SNSUC's transfer structure is clean on compliance: an offshore SPV with real economic substance signs the contract, the Chinese refiner clears customs and uses its own quota, and SNSUC acts only as the offshore supplier. SAFE has already given a clear stance on this new-type offshore international trade - where the deal is genuine and lawful, banks may handle the receipts and payments as an offshore resale.

Today's firmer yuan makes this path smoother. With USD/CNY at 6.6683, RMB settlement sheds a layer of routing friction compared with a dollar correspondent-bank chain, and the house rule of use-RMB-over-dollars-when-possible stands on firmer arithmetic. But note the offshore resale is, in principle, handled at the same bank and in the same currency.

Cross-bank or cross-currency is not forbidden; it must first be verified as genuine and lawful, and the remark special offshore resale must appear in the foreign-exchange declaration, with a report to the regulator within five working days of the transaction. This rule is not a gate on business but a trail for bank due diligence. We lock the currency and the bank before every letter of credit opens, so no retroactive patchwork later.