• Global corporates are not only looking at tariffs; emerging technologies and global economic growth are equally important key drivers of global trade
• Rising costs drive supply chain realignment, treasury management improvements, and digitalisation
• Mainland China is poised to play an even greater role in global supply chains in the next three to five years
• More than half of corporates in Africa surveyed are looking to increase trade with China
• At home, the Mainland China industry is moving up the global value chain, enabled by technologies such as AI, robotics and renewable energy

23 September 2025, Shanghai – Standard Chartered’s latest report reveals that Mainland China is one of the markets of choice for global corporates to realign their supply chains geographically. Also, the Mainland China industry is moving up the global value chain – transitioning from labour-intensive manufacturing to higher value-added production.

The Future of Trade: Resilience report was published today and presents findings from 1,200 C-suite and senior leaders at global corporates based in 17 key markets, who were surveyed on their outlook for global trade and their corporate strategies over the next three to five years.

Key drivers of global trade. While trade tariffs are top of mind, emerging technologies and global economic growth are equally critical factors, with 53% of corporates respectively ranking those as the top strategic drivers shaping the future of global trade.

Rising costs drive strategic adaption. Recent macroeconomic and geopolitical developments are significantly impacting costs, with more than six in 10 corporates estimating costs to increase by 5% to 14%. In response, more than half are planning a multi-pronged approach: realigning their supply chains geographically, adjusting treasury management strategies, and increasing digitalisation efforts.

Sunil Kaushal, Global Co-head, Corporate & Investment Banking and CEO, ASEAN and South Asia, Standard Chartered, said: “We are seeing strong demand from clients to evolve their global trade and supply chain ecosystems and accelerate the adoption of smart manufacturing and AI to drive efficiencies and offset rising costs. Although trade fragmentation is likely to hinder global growth in the short term, rising prosperity in developing economies and emerging technology means that the picture, while complex, is still compelling.

Mainland China is one of the markets of choice for global corporates to realign their supply chains geographically. Among corporates in Africa – Kenya and Nigeria specifically – more than half are looking to increase trade with China; around half of corporates from India indicate they’re looking to rely more on Mainland China for trade; around 40 per cent of respondents from the US and the UK are looking to broadly maintain their level of trading activities with Mainland China.

At home, the Mainland China industry is moving up the global value chain – transitioning from labour-intensive manufacturing to higher value-added production – enabled by technologies such as AI, robotics and renewable energy, alongside efforts to boost domestic consumption.

Louise Zhang, Head of Transaction Banking, Standard Chartered Bank (China) Limited, said: “As global supply chains are being reshaped, Chinese corporates are playing a greater role as innovators and enablers. Their financial needs are evolving too, with increasing demand for flexible cross-border liquidity, local settlement, efficient multi-currency cash management, and global visibility with compliance. Standard Chartered is closely attuned to these priorities. As a ‘super-connector’, we are committed to working with corporates to build supply chain ecosystems that are more localised, regionalised, and digitalised, supported by innovative cross-border financial solutions.”

At the third China International Supply Chain Expo (CISCE) in July, Standard Chartered launched SC Glocal-link, the Bank’s comprehensive supply chain and trade finance solutions. It serves both Chinese companies “going global” and those “born global”, tackling key challenges in settlement, financing, liquidity management, and risk mitigation. Covering multiple countries, currencies, and business scenarios, SCB Glocal-link helps corporates build supply chains that are more secure, agile, and resilient.

Supply chain finance platforms adoption accelerates. Nearly 40% of surveyed corporates have already adopted supply chain platforms – with more than half planning implementation to optimise cash flow in the near term. Corporates highlighted the importance of banking partners that can connect them with vendors and enable supply chain shifts across borders through their extensive network.

—ENDS—

For further information please contact:

Vivian Lu

Standard Chartered

+86 18500680807

Wen.LU@sc.com

Standard Chartered

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Standard Chartered is one of the oldest international banks in China, with our first branch in Shanghai set up in 1858 and continuous operations thereafter. We were among the first batch of international banks locally incorporated in China in April 2007.  We have outlets across nearly 30 coastal and in-land cities in China, a testimony of our long-term commitment to China.

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