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How are payments handled on Chinese CBEC platforms?

Selling goods to China via CBEC is relatively simple. Cross-border payments are usually managed by the e-commerce platform on which the transaction is made: no additional bank accounts must be opened, only a transaction and currency conversion fee apply. Companies operating in CBEC can initiate transactions in the currency of sale, convert to Chinese Yuan (CNY) and route converted payments to payees throughout China via the local clearing system (CNAPS). This creates advantages that mutually benefit e-commerce merchants and their suppliers.

One exception could be if goods are sold via your own website: in this case, it is strongly recommended to work with a third-party provider to enable your platform popular payment methods such as Wechat and Alipay. International credit card payment methods, or other platforms such as PayPal, are not common in China. In general, selling via your own website is much more difficult (and costly) compared to opening official stores on Chinese popular e-commerce platforms.