Growth Trend of Cross-border Collection for Chinese Enterprises (2018-2023)

Overview

Over the past 6 years (2018-2023), cross-border collection transaction volume for Chinese enterprises steadily expanded from approximately $120 billion in 2018 to about $250 billion in 2023, with a compound annual growth rate (CAGR) of ~16%. This growth is mainly attributed to the rapid rise of cross-border e-commerce, advancements in payment technology, and policy support.

Key Data

• 2018: ~$120B (driven by both cross-border e-commerce and traditional trade).
• 2019: ~$140B (16.7% growth, improved payment infrastructure).
• 2020: ~$160B (pandemic accelerated online transactions but disrupted supply chains).
• 2021: ~$190B (global economic recovery, cross-border e-commerce boom).
• 2022: ~$220B (sustained growth despite geopolitical tensions).
• 2023: ~$250B (slower growth at 13.6%, market maturing).

Drivers

• Cross-border e-commerce prosperity: China's cross-border e-commerce exports reached 1.83 trillion RMB in 2023, fueling collection demand.
• Digital payment adoption: Third-party platforms (e.g., PayPal, Airwallex, PingPong) reduce fees and improve efficiency.
• Policy tailwinds: The People's Bank of China and SAFE simplified cross-border settlement procedures to support new trade models.

Challenges & Outlook

Despite strong growth, challenges include exchange rate volatility, rising compliance costs, and intensified regional competition. Growth is expected to moderate to 10-12% from 2024-2025, but emerging markets (Southeast Asia, Latin America) offer potential.