Letters of credit are not really needed with China, it's more associated with poor credit rate countries and if you are selling large amounts to them.
I speak to three or four Chinese companies a week lol, even got invited to the big trade fair last November. I bought one thing once from China, it turned out to be money down the drain tbh. If you are thinking of buying something then get a sample, it is cheap to buy stuff from there but cheap for a reason so ask for a sample and make sure it's the quality your after or it'll be a waste.
Get them to post by Chinese mail and it will be on your doorstep in 3-4 weeks. Most companies are LTD like the UK, plus tell them you want to pay by PayPal or credit card then your covered.