Abstract

The rapid growth of e-commerce in China has intensified financial management challenges for small and medium-sized enterprises (SMEs), requiring them to adapt their financial strategies to digitally mediated and highly competitive markets. While prior studies have examined financial digitalization in large firms, limited attention has been given to how e-commerce SMEs strategically adapt their financial management practices. This study aims to synthesize existing empirical evidence on financial strategy adaptation in Chinese e-commerce SMEs through a systematic literature review. Using a structured review protocol, this study analyzes peer-reviewed empirical studies focusing on financial management, digital finance, and e-commerce SMEs in China. The findings reveal that Chinese e-commerce SMEs adapt their financial strategies through five interconnected mechanisms: the adoption of real-time, digitally enabled financial systems; the transition from informal, guanxi-based practices to regulated digital platforms; the use of fintech-based financial products for liquidity and capital management; the alignment of financial strategies with innovation-oriented leadership; and responsiveness to institutional and market pressures. The study concludes that financial strategy adaptation among Chinese e-commerce SMEs represents a strategic transformation rather than a purely technological adjustment. These adaptations enhance financial agility, transparency, and resilience, contributing to SMEs’ competitiveness in China’s evolving digital economy.

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