How to pay suppliers in China
SWIFT to a Hong Kong or mainland account, or USDT to a wallet. What the invoice decides, what each costs and how long each takes.
- Most Chinese suppliers invoice in USD, 30% deposit and 70% balance, often through a Hong Kong company.
- SWIFT to a Hong Kong account arrives in one to two business days; send with charges set to OUR.
- USDT on Tron settles in minutes, seven days a week; confirm the wallet address by a second channel first.
- Track the deposit and the balance as two payments against one order.
- Pay from a USD account held in USD, with SWIFT and USDT from one recipient list and finance for the balance.
How Chinese suppliers invoice
Most factories invoice in USD and ask for a 30% deposit before production and the 70% balance before the goods ship, against a copy of the bill of lading. Many invoice through a Hong Kong company and give a Hong Kong bank account for payment; some give a mainland account in USD or CNY; a growing number ask to be paid in USDT. The invoice decides the rail.
The three ways to pay
| Supplier gives you | Rail | Arrives | Notes | |
|---|---|---|---|---|
| A Hong Kong bank account in USD | SWIFT | 1 to 2 business days | 1 to 3 business days | The most common case; Hong Kong banks receive USD routinely |
| A mainland China bank account in USD | SWIFT | 1 to 3 business days | 1 to 3 business days | The supplier's bank may ask the supplier for the contract and invoice before crediting |
| A USDT wallet address on Tron | USDT | Minutes, seven days a week | Confirm the address by a second channel before the first payment; payments are final |
Helm sends all three from the same recipient list, with the fee, the rate and the arrival date shown before you approve; see International Payments and Digital Dollars.
Paying by SWIFT
You need the supplier's account name exactly as the bank holds it, the account number, the bank's SWIFT code and the bank's address. Send with charges set to OUR so the supplier receives the full amount; a short payment delays shipment while the supplier queries it. Put the proforma invoice number in the payment reference. Hong Kong banks usually credit within one business day; mainland banks may take a further day while the supplier's bank completes its own checks. The SWIFT code lookup lists the codes of the main banks in Hong Kong and China.
Paying in USDT
A USDT payment on Tron costs a small network fee and settles in minutes, at any hour. Three rules: confirm the wallet address with the supplier by a second channel, since the address on an email can be altered; send a small test payment before the first large one; and keep the invoice reference against the payment in your records, since the network itself carries no reference. Helm confirms each new recipient before the first payment and shows every USDT payment, with its invoice reference, in the same account as your bank payments.
Deposit and balance
Treat the deposit and the balance as two payments against one order. Pay the deposit when the proforma invoice is agreed; pay the balance when the supplier sends the bill of lading copy and, if you use one, the inspection report. Helm tracks both payments against the order reference, and supplier finance can cover the balance so you repay after the goods have landed and started to sell; see Trade Finance.
The account to pay from
A USD account in your company's name, held in USD so the balance payment is not converted on the day it falls due, with SWIFT and USDT from one recipient list and finance for the balance. The guide to business accounts for importers compares providers, and the importers page shows how Helm is used for exactly this trade.
Open a Helm account
USD, EUR and GBP accounts in your company's name, international payments on bank rails and in digital dollars, and trade finance. A named account manager from the first call.
Open accountQuestions
Can I pay a Chinese supplier in USD from outside China?
Yes, by SWIFT to the supplier's Hong Kong or mainland bank account, or in USDT to the supplier's wallet. Helm sends both.
Why does the supplier want to be paid to a Hong Kong company?
Many mainland factories sell through a Hong Kong trading entity, which receives USD without the documentation checks a mainland bank applies to foreign currency receipts. It is routine; check that the Hong Kong company appears on the invoice.
Should I pay in USDT?
If the supplier asks for it and you have confirmed the wallet address by a second channel. It settles in minutes, including at weekends, and the payment is final.
What is the SWIFT code for a Chinese bank?
Each bank has its own, for example Bank of China (BKCHCNBJ) and ICBC (ICBKCNBJ). The supplier's invoice should state the exact code; the SWIFT code lookup on this site lists the main banks.
Can I finance the balance payment?
Yes. Helm offers supplier finance: Helm pays the balance and you repay on a fixed date after the goods arrive.
References
- Swift: Cross-border payments
- Hong Kong Monetary Authority
- Tether: Transparency
- Tron: Network documentation
This guide is general information for businesses, not financial, legal or tax advice. Fees and timings quoted for other providers are taken from their published pages on the review date and may change.