The CNAPS code is a code used in
China
China, officially the People's Republic of China (PRC), is a country in East Asia. With population of China, a population exceeding 1.4 billion, it is the list of countries by population (United Nations), second-most populous country after ...
's domestic payment system for the
yuan (CNY). It is developed by the
People's Bank of China
The People's Bank of China (officially PBC and unofficially PBOC) is the central bank of the People's Republic of China. It is responsible for carrying out monetary policy as determined by the ''PRC People's Bank Law'' and the ''PRC Commercia ...
to simplify fund transfers and clearing between banks within the country. CNAPS codes are named after the
China National Advanced Payment System.
Overview
Each bank, including foreign ones, is assigned a unique 12-digit CNAPS code from the People's Bank of China, typically starting with "C/N". Remitting banks use this code to directly transfer funds through CNAPS to the recipient's bank account and vice versa. Because each branch has its own CNAPS code, it ensures precise and efficient domestic payments and cuts down on transfer time.
The CNAPS code is mandatory for all CNY transfers within China.
See also
*
China National Advanced Payment System
References
{{reflist
Bank codes
Banking in China