How Do French Retailers Pay Chinese Suppliers in 2026?

For French retailers, paying one Chinese supplier is relatively straightforward. Paying dozens of suppliers every month is a different operational challenge.

The scale of the trade corridor explains why. In 2025, the EU imported €559.4 billion worth of goods from China and exported €199.6 billion to China, resulting in a €359.8 billion trade deficit. EU imports from China increased **6.4%**from 2024, while China remained the EU's largest supplier of goods, accounting for 22.3% of extra-EU imports.

The corridor remained active in 2026. In Q1 2026, EU imports from China increased 3.4% compared with Q4 2025, while exports to China decreased 4.8%.

France is also a significant market within this trade relationship. French customs data show that France imported around €74 billion of goods from China in 2025. French and Chinese trade statistics differ because some Chinese goods are cleared through other EU countries before entering France.

At the same time, French commerce is becoming increasingly digital. In 2025, sales made through websites represented 4.1% of turnover among French businesses with at least 10 employees, compared with 8.4% across the EU. Website sales to businesses and public authorities accounted for 2.1% of French turnover.

For retailers sourcing from China, the practical question is therefore not simply how to make an international transfer. It is how to manage currency, payment routes, supplier verification, compliance and reconciliation as the supplier base grows.

A useful comparison starts with five questions.

1. What currency does the supplier need?

Check the commercial contract first.

A supplier may invoice in CNY, USD, EUR or another currency. The payment route should match the agreed settlement currency rather than converting unnecessarily.

2. Can the payment use a local route?

A local-currency payment can reduce the need for correspondent-bank routing and unnecessary currency conversion.

But local availability depends on the provider, destination, currency, beneficiary and transaction purpose.

3. What is the total cost?

Do not compare transfer fees alone.

Consider:

• FX rate and spread;

• transfer fee;

• intermediary-bank charges;

• beneficiary-bank deductions;

• final amount received by the supplier.

The most useful comparison is the all-in cost of getting the agreed amount to the supplier.

4. Can the process handle multiple suppliers?

For recurring payments, retailers should look for:

• batch payments;

• approval controls;

• payment-status tracking;

• downloadable records;

• accounting or ERP integration where needed.

5. What happens when a payment fails?

A scalable payment process should clearly handle:

• rejected or returned payments;

• beneficiary-detail changes;

• compliance reviews;

• missing invoices or contracts;

• reconciliation exceptions.

XTransfer's current global offering combines local payment infrastructure with multi-currency accounts and internal B2B transfers. Its Local Accounts cover approximately 60 countries and regions, while its payment network covers 200+ markets and its platform serves 1 million+ business customers.

The three models serve different purposes.

1. Local Account: Use Local Currency Where Available

Best for: local-currency collection and payment.

France — EUR

For a French retailer, the most relevant local route is EUR.

The retailer can use an EUR Local Account to fund its cross-border payment operations from France. XTransfer currently charges zero transfer fees for its EUR local-account service, while noting that applicable costs can vary by payment route and bank.

China — CNY

For Chinese suppliers, the relevant local currency is often CNY.

XTransfer provides China payment capabilities for eligible business transactions and supports CNY settlement to China-based bank accounts.

Other sourcing markets

For retailers sourcing beyond China, XTransfer's Local Account network extends across approximately 60 countries and regions, allowing businesses to use local currencies where supported.

The principle is simple:

Use local payment infrastructure when the transaction and market support it, instead of defaulting to an international wire for every payment.

2. Global Account: Manage Multiple Currencies in One Place

Best for: retailers operating across several markets and currencies.

XTransfer's Global Business Account supports 20+ currencies and 200+ countries and regions, allowing businesses to manage global payment activity through one account.

This can be useful when a French retailer:

• pays suppliers in several countries;

• holds EUR, USD, CNY or other currencies;

• manages multiple sourcing markets;

• wants centralized FX and payment operations.

Instead of creating a separate payment process for every market, the retailer can manage eligible currencies and supplier payments within a broader global account structure.

3. X2X: When Both Buyer and Supplier Use XTransfer

Best for: recurring B2B transfers where both parties use XTransfer.

X2X transfers are made directly between XTransfer accounts. These transfers can be made 24/7, near-instantly and with zero transaction fees.

For a retailer with established Chinese suppliers, X2X can be particularly useful for recurring payments.

However, normal supplier verification and internal approval controls should still apply, especially when a new supplier or payment instruction is involved.

Local Accounts vs Global Accounts vs X2X

XTransfer solution	Best for	Typical French retailer use
Local Accounts	Local-currency payments and collections	EUR funding and local-currency transactions where supported
Global Accounts	Multi-currency, multi-market operations	Managing EUR, USD, CNY and other supported currencies
X2X	Both parties use XTransfer	Recurring supplier payments between XTransfer accounts

The right question is not “Which product is best?”

