade Transaction (Goods and Services) only and it must be proven with relevant documents. *New
  • Payment can be made to the following 20 provinces/autonomous region/centrally administrative cities:

 BEIJING

 LIAONING

HUBEI 

YUNNAN 

 TIANJIN

 JIANGSU

 GUANGDONG

 JILIN

 SHANGHAI

 ZHEJIANG

 GUANGXI

 HEILONGJIANG

 CHONGQING

 FUJIAN

 HAINAN

 TIBET

 INNER MONGOLIA

 SHANDONG

 SICHUAN

 XINJIANG

  • Payment cannot be made to the following 11 provinces/autonomous region/centrally administrative cities:

ANHUI 

HEBEI 

JIANGXI 

SHANXI 

 GANSU

 HENAN

 QINGHAI

 NINGXIA

 GUIZHOU

 HUNAN

 SHAANXI

 

2. TT Remittance to countries outside Mainland of China (e.g. Hong Kong, Singapore, Australia, etc.) is not required to provide the evidence. *New

3. 12 Digits CNAPS number must be furnished (for CNY funds payment into Mainland of China). *New

 

 
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