OFFICIAL PAYMENT PARTNER OF UEFA EURO 2024™

Earn a AUD200 bonus on your supplier payments

World Account

The all-in-one account to help your business grow internationally.

Featured Products

WorldTrade

Integrated payment and order solution

World Card

Lorem ipsum dolor sit dolor sit dolor sit amet.

Pay to wholesale marketplace effortlessly

User Guides

Partners

Partner Acquisition

Partner Directory

Better connecting the world
with WorldFirst

One-stop digital payment services platform for cross-border SMEs.

About WorldFirst

Asia

中国

简体中文

繁体中文

English

대한민국

한국어

English

Malaysia

English

Việt Nam

Tiếng Việt

English

Singapore

English

Indonesia

English

English

日本

日本語

English

Thailand

ภาษาไทย

English

Philippines

English

English

Oceania

Australia

English

New Zealand

English

Europe

United Kingdom

English

Deutschland

Deutsch

English

Nederland

Nederlands

France

Français

Europe

English

North America

México

Español

Other regions

Including India, Pakistan, Bangladesh, Nigeria, Morocco and 100+ other countries across 6 continents.

How to start trading with China in four steps

 

From making payments to understanding currencies, we’ve outlined four key steps to help your business start trading with China.

 

 

“I want to begin sourcing products from China, but I don’t know where to start. How do I make sure the supplier I decide upon is reputable and won’t leave me high and dry with poor quality products?”

 

Online B2B marketplaces and directories that connect Western businesses with the East, like Alibaba, are a good place to start. It’s worth conducting due diligence from the comfort of your desk in the UK as “trusted” status on some marketplaces can be “purchased” for the price of a fixed subscription fee, so it isn’t necessarily indicative of the past or future performance of the supplier. To help, Alibaba has a Trade Assurance scheme to protect your order if you’ve paid through Alibaba.com

Once you’ve done your initial marketplace research (and perhaps even ordered a few samples), the next step is to reach out to your peer network to see if there are any suppliers they’ve done business with that they would personally recommend.

Unfortunately, many online sellers’ competitive advantages lie in their supplier network, so asking them to divulge their secrets might not land you with the word of mouth recommendations you were hoping for, but it doesn’t hurt to ask. Finally, a trip to the Canton Fair or visiting select manufacturers and warehouses on the ground in China (perhaps those that you originally found on online B2B marketplaces) is the most sure-fire way to establish productive working relationships and build trust on both sides.

Exporting was probably summed up best by Will Butler Adams, CEO of Brompton Bikes. He told us businesses just need to “Get out there, have a laugh, meet some funny people, eat weird food, drink funny whisky. Exporting is a good laugh. It’s a such a no-brainer.”

In short, there are no guaranteed cheap and/or quick ways to find a supplier in China – there are very few shortcuts that don’t result in lots of trial and error for online sellers.

Open a World Account for free
  • Open 10+ local currency accounts with local account details
  • Direct CNH payments to 1688.com
  • Pay suppliers, partners and staff in 40+ currencies and 130+ destinations
  • Collect secure payments from 100+ marketplaces and payment gateways, including Amazon, AliExpress, Paypal and Shopify
  • Lock in currency conversion rates for up to 24 months
 

I want to pay my Chinese supplier in RMB, can you help?

Yes, WorldFirst can reach banks anywhere in China, so you can use a World Account to pay your Chinese suppliers.  Our fast and secure payments make it easy to pay your overseas suppliers.

 

Where can I sell my products in China?

TMallJD.com and Kaola are all popular marketplaces that cater to the domestic Chinese market. Alongside those, a rise in social media platforms offering eCommerce capabilities and features, such as WeChat Shops, allows huge audiences to seamlessly purchase products without having to leave the social media site, a boon for a country almost surgically attached to their smartphones. And if your brand can handle the lower exposure, launching your own standalone eCommerce site could offer you more ownership over the customer experience (and cut out commission costs per sale), providing you get the UX right and can handle longer loading speeds that turn off local shoppers used to snappy domestically-hosted websites.

 

What is the difference between CNH and CNY?

Currency in China can be confusing. Some call it RMB, short for renminbi, while you may also hear people refer to it as the ‘yuan’. CNH is used for international trade, while CNY is used for domestic payments. You can find out more in our guide to paying Chinese suppliers in RMB.

WorldFirst

 

Disclaimer: These comments are the views and opinions of the author and should not be construed as advice. You should act using your own information and judgement. Whilst information has been obtained from and is based upon multiple sources the author believes to be reliable, we do not guarantee its accuracy and it may be incomplete or condensed. All opinions and estimates constitute the author’s own judgement as of the date of the briefing and are subject to change without notice. Please consider FX derivatives are high risk, provide volatile returns and do not guarantee profits.

cover_img

Mexico e-commerce market: your next growth opportunity | WorldFirst

Mexico offers huge potential to grow your business – especially if you can make and receive payments easily. Here’s what you need to know about expanding your business to Mexico.

Mar / 2024
cover_img

Poland’s tech hubs driving business growth | WorldFirst

Discover how Warsaw and Krakow are driving business growth in Poland. Learn about their innovative tech scenes and opportunities for expansion.

Feb / 2024
cover_img

Increase sales with the new Polish zloty (PLN) local account | WorldFirst

Discover why you should be doing business with Poland and how easy it is to pay and get paid in the local currency, Polish Zloty

Jan / 2024
You might also like

Choose a category below for more business, finance and foreign exchange support from WorldFirst.

Businesses trust WorldFirst
  • Almost 1,000,000 businesses have sent USD$150B around the world with WorldFirst and its partner brands since 2004
  • Your money is safeguarded with leading financial institutions