Guide
How to pay suppliers in China and Hong Kong
Importers, wholesalers and freight forwarders pay manufacturers in China and Hong Kong every week, and a delayed or returned wire can hold up a whole shipment. This guide explains how to send money to China and Hong Kong for business: the currency to pay in, the details to check, where payments go wrong and when stablecoins help.
Last reviewed by Alex Neale, Head of Payments and Treasury
- Usual currency
- US dollars, by international wire
- Alternative
- USDT or USDC, to the supplier's own wallet
- Pay from
- An account in your company's own name
- Fund with
- USD, EUR, GBP, AED or stablecoins your customers paid
- Rate
- Quoted and locked before you commit
The question: how does a business outside China pay its suppliers there reliably, at a rate it knows in advance, without payments arriving short, late or not at all?
How to pay suppliers in China and Hong Kong
Most manufacturers and trading companies in China and Hong Kong invoice in US dollars, and are paid by international wire into their company bank account. Some now also accept USDT or USDC. Whichever you use, the payment should go from an account in your company's name to an account in the name of the company on your invoice.
- Get the supplier's details in writing: the company name exactly as their bank holds it, the bank name, SWIFT code, account number and address.
- Check they match the invoice. The company you pay should be the company that sold you the goods.
- Add the supplier as a beneficiary. Our compliance team reviews each new beneficiary once, with the invoice or contract behind it.
- Fund the payment from your US dollar account, or convert from euros, pounds, dirhams or stablecoins at a rate you lock first.
- Approve and send. Your own approval rules apply before any money leaves.
Why payments to China go wrong
The name does not match
Banks match the beneficiary name on the wire against the account holder. A shortened name, a missing “Limited” or a brand name instead of the registered company name can get a payment held or returned. Copy the name exactly as the supplier's bank letter or invoice shows it.
The money arrives short
A US dollar wire can pass through correspondent banks on its way, and each one may take a fee from the amount. Your supplier then receives less than the invoice and asks you to make up the difference. When you send a wire you choose who pays these charges, so agree it with the supplier first. Our guide to B2B cross-border payments explains the charge options.
The supplier's bank asks questions
Mainland China has currency controls, and banks there may ask the supplier for the contract or invoice behind an incoming payment. A clear payment reference, such as the invoice number, helps the money reach the supplier without delay.
You are asked to pay someone else
Suppliers sometimes ask for payment to a different company, a director's personal account or a new bank. Sometimes there is a good reason. It is also the most common sign of invoice fraud. A payment to anyone other than the seller on your invoice needs its own approval, with documents that explain the link.
Time zones and cut-offs
Hong Kong and mainland China are hours ahead of Europe and the Americas, and each bank on the route has its own cut-off. A wire sent late in your day may not move until the next banking day there. Our guide to weekend settlement and cut-off times covers the bank side.
Paying in US dollars or in stablecoins
| Consideration | US dollar wire | USDT or USDC |
|---|---|---|
| What the supplier receives | US dollars in their company bank account | Stablecoins in a wallet they control |
| When it moves | Banking days, subject to cut-offs on the route | Any day, near-instant once sent |
| Main thing to check | The beneficiary name and bank details | The wallet address and network |
| Suits | Most suppliers, and anyone who needs a bank record | Suppliers who ask for it and can show the wallet is theirs |
Only pay in stablecoins when the supplier asks for it. Confirm the address and the network through a contact you already trust, because stablecoins sent to the wrong address or network may be impossible to recover.
When your customers pay you in stablecoins
Many trading businesses sit in the middle: customers pay them in USDT or USDC, and suppliers in China want US dollars. You can receive the stablecoins, convert them at a locked rate and pay the supplier from your US dollar account, with a record of each step. Or, if the supplier accepts stablecoins, you can send them on directly. See how this works for importers and exporters.
How Sentvia handles supplier payments
- Accounts in your company's name in US dollars, euros, pounds and dirhams, so your supplier sees your company as the payer. See multi-currency accounts.
- Rates locked before you commit when you convert to US dollars from another currency or from stablecoins.
- Approved beneficiaries. Each supplier is reviewed once, and approval flows let more than one person sign off each payment.
- A named contact who knows your business, for when a payment needs chasing.
What to have ready
- The supplier's registered company name, address and bank details
- The invoice or proforma invoice, and the contract or purchase order behind it
- For stablecoin payments, the wallet address and network, confirmed by the supplier
- A payment reference the supplier can match, such as the invoice number
This guide is general information, not legal advice. Rules on incoming payments are set by each supplier's bank and jurisdiction.
FAQ
Common questions
- How do I send money to China for business?
- Most suppliers in China and Hong Kong invoice in US dollars. Add the supplier as a beneficiary, check the invoice details match their bank account, and pay the US dollars by international wire. If the supplier asks for USDT or USDC instead, that can be sent to a wallet they control.
- Does Sentvia pay in renminbi or Hong Kong dollars?
- No. Sentvia pays in US dollars, euros, pounds and dirhams, and in USDT and USDC. Most suppliers in China and Hong Kong quote and invoice in US dollars, which their bank receives as a normal international wire.
- Can I pay a Hong Kong company for goods made in mainland China?
- Yes, as long as the Hong Kong company is the seller on your invoice and contract. Many manufacturers sell through a Hong Kong trading company. The payment should go to the company named on the invoice, not to a different one.
- How long does a wire to China or Hong Kong take?
- It depends on the banks on the route and on cut-off times in each time zone. A US dollar wire can pass through one or more correspondent banks before it reaches the supplier. Processing times depend on currency, jurisdiction and bank rails used.
- Can I pay a supplier in USDT?
- Yes, once the supplier is approved as a beneficiary. Confirm the wallet address and network with the supplier through a contact you already trust, and check the address belongs to the company on your invoice.
- Can I use stablecoins my customers paid me to pay my supplier?
- Yes. Stablecoins your customers send can be converted to US dollars and paid to your supplier, or sent on as stablecoins if the supplier accepts them. Both legs run through accounts in your company's own name.
- The supplier says their bank details have changed. What should I do?
- Stop and check before paying. Call the supplier on a number you already have, not one in the email, and ask for the change in writing on company letterhead. Pay nothing to the new details until they are confirmed.
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