General

Despite the severe environment, the collection volume of China's small, medium-sized and micro international trade enterprises in the first three quarters increased by 12.8% year on year, slightly higher than the 12.5% year-on-year growth rate of the national export volume denominated in US dollars announced by the General Administration of Customs. The data released by the Report on Export Trade (B2B) Index of Small, Medium and Micro Enterprises in the First Three Quarters of 2022 shows that small, medium and micro international trade enterprises are gradually crossing the stage of "price competition".

The report was recently released at the "2022 Future Foreign Trade Conference" under the guidance of the Commerce Industry Committee of the China Council for the Promotion of International Trade and hosted by XTransfer, a one-stop international trade enterprise cross-border finance and risk control service company. It is divided into two parts: China's Foreign Trade Export Leading Index in the First Three Quarters of 2022 and China's Small and Medium Foreign Trade Enterprise Competitiveness Index in the First Three Quarters of 2022.

The report predicts that although China's international trade exports still face huge challenges in the fourth quarter, there are also many favorable factors supporting its high-quality development. It is expected that China's foreign trade exports in the fourth quarter are expected to withstand the pressure, continue to break through, and achieve stability and quality improvement.

The textile and automobile industries performed well

Since this year, the global economic growth has slowed down, exchange rate fluctuations have led to increased demand decline, coupled with the changing international situation and the intrusion of the COVID-19, China's foreign trade exports are facing greater risks and challenges. However, the leading index of China's foreign trade exports in the first three quarters has risen compared with the same period in 2021.

From the perspective of export destinations, the top three destinations for small, medium and micro foreign trade enterprises in terms of receipts are North America, the European Union and ASEAN. Among them, the year-on-year growth rate for ASEAN countries is 23.6%, and that for North America countries is 10%, which has become an important driving force for the steady improvement of exports. At the same time, small, medium and micro foreign trade enterprises are also actively expanding emerging markets in Africa and Latin America.

From the perspective of export product category, the collection of textile raw materials and textile products from major export countries by small, medium-sized and micro international trade enterprises increased the most, with a year-on-year growth of 46%. Among them, clothing and clothing accessories, as well as cotton, silk, chemical fiber and other textile raw materials all showed a rapid growth; Secondly, the collection of mechanical and electrical products increased by 32.7% year on year; In addition, the collection of transportation equipment spare parts such as automobiles also increased by 24.2% year on year.

According to the report, as China's largest trading partner, ASEAN and China's industrial chain supply chain cooperation is deepening day by day. The growth of textile raw materials and textile products exports has provided strong support for the steady growth of China's foreign trade exports; In the first three quarters, China's automobile export grew 55.5% year on year, becoming the second largest automobile export country in the world, which significantly boosted the export of transportation equipment spare parts such as automobiles. Small and medium-sized international trade enterprises are an important complementary force behind it.

"The challenges faced by China's foreign trade exports in the fourth quarter are still huge, but there are also many favorable factors to support its high-quality development. First, the implementation of a series of rescue policies has created good conditions for the steady growth of exports in the next stage; second, foreign trade enterprises continue to improve their ability to cope with complex environments, such as expanding the market with digital means. In addition, Thanksgiving, Christmas and other holidays will promote the global season With the arrival of the sex consumption peak season, small, medium and micro foreign trade enterprises can seize the opportunity to create greater development space in the fourth quarter by virtue of the advantages of the industrial chain and flexible operating mechanism, and drive the steady growth of China's foreign trade exports. " Deng Guobiao, founder and CEO of XTransfer, said.

Further improvement of enterprise competitiveness

In the context of the sound development of foreign trade, the competitiveness of small, medium and micro foreign trade enterprises is also steadily improving.

The Competitiveness Index of China's Small, Medium and Micro sized Foreign Trade Enterprises in the First Three Quarters of 2022 shows that in the first three quarters, small, medium and micro sized international trade enterprises actively expand new channels and customers while enhancing their technical level and service capabilities, which makes their advantages in international competition more diversified and significant. It is expected that the fourth quarter will continue its excellent performance and further enhance its competitiveness.

It is worth mentioning that the multiple outbreaks of domestic epidemics in the first three quarters did not have too much impact on the competitiveness index of small, medium and micro foreign trade enterprises. The survey shows that, on the one hand, small, medium-sized and micro foreign trade enterprises actively improve their digital level, and strive to resolve the negative impact of the epidemic on overseas participation, offline transaction restrictions and other negative effects; At the same time, the supply chains of some small, medium and micro foreign trade enterprises are distributed in many parts of the country, and their anti risk ability has been effectively improved. On the other hand, under the complex and changeable international situation, small, medium and micro foreign trade enterprises can adjust their strategies more quickly and actively expand new markets and customers by virtue of their own flexibility. According to the survey, due to the slowing demand in Europe in the first three quarters, some small, medium-sized and micro foreign trade enterprises jumped out of the "comfort zone" and made efforts to tap the growth points facing ASEAN, North America and other emerging markets, ensuring the stable growth of the collection volume.

In addition, Deng Guobiao also mentioned that in addition to actively responding to the challenges posed by the external environment, many small, medium-sized and micro foreign trade enterprises also actively review themselves and constantly improve their core competitiveness, so as to turn "danger" into "opportunity". The survey found that small, medium-sized and micro foreign trade enterprises are gradually leaping over the development stage of "price competition", and gradually forming new international competitive advantages by improving product technology content, improving brand influence, enhancing service capabilities, and constantly enhancing innovation capabilities.