The 139th China Import and Export Fair (hereinafter referred to as the Canton Fair) opened in Guangzhou yesterday. More than 30,000 companies participated in the exhibition, of which more than 70% were buyers from countries jointly building the “Belt and Road”, reflecting the increasing diversification of China’s export market.
As China’s foreign trade continues to grow, the field of B2B cross-border payments is facing multiple challenges when companies go overseas: difficulty in settling foreign exchange for foreign legal persons in China, high costs of small currency collection and payment in emerging markets, exchange rate fluctuations continue to erode corporate profits… These pain points have become key bottlenecks restricting the globalization of foreign trade companies.
As a global payment and financial platform, Airwallex has appeared at the Canton Fair for three consecutive years.
At this exhibition, Konghui Cloud focused on displaying three innovative products for the above three major foreign trade scenarios – foreign exchange settlement for foreign legal persons, small currency collection and payment, and entrusted exchange, covering the entire link of collection, exchange, and payment. It creates a safe and reliable one-stop high-tech payment and financial service platform for global enterprises, helping Chinese foreign trade enterprises and foreign businessmen in China to participate in global trade development more efficiently and compliantly.
Han Chunlan, head of enterprise solutions and growth of Kongkonghui, said: “The core barrier of B2B cross-border payments lies in integrating the global compliance network, local clearing capabilities and automated exchange rate management into a single system. The three capabilities of foreign legal person settlement, small currency collection and payment, and entrusted exchange launched this time are based on the real business scenarios of foreign trade enterprises and provide localized and automated solutions covering the entire chain of collection, exchange, and payment.
We hope that foreign trade companies can realize the efficient flow of global funds through one platform when faced with payment rules in different markets.” Xiang Haifeng, co-founder of crystal cross-border e-commerce brand Crystalland, said that they have tried many platforms, but Kongyunhui’s products and services are the most reliable. Whether it is locking exchange rates, making appointments for cash withdrawals, or entrusting exchanges and making appointments, they can meet business needs stably and efficiently.
A merchant in Yiwu achieved an average monthly increase of 15% in receipts of small currencies such as UAE dirhams and Indonesian rupiahs through Kongkonghui’s small currency collection and payment products.
A factory in Laiyang collects and pays more than 500,000 Mexican pesos every month, saving 40% on handling fees.
B2B cross-border payment faces three major practical difficulties
In the traditional cross-border payment system, foreign trade companies have long been trapped in multiple dimensions of structural problems.
Foreign legal persons’ foreign exchange settlement in China is one of them.
For a long time, foreign legal persons or shareholders have generally faced three obstacles: difficulty in opening an account, difficulty in settling foreign exchange, and difficulty in compliance when conducting trade or service business in China.
On the one hand, the approval process for account opening and foreign exchange settlement by traditional financial institutions is relatively complicated for foreign legal entities, resulting in a long account opening cycle.
On the other hand, because the subject, documents or other information do not meet the requirements of the domestic exchange settlement template in China, it will also lead to the difficulty of timely settlement of cross-border income back to the country.
At the same time, multi-channel and multi-account operations often increase compliance risks and difficulty in capital chain management.
The collection and payment of small currencies in emerging markets is also difficult.
Entering 2026, China’s total foreign trade import and export volume has maintained growth for nine consecutive years. Customs statistics show that in 2025, foreign trade import and export volume will be 45.47 trillion yuan.
my country’s imports and exports to countries co-building the “Belt and Road” reached 23.6 trillion yuan, an increase of 6.3%, accounting for 51.9% of the total import and export value.
As Chinese foreign trade companies accelerate their deployment in emerging markets such as the Middle East, Latin America, Africa and Southeast Asia, the demand for local payment and foreign exchange settlement in “small currencies” is rising.
However, traditional channels often require the opening of local accounts at multiple institutions, which results in high operating and compliance costs. Exchange rate losses during the exchange process also directly erode corporate profits.
Facing the complex financial environment in emerging markets, Chinese export companies urgently need more flexible settlement tools.
The risks brought by exchange rate fluctuations cannot be ignored.
Currently, the global macroeconomic environment is complex and ever-changing, and the divergence of monetary policies among major economies has intensified the risk of exchange rate fluctuations, posing severe challenges to the capital management of foreign trade companies.
Against this background, enterprises generally face various problems caused by exchange rate losses, slow arrival and withdrawal, and non-compliance of capital channels during the process of fund collection and payment.
The fund collection and payment link has become an important factor restricting the development of import and export enterprises. Many export enterprises report that “exchange is settled as soon as it arrives in the account”, and exchange losses directly eat up profits.
Financial personnel need to frequently monitor the market and place orders repeatedly, but it is still difficult to avoid risks.
