Announces First “Export Purchasing Manager Index” SME Exports in B2B Sector Expand in July
SHENZHEN, China, Aug. 15, 2024 /PRNewswire/ — XTransfer, the World’s Leading & China’s No.1 B2B Cross-Border Trade Payment Platform, successfully hosted the annual grand event of the Chinese foreign trade industry, the “2024 Trade Vision Summit” in Shenzhen.
The summit, themed “GIobaI Business Wide Open Navigating the DigitaI Future”, esteemed guests including Bill Deng, Founder and CEO of XTransfer, and the prominent financial writer Wu Xiaobo, together with over 3,000 foreign trade SME owners focusing on the discussion of digital transformation within the foreign trade industry.
During the event, Bill Deng, Founder and CEO of XTransfer, announced, “Up to now, XTransfer has served over 550,000 foreign trade SME customers. Additionally, our full-featured B2B cross-border trade payment platform has undergone digital transformation, achieving a significant upgrade in providing a one-stop solution, including foreign trade collection, multi-currency cash management, FX, investment, and risk management services. With our comprehensive services, we are able to cover more business scenarios, providing fast payments to more markets worldwide.
In the summit, Bill took the opportunity to announce the July “Small and Medium Enterprises (B2B) Merchandise Export Purchasing Manager Index” (referred to as XTransfer Export PMI), the first index initiated by the private sector focusing on export trends in the foreign trade industry in China. Data shows that in July, the XTransfer Export PMI reached 50.4%, slightly above the threshold, indicating that mainland Chinese foreign trade SMEs’ export situation is generally positive, demonstrating resilience. The survey shows that clothing, furniture, and home appliances, the “Old Three” remain the major export items of mainland Chinese foreign trade SMEs. Additionally, categories involving the “New Three” such as new energy automotive parts and intelligent audio-video in-car equipment, perform well in terms of Export Order and Export Goods Price Indices.
The XTransfer Export PMI was compiled through sampling surveys of 550,000 B2B foreign trade SMEs on XTransfer’s platform, analyzing dimensions including export orders, prices, procurement, logistics, practitioner, capital turnover, and other aspects related to the complete process of foreign trade exports, aiming to provide important guidance and strategic basis for the foreign trade SMEs in their export trade business in the near future. The first issue of the national version of XTransfer Export PMI conducted questionnaire surveys and in-depth interviews with representative customers from 2,000 mainland Chinese foreign trade SMEs on our platform, distributed across 28 export provinces in China and spanning 116 cities.
Among the 2,000 mainland Chinese foreign trade SMEs surveyed, the major export countries and regions over the past three months covered 152, with the top 5 countries and regions being the United States, Hong Kong, China, the United Kingdom, Germany, and Australia. Hong Kong, China remains an important channel for mainland Chinese foreign trade SMEs for re-export trade.
Moreover, looking at the segment index, mainland Chinese foreign trade SMEs show good performance in the export order index to the emerging economies of ASEAN, Africa, and Latin America, indicating continued exploration of new markets by mainland Chinese foreign trade SMEs. It is worth noting that the logistics efficiency index for exports to Latin American countries is significantly higher than in other regions, mainly due to the increasingly mature air and sea freight routes between China and Latin American countries this year.
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About XTransfer
XTransfer, World’s Leading & China’s No.1 B2B Cross-Border Trade Payment Platform, is dedicated to providing SMEs with secure, compliant, fast, convenient and low-cost foreign trade payment & fund collection solutions, significantly reducing the cost of global expansion and enhancing global competitiveness. Founded in 2017, the company is headquartered in Shanghai and has branches in Hong Kong SAR, the United Kingdom, the Netherlands, the United States, Canada, Japan, Australia, and Singapore. XTransfer has obtained local payment licenses in Hong Kong, the United Kingdom, the United States, Canada, and Australia. With more than 550,000 enterprise clients, XTransfer has become the industry No.1 in China.
By cooperating with well-known multinational banks and financial institutions, XTransfer has built a unified global multi-currency clearing network and built a data-based, automated, Internet-based and intelligent anti-money laundering risk control infrastructure centred on small and medium enterprises. XTransfer uses technology as a bridge to link large financial institutions and small and medium enterprises around the world, allowing SMEs to enjoy the same level of cross-border financial services as large multinational corporations.
XTransfer completed its Series D financing in September 2021 and achieved unicorn status. The Company possesses a diverse composition of international investors, including D1 Capital Partners LP, Telstra Ventures, China Merchants Venture, eWTP Capital, Yunqi Capital, Gaorong Capital, 01VC, MindWorks and Lavender Hill Capital Partners.
For more information: https://www.xtransfer.com/
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