I’ve been trying to find a good solution to this problem for months. I deal with a lot of smaller domestic suppliers in China, which only have bank accounts in their local currency RMB. The problem is figuring out a efficient way to make payments. Many of the common money transfer services either don’t support RMB/CNY or their fees don’t make sense at large amounts. I’m currently going through a employee in China for transfers which is obviously not optimal. Ive heard certain banks in Hong Kong may be able to help, but to open a account there id need to travel and thats easier said than done these days.
For those that are sending large payments to china how are you handling it?
For those that are sending large payments to china how are you handling it?