Three major solutions to solve the problem
In response to the above difficulties, Kongkong Yunhui launched three innovative products at this Canton Fair to provide foreign trade companies with localization and automation solutions covering the entire link of collection, exchange and payment.
In response to the problem of foreign exchange settlement by foreign legal persons, Kongkong Huihui launched a new function for foreign exchange settlement by foreign legal persons.
This function connects domestic and overseas banking systems through compliance, supporting qualified entities such as foreign corporate legal persons and shareholders doing business in China to conveniently settle compliant overseas trade income to designated domestic accounts.
Legal persons from countries and regions including Hong Kong, Singapore, the United States and other countries can register and open accounts.
After foreign legal entities collect payment through Kongkonghui global account, they can initiate foreign exchange settlement instructions online, supporting T+0 and T+1 delivery. The entire process can be tracked and the status is clear and checkable.
This foreign exchange settlement method does not occupy the US$50,000 exchange quota, and supports general trade tax refund declarations.
Tests by foreign entrepreneurs in China have found that it only takes 3 steps to complete from registration to settlement.
To deal with the problems of high collection and payment costs and slow arrival of small currencies, Sky Cloud Hui has upgraded the collection and payment capabilities of small currencies.
More than 13 types of small currencies have been added for receipt and payment, and gradually expanded to cover multiple local currencies in the Middle East, Central Europe, Latin America, Southeast Asia and other regions, helping Chinese exporters and local buyers to conclude transactions with “local currency thinking” and then flexibly convert them into RMB.
The service currently covers local accounts in more than 70 countries and regions, covering local collections in more than 20 currencies. Entities in more than 40 countries and regions can open accounts for 0 yuan, and can be activated as soon as the same day.
The product also supports local bank transfer, e-wallet, Pay by Link and other payment methods.
At the same time, enterprises do not need to open accounts in multiple institutions. They can centrally manage multi-currency accounts and wallets on the Sky Cloud Hui platform, clearly view the fund positions and foreign exchange settlement details of each currency, and greatly simplify financial reconciliation and fund scheduling.
In response to the problem of exchange rate fluctuations eroding profits, Konghui Cloud launched entrusted exchange services.
This service provides enterprises with automated and refined exchange rate risk management tools through a self-developed AI exchange engine.
Enterprises can pre-set the target exchange rate, amount and validity period on the platform. When the market exchange rate reaches the preset price range, the system will automatically complete the transaction, eliminating the need for financial personnel to frequently check the exchange rate and place repeated orders.
This service is suitable for high-amount and high-frequency scenarios such as large-amount foreign exchange settlement, batched foreign exchange settlement, and centralized foreign exchange payment.
Entrusted exchange can lock in future exchange rates and order profits up to 90 days in advance, and no deposit is required.
This transforms exchange rate risk from a “passive response” to a cost that can be planned in advance and quantified.
Combined with the multi-currency wallet capabilities of SkyCloud, this function supports multi-currency entrusted exchange including U.S. dollars, euros, Hong Kong dollars, and small currencies in emerging markets such as United Arab Emirates dirhams, Mexican pesos, Brazilian reals, Polish zlotys, and Czech crowns, covering capital flows in core export markets such as the Middle East, Latin America, Eastern Europe, and Southeast Asia.
This entrusted exchange function charges a clear service fee on the basis of the inter-bank exchange rate. The rate structure is clearly visible. All entrustment instructions and transaction records are left in the system. In conjunction with the compliance and risk control system of Sky Cloud Exchange, it helps enterprises conduct refined exchange rate management under the premise of compliance.
As the first batch of licensed foreign-funded institutions in mainland China, Kongkonghui provides foreign trade companies with one-stop full-scenario services of “receipt, payment, exchange and management”.
Currently, Kongkong Yunhui holds 87 licenses and permits around the world, supporting companies to conduct business in more than 200 countries and regions and achieve large-scale multi-currency settlement.
Relying on Kongkonghui’s deep penetration in the global market, the receipt, payment, clearing and foreign exchange settlement of cross-border funds for foreign trade companies can all operate under a regulated and auditable framework, thereby helping companies reduce compliance and regulatory uncertainty.
As an important window for the docking of China’s foreign trade policy implementation and market demand, this Canton Fair arrives as scheduled in the first year of the “15th Five-Year Plan”, providing a predictable institutional environment and cooperation platform for global trade participants.
From foreign exchange settlement by foreign legal persons to small-currency receipt and payment, and entrusted exchange, the three innovative products launched by Konghui in this upgrade are the direct response of financial technology to policy facilitation and market pain points.
The collaboration of technology and system is providing practical financial solutions to more foreign trade entities, allowing compliant and convenient financial services to reach more foreign trade companies.