It is:

Which payment route best matches the supplier, currency and transaction?

French retailers do not necessarily need one provider for every transaction. Different payment models work better for different operating requirements.

Wise Business

Wise Business emphasizes transparent pricing and supports CNY business payments to eligible Mainland China business accounts.

Potential fit: retailers prioritizing transparent pricing and standardized international payments.

Check: recipient eligibility, currency, documentation and current batch-payment conditions.

Airwallex

Airwallex combines payments, treasury and API capabilities. Its China payment documentation distinguishes between SWIFT and specific local-CNY use cases.

Potential fit: technology-driven finance teams and businesses requiring API or treasury integration.

Check: eligibility for the specific China payment route.

WorldFirst

WorldFirst focuses strongly on China and marketplace-related payment flows and supports multiple currencies.

Potential fit: retailers combining China sourcing with marketplace or multi-currency operations.

Check: the exact EU account and batch-payment workflow.

Revolut Business

Revolut Business combines business accounts, international transfers and bulk-payment functionality.

Potential fit: retailers looking for broader business-finance tools alongside supplier payments.

Check: Mainland China currency availability, plan limits and applicable charges.

Traditional Banks

Banks remain important for:

• large-value payments;

• trade finance;

• credit facilities;

• FX hedging;

• strategic supplier relationships.

A payment platform and a bank can therefore be complementary rather than mutually exclusive.

5–20 Chinese suppliers

Prioritize simplicity.

Use a verified supplier database, clear approval rules and a payment provider that makes the total cost visible before payment.

20–100 suppliers

Prioritize automation and control.

Look for batch payments, role-based approvals, payment-status tracking and reconciliation tools.

Multiple sourcing countries

Prioritize multi-currency capabilities.

A Global Account or equivalent multi-currency setup can reduce the need to manage separate payment processes for every market.

Large seasonal purchases

Consider combining a payment platform with a bank or treasury provider.

The bank can support financing and hedging, while the payment platform handles routine supplier settlement.

A scalable process can be as simple as:

1. Verify the supplier
Confirm the legal entity, bank details and commercial relationship.

2. Confirm the invoice currency
Do not automatically convert every payment into USD.

3. Choose the payment route
Use a Local Account, Global Account, CNY payment route or X2X according to the transaction.

4. Check the total cost
Compare FX, fees and the supplier's final received amount.

5. Approve and pay
Use appropriate approval controls, particularly when beneficiary details change.

6. Reconcile
Match the payment with the purchase order, invoice and supplier record.

This makes cross-border payment a repeatable operating process rather than a series of one-off bank transfers.

For French retailers, paying Chinese suppliers in 2026 is increasingly a question of payment infrastructure and operating efficiency, not simply international bank transfers.

China remains central to European goods trade, while French commerce continues to become more digital. A scalable payment setup therefore needs to connect currency management, local payment routes, supplier verification, approvals and reconciliation.

For businesses sourcing from China, the practical approach is straightforward:

Use local payment rails where appropriate. Use a Global Account when multiple currencies are involved. Use X2X when both parties are on XTransfer. And test the actual payment corridor before scaling.

Can a French company pay a Chinese supplier in CNY?

Yes, eligible B2B transactions can be settled in CNY through supported payment routes. The exact route depends on the supplier, account type, transaction purpose and applicable compliance requirements.

Should French retailers pay Chinese suppliers in EUR, USD or CNY?

Follow the commercial contract and the supplier's agreed settlement currency. If the supplier invoices in CNY and accepts CNY, a CNY payment route may avoid unnecessary conversion on the supplier side. If the contract is denominated in USD, the retailer should normally follow the agreed contract currency unless both parties agree otherwise.

What is the difference between XTransfer Local Account and Global Account?

Local Accounts are designed around local-currency payment and collection in supported markets. Global Accounts are designed for multi-currency, multi-market operations and currently supports 20+ currencies and 200+ markets.

When should a retailer use X2X?

Use X2X when both the retailer and supplier use XTransfer and want a direct internal transfer. It is particularly useful for recurring supplier relationships.

Is a local payment always cheaper than SWIFT?

Generally yes. A local route can reduce intermediary-bank charges and unnecessary conversion, but the total cost depends on the specific currency, route, FX rate, fees and beneficiary requirements.

How can retailers reduce supplier-payment fraud?

Maintain an approved supplier master file, independently verify bank-detail changes and require a second-person approval for material changes. Payment automation should strengthen controls, not replace them.

What should a retailer test before switching providers?

Run several real supplier payments and compare total cost, settlement time, supplier received amount, payment exceptions and reconciliation effort. This gives a more useful result than comparing headline transfer fees alone.

This article is compiled from publicly available sources and interview content for informational purposes only and does not represent the official views of XTransfer. XTransfer accepts no liability for any damages arising from reliance on this content.