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Getting CNY to China from the UAE
Seen from Dubai. Gulf traders buy from China at scale, and Chinese firms in the Gulf pay suppliers back home. Most banks in the UAE either won't quote CNY or route it through a second currency, adding a spread nobody discloses.
Grey quotes USD to CNY directly for senders in Dubai and Abu Dhabi. The CNY lands at ICBC, Bank of China, China Construction Bank, Agricultural Bank of China or any Chinese bank as a domestic deposit. Nothing to install on the receiving side.
How sending to China works
Sign up
Opening takes a passport or Emirates ID and a selfie. What you get is a foreign-currency account in Dubai that can pay out to China. Grey works with licensed partners serving the Gulf.
Fund
Give a foreign employer or client your Grey USD, EUR or GBP account details. When they pay, the money is ready to send to Guangzhou.
Send
For China, enter the beneficiary's name exactly as their bank holds it, plus bank, branch and account number. Confirm the CNY amount and send.
What the fee doesn't tell you
Grey does one conversion, USD to CNY, and shows it. What lands at ICBC, Bank of China, China Construction Bank, Agricultural Bank of China is what was on screen in Dubai.
The CNY figure doesn't move
Whatever the market does after you tap send in Dubai, the CNY amount arriving at ICBC is fixed.
For a bill with a due date in Guangzhou, this removes the guesswork.
The old way to Guangzhou, and why it costs more
Ask a bank in Dubai to send yuan and you'll often be told to send dollars instead. When you wire dollars to a Chinese supplier, their bank converts at a rate you never see and sometimes holds the funds for review. Yuan lands as a domestic credit.
How it lands in Guangzhou
CNY into any bank account in China. ICBC and ICBC, Bank of China, China Construction Bank, Agricultural Bank of China are all supported, and the credit looks domestic. The sender in Dubai sees the same settlement confirmation in the app.
Bank delivery
CNY to ICBC and any other bank in China.
Repeat recipients
Store a recipient once. Every future payment is three taps.
GreyTag
Both on Grey? GreyTag delivers instantly with no fee.
Getting money onto Grey in the UAE
Senders in Dubai don't fund Grey from a local bank. UAE residents fund Grey from foreign income: employer payroll in USD, overseas clients, family abroad. The balance sends onward without touching dirhams.
Get paid to Grey
USD, EUR or GBP account details in your name.
Keep it in dollars
Convert to CNY only when Guangzhou needs paying.
Send in one step
Rate shown, fee shown, CNY delivered.
Sending to ICBC for the first time? Check the account details twice. After that, Grey remembers them.
The people behind the UAE to China transfers
Agents and freight
Paying Chinese sourcing agents and forwarders in local currency.
Importers
Deposits and balance payments to factories in Guangzhou, Shenzhen, Yiwu and Ningbo.
E-commerce sellers
Recurring payments to suppliers on 1688 and Alibaba who accept bank transfer.
Students
Tuition at universities in Nanjing, Wuhan and Guangzhou, paid in yuan.
The senders on this corridor are easy to describe. Dubai and Abu Dhabi are expatriate cities. Residents earning from abroad hold USD on Grey and send home without a dirham step. Gulf traders buy from China at scale, and Chinese firms in the Gulf pay suppliers back home.
Why senders in Dubai switch
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