China’s Smaller Exporters Eye RCEP Trade Pact Countries to Drive Demand

China’s smaller companies saw fast growing exports to members of the Regional Comprehensive Economic Partnership (RCEP) trade pact last year, and are eyeing greater growth this year even as demand from Europe and the U.S. is set to decline, a survey suggests.

Last year, small and midsized enterprises (SME) reported a 20.7% year-on-year rise in receipts from goods exports to RCEP members, according to a report jointly issued Wednesday by China Council for the Promotion of International Trade (CCPIT), a state-backed trade agency, and XTransfer Ltd., a fintech services provider.