Q:If a domestic company makes renminbi payments to a foreign employee and the payments are made within China，is an international payments declaration required?

A:Such transactions are covered by the provisions of Article 4 of the Rules for the Implementation of International Payments Statistics Declaration through Banks (hereinafter referred to as the Rules). These payments are considered to be transactions between domestic residents and domestic non-residents. Domestic enterprises are therefore required to make a declaration of international payments for such transactions with domestic non-residents.

Q: But is a declaration required for all renminbi transactions?

A:According to the relevant provisions of Article 4 of the Rules，declarations are not required for "temporary" renminbi payments between domestic residents and domestic non-residents. Moreover，according to Article 8 of the Rules，declarations are not necessary for payments of less than US$5,000 to individuals. However，transactions between domestic non-residents and overseas individuals and enterprises do require a declaration.