Chinese fintech service providers introduced new financial tools and support initiatives during the 137th China Import and Export Fair (Canton Fair) to help exporters strengthen their global market presence. These efforts focus on improving efficiency, reducing costs, and overcoming challenges in cross-border trade, particularly for small and medium-sized enterprises (SMEs).
WorldFirst, an international payment service provider under Ant International, unveiled its ‘Guardian Plan,’ a comprehensive cross-border financial services solution. The plan integrates digital tools to enhance payment systems, order fulfillment, foreign exchange management, and overall financial operations for SMEs. According to the company, the initiative can boost fund circulation efficiency by up to 30%.
Ma Qisheng, General Manager of WorldFirst China’s cross-border trade division, highlighted that reliable digital payment services address localization challenges often faced by Chinese businesses expanding overseas. He noted that the ‘Guardian Plan’ aims to build buyer trust, cut operational costs, and support entry into emerging markets.
Traditionally, cross-border payments could take about a week to process with high intermediary fees. The new platform enables faster transactions, sometimes within hours, through features like global collections, fulfillment, and currency exchange services. In April, WorldFirst also launched its digital and cross-border trade operations center in Guangzhou to support the growth of digital exports.
As of 2024, WorldFirst had facilitated over $300 billion in transactions for more than one million micro-multinational businesses worldwide.
Guangzhou-based clothing firm PrintFash has already adopted the service. Founder Zhang Haihan said the company uses digital tools such as AI design and flexible supply chains to run a print-on-demand platform that supports personalized, small-batch T-shirt production for international buyers. The firm has expanded into markets like Ethiopia and reported saving 40% in payment costs by using WorldFirst services for OEM children’s apparel.
Another key player, Shanghai-based XTransfer, announced plans to help Chinese exporters open local accounts in over 30 currencies to minimize foreign exchange losses. CEO Deng Guobiao pointed out that direct settlements in currencies like the Mexican peso can protect against dollar-related volatility.
XTransfer also intends to offer SMEs credit loans and order financing to support better cash flow. The company is focusing on risk control in Asia, Africa, and Latin America and has developed a tailored financial model, TradePilot, to support exporters’ sales and customer acquisition strategies.
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