China's small and medium-sized enterprises lead the global average in their use of e-commerce and digital channels to grow exports, according to a global research study released in Shanghai yesterday.
In China, 97 percent of SME exporters already tap e-commerce to sell their products overseas, compared with the 80 percent global average, the Harris Interactive study said. These Chinese companies also generate profits through purchases made using mobile devices and social media platforms, two of the newest forms of e-commerce, the study said.
The wide use of e-commerce is helping Chinese SMEs weather the storm amid sluggish global growth, said Eddy Chan, head of FedEx China, who commissioned the study.
Exporting remains a steady source of income for Chinese SMEs, which derive 59 percent of their revenue from exports. The top-three export markets for Chinese SMEs are India, Pakistan and Japan, the study said.
"SME exporters in China actively embrace new technology and the digital channels to help them overcome a wide range of business challenges, from higher production costs to increasing competition," Chan said.
Completed in September 2016, the study results are based on interviews with 9,000 senior executives of SMEs from 17 markets worldwide. About 500 Chinese senior executives were interviewed for the study.