How to transfer payment from HK to mainland China

Today we going to talk about how to transfer payment from HK to Mainland China.

Firstly, we would like to answer the question of what most people asked “Can I transfer RMB directly from HK to mainland China?”

The answer is NO.

Probably some of you have known that there is a State of Administration of Foreign Exchange in mainland China,which exactly restricts the direct RMB transferring from HK to mainland.

what kind of conditions that you can transfer payment from HK to mainland China.

1Direct transaction from business bank account to business bank account

(For example - USD toUSD)

Prerequisite would berequiring your mainland suppliers/clients to have the company USD bank accountfirst so that you can directly transfer USD from your HK company to mainlandsuppliers (And after that, suppliers can convert USD to RMB in mainland)

2Direct transaction from business bank account to mainland personal bank account.

Many clients asked “Can I transfer from my bank account to personal bank account in mainland?”

The answer is “YES”, however, there is a reminder that personal bank account in mainland only can withdraw/convert 50,000 foreign currencies in ONE YEAR totally. 

3Transaction through the third party.

If you don’t have HK business bank account currently, you can ask for help from some legal monetary agencies or exchange platforms.

If you need more information about this part, or if you want to know how to open your own business bank account, please feel free to follow our official accounts or contact our consultants.