Tradeshift lets all registered parties trade via a cloud system. Because of this, Tradeshift, the leader in supply chain payments and marketplaces, is another Fintech growing strong in the country.īy using Tradeshift, exporters can access the Chinese market on a familiar platform and connect with buyers and suppliers via the platform's audited and regulated network. Given China's status as the world's largest trading nation and its cruciality to many supply chains, businesses are interested in any solution that makes it easier to trade with counterparties in the country. Send your goods to China, if your invoices have long payment terms, we can dive in and help manage your cashflow.' 'Things like the language barrier, access to information, and doing due diligence on partners, makes it hard. 'Exporters see China as a daunting market,' explains Flyger. The service means Western exporters can access a familiar service, which has Chinese-language speaking support, with experience in supporting UK companies exporting to China.

'In addition, we can use contacts such as the Department for International Trade, to assess the reputation of Chinese buyers.' 'We use a number of third-party services to credit check,' says Craig Flyger of MarketInvoice. It offers these services to UK SMEs owed money by Chinese buyers, which is not an easy market to include.

Fortunately, a cohort of Fintechs operating across these areas is making it easier to manage these risks.įor example, MarketInvoice is a specialist in lending and contract-secured finance known as invoice finance. Late payments and non-payments are a big risk for all companies operating in China. Most notably, it's hard for Western companies to often know exactly who they are doing business with and their creditworthiness. This creates numerous risks for businesses to manage. China remains an unfamiliar territory for many Western companies.

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