Let's take a closer look at how each one works and how it can be used based on factors including, transfer times, fees, the cost to set up, and security. The most reliable methods include PayPal, Bank or Wire Transfers, Statrys business accounts, and other digital remittances cross-border services such as Wise and WorldRemit. It's important to understand which one suits your preference best. There are several methods you can consider when sending money to China. Now that's out of the way, let's get to know more about the different methods of secure online money transfers to China. Get an in-depth understanding of how it works and its differences. Learn more about the currencies in China. CNH is an offshore RMB currency traded outside of Mainland China.CNY is an onshore RMB currency traded within Mainland China only.In short, the official currency of China is Renminbi (RMB) and the main difference between CNY and CNH is that : When you start sending money to China, you probably have come across different Chinese currencies whilst in the process of research and money transfer in regards to CNY, CNH, or RMB.

What is the main currency in China? Chinese Yuan or Reminbi? For instance, importing from China may require importing fees, supplier fees, shipment costs, and many others.Įvery cross-border payment depends on the exchange rate and processing fees, but sending money quickly in China requires a thorough understanding of the process.īefore understanding more about the different methods of sending money to China, let's clear the common misinterpretation about the currencies in China. If you are a business owner, it's important to consider factors that may influence your decision. What To Consider When Sending Money To China While it’s certainly easier to send money to China nowadays than it has been historically, there are still many hurdles to navigate to ensure both safety and cost-effectiveness.įinding the best method for transferring money to China will need to consider several factors, including ease of transaction, speed, cost, and transparency of the process.

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