Chinese SMEs see steady expansion in export in Jan-Aug

Chinese small and medium-sized enterprises (SMEs) reported steady export growth from January to August, fueled by the ongoing global trade recovery and various strategies employed to expand into international markets.

China's SMEs registered stable economic operation in the first eight months of this year, with their value added growing 7.1 percent year on year, according to the data released by the Ministry of Industry and Information Technology on Friday.

Regarding foreign trade, SMEs are actively leveraging cross-border e-commerce, trade agents, and other methods to reach a broader global customer base.

Shenzhen Jinsheng Electronic Technology Co., Ltd., a company specializing in solid-state drives, has experienced over a 30 percent year-on-year increase in export orders in the first eight months of 2024. The company's production lines are now operating at full capacity, with orders already booked through the end of the year.

To further expand production capacity, the company is independently developing automation equipment while also utilizing cross-border e-commerce and other strategies to enhance their presence in overseas markets.

"We mainly use some cross-border e-commerce platforms for our online sales. Our sales volume on Amazon has increased from 50,000 to 100,000 U.S. dollars per month, and we've now reached 900,000 U.S. dollars. Besides, our overseas sales team makes regular visits to different countries each month to meet and engage with customers face-to-face," said Zhao Xu, deputy general manager of the company.

Leqi Intelligent Technology Co., Ltd., another Shenzhen-based high-tech company focusing on image device, saw its export volume and value both rise by over 30 percent in the first eight months. In addition to traditional markets in Europe and the United States, the company is also expanding into Southeast Asia.

"To prepare for the busy season in the second half of the year, we have particularly increased our stock of products available for export and sped up the launch of new products. We're also applying for AEO (Authorized Economic Operator) status to improve our customs clearance efficiency," said Pan Zhiqiang, CTO of the image device company.

Official data shows that the foreign trade market for Chinese SMEs is growing steadily, along with increasing global buyer trust and product appeal.

Chinese SMEs see steady expansion in export in Jan-Aug

U.S. firms and consumers shouldered nearly 90 percent of the economic burden from last year's sweeping tariff hikes, contradicting the Trump administration's argument that the levies are paid by foreign trading partners, according to a report issued by the Federal Reserve Bank of New York on Thursday.

The study reveals that as average U.S. import tariffs surged from 2.6 percent to 13 percent in 2025, foreign exporters largely declined to absorb the added costs by lowering their prices.

Instead, the economic impact fell predominantly on domestic entities: during the first eight months of the year, 94 percent of the tariff incidence was borne by U.S. importers and consumers. That share remained elevated at 92 percent in September and October, dipping only slightly to 86 percent in November.

The findings align with a separate analysis published this week by the U.S. Congressional Budget Office, which estimated that about 70 percent of tariff costs were ultimately transferred to American consumers through higher retail prices on imported goods.

US firms, consumers absorb nearly 90 pct of tariff costs in 2025: bank report