Fiat Accounts are fully supported for approved Chinese companies. This guide covers company-named USD accounts, international fiat payments, local CNY payouts, onboarding documents, and the separate rules that apply to stablecoins.
Explore HEVN payment rails for companies trading with China, including the complete Chinese-language version.
International payment routes for companies trading with China
Chinese companies can apply for a Fiat Account with account details in the company's name. They can receive B2B payments from overseas companies, pay international suppliers, and keep invoices and supporting documents together for reconciliation and review.
Within mainland China, HEVN focuses on companies that operate internationally, especially businesses exporting physical goods from China. HEVN also supports international companies buying from Chinese suppliers and supports CNY and USD routes for approved payments, including local payouts through Alipay or WeChat Pay.
Supported payment rails
USD is available through a fully supported company-named fiat account and SWIFT. CNY and HKD routes shown below are payout-only and use a pooled account in the provider's name.
| Currency | Direction | Corridor | USD vs Spread | Payment Fee | Sender account |
|---|---|---|---|---|---|
| USD | Pay-in | SWIFT (Global) | - | $25 | Account under your company name |
| USD | Payout | SWIFT (Global) | - | $25 | Account under your company name |
| CNY | Payout | WeChat Pay | 0.45% | ¥31 + 0.36% | Account under the provider's name (pooled) |
| CNY | Payout | Alipay | 0.45% | ¥45 + 0.44% | Account under the provider's name (pooled) |
| HKD | Payout | Local wire | 0.50% | HK$25 | Account under the provider's name (pooled) |
Documents to prepare
For onboarding, a mainland Chinese company should prepare:
- Articles of Association (公司章程)
- a National Enterprise Credit Information Publicity System extract and Business Licence (营业执照)
- the State Taxation Administration tax-registration record
- a lease, utility bill, or business bank statement dated within the past 90 days as proof of address
- a board resolution bearing the company seal
- an organizational chart, audited financial statements, and a recent business bank statement
A Hong Kong company should prepare its Certificate of Incorporation, Business Registration Certificate, recent proof of address, and a Board Resolution or Power of Attorney. HEVN may also request identity documents for directors and beneficial owners, contracts and invoices, expected counterparties, and evidence of source of funds.
Stablecoins and on/off-ramp access in China
Mainland China's rules for stablecoins are separate from fiat account availability. The People's Bank of China Notice No. 237 of 2021 states that virtual currencies do not have the same legal status as fiat currency and treats related business activities as illegal financial activities. Stablecoin functionality for mainland-incorporated companies or companies with Chinese ultimate beneficial owners (UBOs) may therefore be limited or unavailable.
International companies can fund approved payouts into China with stablecoins through local payment rails. This route is payout-only: conversion takes place before the local payout, and the beneficiary receives fiat. It does not provide stablecoin collections, deposits, wallets, or pay-ins in China.
For international customer and supplier payments involving a Chinese company, fiat transfers are usually simpler. The fiat account remains fully supported, and the resulting bank records are easier to reconcile for accounting, customs, and tax reporting.
Benefits of a Fiat Account for a Chinese exporter
- Receive payments from US customers through ACH or domestic wire.
- Use account details in your company's name to match incoming payments with customers and invoices.
- Keep USD to pay US suppliers, contractors, software vendors, and other operating costs.
- Use approved CNY payout routes for suppliers or operating expenses in China.
- Keep invoices, payment records, confirmations, exports, roles, and approvals in one workspace.
HEVN provides support in Chinese and has a representative office in Hong Kong. We'll confirm available accounts, payment rails, limits, pricing, and expected account-opening time during onboarding.
