$64 billion is sent from the US to China — but how? | finder.com
Chess US Chinese currency money

How much money is sent to China from the US?

In 2014, more than $64 billion was sent from the US to China.

When immigrant workers send money to their home countries, it’s a form of insurance that helps to absorb the shock of financial emergencies and everyday expenses on families and communities. It’s a traditional means of financial support for family members left behind in those countries.In 2014, the World Bank reported that China received its highest level of money from the US at $64.14 billion, and the World Bank forecasts that China could receive as much as $66 billion from Chinese nationals abroad in 2015.

This figure is triple the 2005 numbers — a total of $23.62 billion.

In recent years, the flow of money transfers to China has increased along with the number of overseas Chinese workers. China is currently the world’s fourth-largest source of immigrants and the most populous nation.

What is a remittance?

A remittance is funds or other assets sent by migrants to their home countries either directly or as compensation for temporary or seasonal employment.

The amount of money sent between China and the US has grown considerably over the past 15 years.

YearUS to China (in millions)China to US (in millions)

Other countries are also major contributors to the remittances flow for China, including this top 10. (Numbers based on 2015 remittances flow.)

Country of origin
Amount to China (in millions)
United States$16,254
Hong Kong$15,583
South Korea$4,146
United Kingdom$970
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How do I transfer money to China — and save money?

To transfer money to China — or overseas in general — consider using an overseas money transfer website to easily and safely get your money to loved ones and businesses.

OFX and World First can help you transfer money into China with low fees and strong exchange rates.

Shirley Liu

Shirley Liu is a program manager at finder, formerly the publisher for Banking and Investments. She is passionate about helping people make an informed decision, save money and find the best deal for their needs.

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