Why wouldn't a reputable business accept a more secure means of payment? Surely foreign companies are set up for credit cards right?
Wrong. Despite what American Express wants you to believe, they are not everywhere you want to be. Neither is Visa or MasterCard. China, if you'll recall, is not a capitalist society. Their credit system is controlled by the central bank and they do not accept Visa.
There are very few companies in China that accept foriegn credit cards. Most that do are tourist related businesses, many of which have their credit card processing done in a non-chinese bank.
Visa and JCP (japanese credit card company) have just recently started taking an interest in the Chinese market. But it will be a long time before the government gives them free reign.
Welcome to the world of international business where not everyone does things the way the United States does. Wire transfers are very common. Even between the US and Europe, you are more than likely going to use a wire transfer instead of a credit card.