XTransfer‘s new PMI report for July 2025 reveals a significant trend. Chinese SMEs are increasingly looking to emerging markets, with Africa leading export growth.
A Shift in Global Trade Dynamics
At the XTransfer TradeVision Summit 2025 held in Guangzhou, new data highlighted the changing landscape of international commerce for China‘s small and medium-sized enterprises (SMEs). The event, supported by financial institutions including ICBC, Bank of China, and Deutsche Bank, gathered over 3,000 industry representatives to discuss new global opportunities.
During the summit, XTransfer Founder and CEO Bill Deng explained that ongoing trade disputes are no longer confined to China and the United States but have become a global issue. He noted the remarkable resilience of China‘s foreign trade SMEs, which are proactively seeking opportunities outside of traditional European and American markets. Deng identified emerging markets, particularly in Africa, as new areas for export growth, citing their demographic advantages and infrastructure needs. He also outlined XTransfer‘s ambition for tenfold growth over the next five years, aiming to solidify a mobile payment revolution in B2B trade.
Key Findings from the July 2025 XTransfer PMI
The newly launched XTransfer Small and Medium Enterprises (B2B) Merchandise Export Purchasing Manager Index (XTransfer PMI) for July 2025 registered a reading of 52.4, staying above the 50-point threshold that indicates expansion. This suggests continued positive momentum in exports for China‘s SMEs. The index is the first of its kind initiated by a private sector company, compiled from a survey of over 2,500 SMEs on the XTransfer platform. Sub-indices, including the Export Orders Index and Export Price Index, also remained strong, reinforcing the stable export environment.
Emerging Markets Lead the Way
A breakdown by region revealed that African countries recorded the highest Export PMI at 53.7. The Export Orders Index for Africa was particularly strong, with Ghana and Nigeria showing notable performance. As demand from the U.S. market moderates, markets in Asia, Africa, and Latin America are demonstrating robust growth potential. To support this shift, XTransfer is enhancing its services by introducing Local Currency Accounts in collaboration with financial institutions in countries like Nigeria, Brazil, and South Africa. This initiative facilitates payments in over 30 local currencies, including the Nigerian Naira and Brazilian Real, streamlining transactions for buyers.
The “New Three” Categories Drive Growth
The structure of China‘s exports is also evolving. While mechanical products and textiles remain important, the “New Three” categories—lithium batteries, new energy vehicles, and solar cells—are showing exceptional performance. The Export Price Index for these products was significantly higher than the overall market average. Southeast Asian nations like Vietnam and Thailand have become major destinations for these goods. This growth is also fueled by renewable energy policies in Europe and increasing infrastructure demands in Latin America and Africa. Customer feedback indicates that SMEs are adapting to global competition by focusing on product innovation and market diversification.
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