XTransfer Hosts "2024 TradeVision Summit"

Announces First "Export Purchasing Manager Index" SME Exports in B2B Sector Expand in July

SHENZHEN, China, Aug. 15, 2024 -- XTransfer 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 3,500 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, significantly improving our 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.