Transfer money from USA to China

USD $252.68 Avg. Saving vs. Banks ?

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CNY ¥67,344.81
USD $252.68
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How to Transfer Money from USA to China


China and the United States have strong political, trading, and investment ties, with China the largest supplier of imports into the United States, and the US the third-largest importer of goods and services to China. The countries are involved in a number of trade and policy agreements that seek to enhance and promote business and investment opportunities between them. Currently, there are many restrictions enforced by the Chinese government which can complicate a money transfer into China. For American citizens who wish to transfer money from the USA= to China and convert USD to CNY, using a foreign exchange broker who has expertise in Chinese financial transactions is advisable.

Visas, work permits and residency

American citizens who already have a job contract from a Chinese firm can apply for a work visa, which is part of the process to eventually apply for a residence permit. Working in China is illegal without either a work visa (called the Z Visa) or a residence permit. For more information on acquiring a Chinese visa, please refer to the Chinese Embassy website.

It is easier to already have a job contract from a Chinese employer, as this entitles the employee to apply for the Z Visa at their local Chinese embassy while still in the US. Once the work visa is approved, the holder can enter China legally and begin the application process for the residence permit. The work visa must be validated and approved within 30 days of entering China. Once the work visa is approved, the application for the residence permit can begin.

Buying property in China

Navigating the Chinese real estate market can be challenging, and it helps to keep a few things in mind when looking to purchase property as a foreigner. The Chinese government owns all land, selling it to real estate development companies for development. American citizens who wish to purchase property face several restrictions. They must have a work visa that is valid for at least one year, are restricted to the purchase of one residence-use unit only, and they must sign a statement attesting that they do not own any other residential-use properties within China. Once they have met these requirements and have been approved, they can then arrange to transfer money from USA to China for their property purchase.


Foreign citizens living and working in China are generally taxed at the same rates as residents. US citizens are also required to file a tax return with the US government and may owe taxes on earnings from work done in China. Currently, there is no tax agreement in place between Canada and the United States. For American citizens who wish to transfer money from USA to China to cover any taxes owed, there are restrictions currently in place that can limit money transfer options.

American citizens studying in China

Today China offers degrees in English at a number of universities throughout the country, providing an opportunity for foreign students who do not speak Chinese to study in China and obtain a degree.

For American students who plan to study in China for a period longer than six months, a student visa, known as the X Visa, is required. An X Visa application includes the student’s passport, which must be valid for at least six months after the date of the application, a completed application form, one passport-sized photo, and the completed foreign student visa application form. The student must also meet certain health requirements. For a study program that is less than six months, an F Visa, also referred to as a Business Visa, is required for American citizens.


American citizens living abroad are eligible to vote by absentee ballot in US primary, general, and presidential elections. They must first complete and return a voter registration/absentee ballot to the elections office of the last state where they lived before moving abroad. Once approved, they will receive their ballot by mail for each election.


American citizens are covered under China’s healthcare and social insurance systems and can receive services from them in the same way Chinese nationals do. All foreign workers in China are required to pay into the system, typically from 8-11% of their salary, and this grants access to both systems. For Americans planning to visit China, purchasing a travel insurance policy or a short-term health insurance policy is advised.

Importing from the US to China

The US and China have strong economic ties and a number of trade and investment policy agreements and initiatives between them. Two-way trade between the countries amounted to $562 billion in 2013 with significant amounts of dollars to yuan traded. The US was the third-largest importer of goods into China, with the total amount valued at $122.1 billion, a 10.4% increase from the previous year. China also imported $25.9 billion of agricultural products from the US, and private commercial services valued at $30 billion in 2012, a 10.9% increase from the previous year. US foreign direct investment and money transfers to China totaled $51.4 billion in 2012, a decrease of 7.1% from the previous year.

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