A worker counts Chinese currency renminbi at a bank in Linyi, East China's Shandong province. (Photo: Xinhua)

Lianlian Global, a company dedicated to creating a digital payment service network for global enterprises, institutions and individuals, has launched a package of services to reduce companies' cost in cross-border foreign trade.

The package, which includes billions of yuan of free cash withdrawals for cross-border collection and inviting cooperative financial institutions to provide financial credit limits of up to $10 million for a single business entity, is expected to benefits more than 1.2 million cross-border merchants, said Zhong Yi, general manager of marketing at Lianlian Global.

As the representative of cross-border e-commerce, B2B and B2C businesses have recorded exponential growth in the past decade, and developed into the "new normal" of export foreign trade. But due to the pandemic and global economic slowdown, most small and medium enterprises are facing growing difficulties with their cross-border businesses. For instance, most of cross-border merchants regard the fluctuating exchange rate as one of the major risks. Lianlian Global aims to provide relevant services to help those enterprises pull through.

So far, the company has reached more than 50 global mainstream e-commerce platforms and nearly 120 sites for cross-border funds collection, covering more than 100 countries and regions, and accumulatively serving more than 1.2 million cross border e-commerce merchants worldwide. LianLian Global ranks first among the third-party payment collection tools most frequently used by cross-border merchants in China.

Jin Siying contributed to this story