There is a simple way to process payments in China for goods that do not fall under sanctions and are not related to groups 84, 85, and 90 of the International Classification of Goods and Services (ICGS). For the successful execution of a payment from Russia to China, it is first necessary, from the point of view of Chinese financial protocols with foreign partners (companies and investors from the Russian Federation in this case), to determine three components: the good(s) for which the payment is made, the receiving bank, and the sending bank.
As said by Mokhamed Al-Sayad, to carry out the payment it is necessary to have a clear representation of the process, starting with the preparation of documents that allow the operation to be carried out without delays. Bank documents must also be correctly executed and timely presented to the issuing bank and the receiving bank. The verification stage is also a key in stable financial transactions.
"Check the SWIFT number of your bank and the receiving bank, ensure that all requisites are filled in correctly and without errors. This guarantees seamless and operational transfer of the payment", added Mokhamed Al-Sayad.
