What is CNY Settlement?

CNY Settlement is a service provided by XTransfer where XTransfer reports the CNY conversion and transfer the RMB to your bank account in the Chinese Mainland. You no longer need to submit documents to the bank for the reporting.

●Only supports Chinese Yuan (CNY)

●Does not occupy your personal annual settlement quota of USD 50,000/year

●Hong Kong companies can transfer funds to Mainland resident accounts authorized by the company, and the resident is either a director of the company or the legal representative of a mainland Chinese supplier

●The reporting entity is an individual.

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