Standard Chartered promotes financial service for China's SMEs

Standard Chartered China upgraded its financial service for small and medium-sized enterprises on Thursday during the eighth China International Import Expo (CIIE) in Shanghai.

With a more comprehensive product suite and smarter service model, the Global One financial solution aims to empower SMEs in expanding their overseas markets.

"The global trade landscape is evolving rapidly, bringing both new opportunities and challenges for small and medium-sized enterprises," said Li Feng, deputy CEO of Standard Chartered China.

"A number of Chinese SMEs with strong technological innovation and international competitiveness are seizing the moment to expand overseas and pursue diversified market development.

"Global One is a tailored financial service Standard Chartered has developed in this context to help SMEs address key challenges such as cross-border settlement bottlenecks, limited financing channels, heightened exchange rate risks and insufficient overseas support resources," Li added.

Bill Winters, group chief executive of Standard Chartered, said that, amid a still complex and uncertain global trade outlook, China's sustained opening-up and stable economic growth are bolstering confidence for international investment and global collaboration.

"Notably, the annually hosted CIIE has provided a key platform for trade exchange," Winters said.

"Standard Chartered regards China as one of its most pivotal strategic markets, and we will continue to bring global opportunities to China and help Chinese companies expand globally."

Jean Lu, CEO and executive vice-chairperson of Standard Chartered China, said: "The newly released recommendations for formulating China's 15th Five-Year Plan (2026-30) clearly demonstrates China's commitment to boosting consumption and building the world's largest consumer market.

"This trend underscores the unique value of the CIIE: it serves as a vital platform for deepening mutually beneficial global economic cooperation and expanding international partnerships."

With a presence in the Chinese market that dates back more than 167 years, Standard Chartered will continue leveraging the CIIE platform to help Chinese and international enterprises seize the significant opportunities arising from China's high-level opening-up, said Lu.

Since its first participation in the CIIE in 2018, Standard Chartered has benefited from the development opportunities brought by the event and witnessed the deep integration of Chinese industries into global industrial chains.

Through the expo, the bank has established strategic partnerships with almost 40 enterprises, institutions and industry associations, expanding its cooperation from commodity trading to areas such as sustainable finance, technological innovation and international capital market collaboration.