Last reviewed: · Curated by Ohmyfin Organisation editorial.
USD payments to mainland China route via CHIPS or Fedwire to a US correspondent, which then messages a Chinese bank via SWIFT into CIPS (Cross-border Interbank Payment System) or CNAPS. USD amounts are converted to CNY at the beneficiary bank at the PBOC daily reference rate (中间价). Capital-account controls mean the Chinese receiving bank must register large inflows with SAFE, adding 1–2 business days for amounts above the reporting threshold. OFAC sanctions screening in the US and People's Bank of China AML checks in China are both applied. Payments to offshore CNH (Hong Kong yuan) accounts are faster and less restricted. SWIFT GPI covers most corridors; paste your UETR on Ohmyfin for real-time status.
Settlement path: Fedwire / CHIPS → CIPS / CNAPS. Currency pair: USD → CNY.
The three most common causes of delay on this corridor are: (1) OFAC/Treasury sanctions screening (China-specific SDN lists), (2) SAFE (State Administration of Foreign Exchange) registration for amounts over USD 50,000 equivalent, and (3) CNY capital-account restrictions limiting inward FX conversion.
If the payment has not arrived within 5 business days, ask your sending bank to file an MT199 payment enquiry citing the UETR and the holding bank's BIC shown on the Ohmyfin GPI tracker.
Most SWIFT transfers on the United States–China corridor credit the beneficiary within 2 business days. In 95% of cases the payment arrives within 5 business days. The most common delay is ofac/treasury sanctions screening (china-specific sdn lists).
The three most common delay causes are: OFAC/Treasury sanctions screening (China-specific SDN lists); SAFE (State Administration of Foreign Exchange) registration for amounts over USD 50,000 equivalent; CNY capital-account restrictions limiting inward FX conversion.
Track the UETR on Ohmyfin — the GPI status shows exactly which bank is holding the payment. If delayed beyond 5 business days, ask your sending bank to file an MT199 payment enquiry citing the UETR and the holding bank's BIC.
The dominant settlement path is Fedwire / CHIPS → CIPS / CNAPS. The currency pair is USD → CNY.
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