HONG KONG, Oct. 5, 2026 /PRNewswire/ — The 23rd China–ASEAN Expo (CAEXPO) opened in Nanning, Guangxi, in September 2026. XTransfer, a leading global B2B cross-border trade payment platform, made its debut at the event, showcasing its one-stop solution for Southeast Asia local collections and RMB settlement. The solution helps foreign trade companies overcome cross-border payment and settlement challenges and capture new opportunities from the growing China–ASEAN trade relationship.
ASEAN trade momentum is accelerating, driving demand for localised payments. In 2025, China–ASEAN bilateral trade exceeded USD 1 trillion for the first time, reaching USD 1.05 trillion (+7.4% YoY). China has been ASEAN’s largest trading partner for 17 consecutive years, while ASEAN has been China’s largest trading partner for six consecutive years. From January to July this year, bilateral trade totalled USD 744.41 billion (+24.7% YoY), accounting for 21.8% of China’s total foreign trade. As supply chains and commerce become more interconnected, businesses increasingly need efficient, flexible, multi-currency payment and collection capabilities to deepen their presence in Southeast Asia.
However, many exporters still face the bottleneck of “easy to export, hard to get paid”. ASEAN buyers often prefer paying in local currencies, while exporters may lack suitable collection channels. USD settlement can add FX costs and cross-border fees, and post-payment steps, including conversion, settlement, and repatriation, can slow cash flow and affect fulfilment. Businesses therefore need a full-chain solution covering pay, collect, settle, and repatriate.
To address this, XTransfer leverages its global local collection network and partnerships with licensed financial institutions to provide eligible companies with local-currency collection accounts in key ASEAN markets including Malaysia, Indonesia, Vietnam, and Thailand. Supported currencies include IDR, MYR, THB, VND, PHP, and SGD. Buyers can pay from local bank accounts via local clearing, while exporters can convert and settle into RMB through XTransfer, accelerating fund return and improving cash utilisation.
XTransfer remains committed to supporting secure and compliant operations while continuously optimising FX and settlement processes to deliver reliable, low-cost cross-border payment infrastructure.
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SOURCE XTransfer
