The 2nd Zhongshan Foreign Trade Finance Festival Summit was held on November 22, delivering valuable insights to entrepreneurs.

In recent years, Zhongshan has been continuously introducing one-stop, platform enterprises that offer cross-border finance and risk control services. This aims to address the problems in cross-border finance and accelerate the global expansion of Zhongshan-based foreign trade enterprises.

"Our company primarily exports display racks and sports products. As we saw a decrease in orders from the European and American markets last year, we are actively seeking new opportunities and focusing on developing markets in South America and the Middle East now," said Lin Weihong, founder of Zhongshan Chuangke Display Products Co.

Zhongshan Keyi Display Products Co is an enterprise that specializes in manufacturing display racks and shelves, and it has been engaged in export business for over 10 years. According to its general manager Ma Wenjie, Keyi mainly focuses on the European and American markets. In recent years, the company has also tapped into the Belt and Road markets, and cross-border financial service institutions have played a significant role in helping enterprises in Zhongshan expand overseas markets.

XTransfer, one of the one-stop, cross-border financial and risk control service platform enterprises Zhongshan introduces, currently has service centers in Guzhen Town and East District. It provides comprehensive solutions in foreign trade payment collection, multi-currency cash management, risk control and customer management.

To cater to the needs of foreign trade enterprises in expanding into emerging markets, the company has launched local payment collection service this year, which covers various countries and regions in Latin America, Southeast Asia and Africa. Buyers can make direct payments using local currencies, ensuring same-day arrival without any intermediate fees. This significantly enhances the efficiency of trade capital turnover.

According to customs data, Zhongshan's total export value in the first 10 months of 2023 stood at 181.879 billion yuan, down 5.2 percent from last year. However, private enterprises' total exports reached 88.552 billion yuan, registering a 1.7 percent increase from the previous year.