🇨🇳 Pay Suppliers in China
Pay Chinese manufacturers for textiles, electronics, machinery, and consumer goods
T+0 (2.3s avg within Unicorn network). Save 83% vs traditional banks.
What you need to send money to China
What details do I need to pay suppliers in China?
To pay suppliers in China you need the recipient's CNAPS Code (12-digit China National Advanced Payment System code), plus account number and beneficiary name. Payments typically settle in 2.3 seconds and cost 0.5% FX spread + £5 per payment.
How fast are payments to China?
Payments to China settle in an average of 2.3 seconds when using local rails such as Alipay, compared to 2–3 days via traditional SWIFT.
How much does it cost to send money to China?
Unicorn Currencies charges 0.5% FX spread and £5 per payment. You save about 83% versus banks (e.g. £505 vs £3030 on a £100k transaction).
Cost Comparison: Banks vs Unicorn Currencies
See how much you save on £100,000 payment to China
| Cost Item | Traditional Banks | Unicorn Currencies |
|---|---|---|
| FX Spread | 3% | 0.5% |
| Payment Fee | £30 | £5 |
| Total Cost (£100,000) | £3,030 | £505 |
| YOUR SAVINGS | N/A | £2,525 (83%) |
| Settlement Time | 2-3 days (SWIFT) | T+0 (2.3s avg within Unicorn network) |
Local Payment Rails in China
Avoid expensive SWIFT fees. We use local payment systems in China for faster, cheaper settlement.
Alipay
Instant mobile payments, widely accepted by suppliers
UnionPay
China's national card network, lower fees than SWIFT
CIPS (Cross-border Interbank Payment System)
China's alternative to SWIFT, faster settlement
Who Uses This Payment Corridor
Key Industries in China
- Textile Manufacturing
- Electronics
- Consumer Goods
- Machinery
- Apparel
Average Transaction: £50k-£200k
Typical Monthly Volume: £300k-£3M
Popular Supplier Types
- Textile manufacturers (Guangzhou, Shenzhen)
- Electronics suppliers (Shenzhen, Shanghai)
- Machinery manufacturers (Ningbo, Dongguan)
- Consumer goods factories (Yiwu, Foshan)
What You Need to Know: China Payments
Regulatory Considerations
- SAFE (State Administration of Foreign Exchange) compliance required
- Commercial invoices must match payment purpose
- Dual-currency accounting may be needed for large volumes
- Capital controls apply to CNY flows
Payment Tips for China
- Avoid SWIFT fees (3-4%) by using local rails like UnionPay or CIPS
- Schedule payments before Chinese holidays (CNY week shuts down)
- Use freight forwarder as commercial invoice reference
- Lock FX rates before placing large orders to protect margins
Why Choose Unicorn for China Payments
Local Rails, Not SWIFT
We use Alipay and other local systems in China. Avoid 3-4% SWIFT fees and 2-3 day delays.
83% Lower Costs
Save £2,525 on every £100,000 payment. On £300k-£3M monthly volume, save up to £75,750 annually.
Bank of Canada Supervised
Registered Payment Service Provider (PSP) and FINTRAC MSB. Full regulatory compliance for China payments.
Real-Time FX Tracking
Upload supplier invoices in CNY. See live P/L as GBP/CNY rates move. Lock rates for 15 seconds before committing.
£1,000,000+ Paying Suppliers in China? Save 83%
Enterprise treasury for import/export businesses with T+0 (2.3s avg within Unicorn network) settlement to China
For businesses with high annual FX volume. Not consumer transfers.