The products that make up your morning routine—toothbrush, favourite shirt, coffee mug and iPhone—are yours because of successful supply chains between the exporting manufacturers who made them and the importers who brought them onto store shelves.
Currently China leads the world in exports having overtaken Japan and Germany, and according to HM Revenue and Customs is third in line in providing the UK’s imported goods, led only by the US and Germany, respectively.
Recent economic conditions in China have made it difficult on exporters.
Tightening bank lending as a result of inflationary pressures, rising costs of production, interest rates and labour costs, coupled with Western post-recessionary pressures on bank lending, have squeezed abilities to maintain healthy working capital and liquidity positions.
Modern supply chain finance solutions are helping importers and exporters maintain positive trade flows and liquidity.
These programs allow for importers to purchase and receive goods on open account terms and credit lines, while exporters receive advanced payment upon shipment.
Both parties keep their supply chains flowing at the lowest costs possible with the ultimate benefit to the consumer.