The Competitiveness Of China's Small And Medium Foreign Trade Enterprises Has Increased Significantly

Recently, XTransfer, a one-stop cross-border financial and risk control service company for foreign trade enterprises, released the "2020 Competitiveness Index of China's Small and Medium-sized Foreign Trade Enterprises". The index shows that in 2020, the competitiveness of China's small and medium-sized foreign trade enterprises will increase significantly compared with the previous year.

The above index is based on the foreign trade collection data of more than 100,000 Chinese small and medium foreign trade companies engaged in B2B cross-border e-commerce serviced by XTransfer, reflecting the changes in the competitiveness of Chinese small and medium foreign trade companies in 2020 compared to 2019, and the difference in 2020 Trend of change over time.

The index shows that in the second half of 2020, the proportion of small and medium-sized foreign trade enterprises' order value to the first phase of order collection has increased significantly, and the average number of collections for a single order has decreased significantly. Deng Guobiao, the founder and CEO of XTransfer, said: "This phenomenon shows that the trust of Chinese suppliers in the world market is increasing, and the competitiveness of Chinese suppliers is steadily improving."

According to the platform data provided by XTransfer, in January 2020, the order amount of small and medium foreign trade enterprises in China increased by 12% compared with December 2019, and the prepayment ratio of orders increased by 9%. In February of the same year, affected by the domestic new crown pneumonia epidemic, China's small and medium-sized foreign trade enterprises' total trade orders decreased significantly, and the proportion of payment received in the first phase of orders decreased from the previous month. In March, as various regions stepped up production and resumed work, China's foreign trade began to recover, various indicators gradually improved, and the index rose steadily. In April, with the surge in demand for China's defense epidemic material exports, Chinese foreign trade companies made a strong attack and harvested large orders. The proportion of payment for the first phase of the order increased by 4% compared with March. As more and more Chinese foreign trade companies gradually gain the trust of international buyers in the export of epidemic prevention materials, the export operation efficiency of related companies has also been significantly improved. Data from the platform shows that during the same period, the average delivery time of small and medium-sized foreign trade companies in China has been shortened from the usual 28 days to 16 days, and 67% of the orders were prepaid. After May, China's small and medium-sized foreign trade companies began to export epidemic prevention materials to the production line of epidemic prevention materials and epidemic prevention materials, which strongly supported the global fight against the epidemic.

"The performance of competitiveness is a key factor that affects the development trend and direction of China's foreign trade." Deng Guobiao told reporters that from a macro perspective, the rise of China's foreign trade against the trend demonstrates the significant increase in the overall competitiveness of China's small and medium-sized foreign trade enterprises.

According to data released by the General Administration of Customs on January 14 this year, in 2020, the total value of China's import and export of goods trade was 32.16 trillion yuan, an increase of 1.9% over 2019. Among them, exports were 17.93 trillion yuan, an increase of 4%. Li Kuiwen, a spokesperson for the General Administration of Customs, pointed out that in 2020, China will become the only major economy in the world to achieve positive growth in trade in goods.