The UAE has become China’s largest export market and second-largest trading partner among Arab countries. In 2023, China exported goods worth RMB 39.2 billion to the UAE, a 10.3% year-on-year increase. This growing partnership is fueled by complementary industrial structures and thriving trade exchanges, particularly among SMEs. XTransfer’s data reveals a noteworthy 15.2% year-on-year increase in money collected by Chinese SMEs from the UAE in 2023.
XTransfer, focusing on B2B foreign trade financial services for six years, has served over 400,000 foreign trade enterprises and is now China’s No.1 B2B foreign trade payment platform. This year, XTransfer launched its internationalisation service, attracting trading enterprises worldwide. By utilising XTransfer accounts for both buyers and sellers, secure, compliant, and 24/7 payment settlement can be achieved, saving up to 95% of remittance fees and 20% of currency conversion costs. XTransfer’s comprehensive solution addresses collection challenges for sellers while meeting the needs of global buyers, ensuring a seamless flow of trade funds.
During the exhibition, XTransfer showcased its secure, compliant, and convenient cross-border payment services, gaining attention and recognition from UAE and Middle Eastern enterprises. XTransfer aims to expand its presence in the Middle East market by facilitating trade not only between Middle Eastern and Chinese enterprises but also by improving trade convenience for Middle Eastern and global enterprises. Last November, H.E. Hussain Al Hammadi, the Ambassador of the UAE and H.E. Muhannad Alnaqbi, the Consul General of the UAE, visited XTransfer headquarters in Shanghai, China. During their visit, they expressed their appreciation for XTransfer’s innovative business model and remarkable achievements. Their endorsement further solidified our confidence in pursuing growth opportunities in the Middle East market.
According to Bill Deng, Founder and CEO of XTransfer, tens of thousands of overseas enterprises are currently inquiring about and signing up for the service. In the future, global buyers and sellers will jointly benefit from the ultimate convenience provided by the XTransfer platform.
