East China’s Jiangsu province registered a year-on-year increase of 0.9% in its import and export in the first five months of this year, statistics from the Nanjing Customs show.
The province’s import and export reached 1,696.42 billion yuan from January to May, accounting for 14% of China's total import and export during the period.
Exports reached 1.04 trillion yuan and imports stood at 647,6 billion yuan, further optimizing structure of foreign trade while maintain overall stability.
With the enhancement of independent innovation capability, the import and export of general value-added methods with higher added value increased by 4.1%, accounting for half of the total value of the provnce’s foreign trade.
In the meantime, foreign trade companies in Jiangsu have continued to explore diversified markets. From January to May this year, Jiangsu's import and export to countries along the “Belt and Road” increased by 9.44.8 billion yuan, an increase of 9.8% and 8.9% points higher than the overall growth rate of the province. It also accounted for nearly one quarter of the province's total foreign trade.
Changzhou Bell Flooring is one of the largest flooring manufacturers in China. In recent years, the company has shifted its focus from North America to Belt and Road countries by launching subsidiaries and setting up warehouses in Thailand, Turkey, Iran and Russia. Since the beginning of this year, its export to the Belt and Road countries has increased by 90% year-on-year.
Jiangsu has also promulgated the policy of “optimizing the port business environment to promote cross-border trade facilitation”, and reducing the burden on enterprises by cutting back on costs and optimizing customs clearance. Nanjing Customs has also formulated relevant management measures to actively respond to demands and solve problems in a timely manner. A series of pragmatic measures will promote Jiangsu’s foreign trade enterprises to edge forward on the road to the international market.
