SMEs Serve as a “Buffer” for Globalisation

At the forum, Bill Deng, XTransfer Founder and CEO, delivered a keynote in the session "China Platforms Go Global". He described how Chinese e-commerce platforms have evolved from domestic "digital disruptors" to global "rule reshapers" and outlined key obstacles in cross-border payments, including compliance demands, geopolitics, and varying regulatory regimes. Deng noted that while deglobalization and geopolitical risks can weigh heavily on large enterprises, SMEs tend to be more resilient due to light-asset models and their ability to enter or exit markets quickly. In a fragmented global economy, SMEs can adapt faster, form new connections, and act as a "buffer" that supports stability and deeper global integration.

Deng was also invited to attend a closed-door meeting between Chinese Premier Li Qiang and business representatives, as well as multiple closed-door strategic discussions in the financial sector, where views were exchanged on payment risk management, international cooperation, and trends in Chinese companies expanding overseas.

Deng shared, "China's expansion is moving from 'trade going global' toward 'ecosystem going global' spanning manufacturing, brands, culture, and financial services, with SMEs playing a central role." He added that emerging markets are becoming new growth hotspots and urged businesses to leverage supply-chain strengths and move early into markets with strong demand and relatively limited competition.

Deng also shared that XTransfer has grown rapidly in recent years, with over 890,000 registered customers, partnerships with more than 170 financial institutions and provides services across 200+ countries and regions. In 2025, the platform processed over US$60 billion TPV, becoming the world's largest B2B cross-border trade payment platform.

He emphasised that risk control and compliance are the toughest challenges for cross-border payments. XTransfer's self-developed LLM, TradePilot, has helped keep the fraud rate at 0.003%, among the industry's lowest, enabling SMEs to transact safely, efficiently, and compliantly in global expansion.

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