East China’s Jiangsu province reported steady imports and exports growth in the first seven months of the year, the Nanjing Customs said on Wednesday.
Statistics from the Nanjing Customs show that from January to July, Jiangsu's imports and exports totaled 2.46 trillion yuan, a year-on-year increase of 2.4%, accounting for 14.1% of China's total imports and exports during the same period.
Jiangsu reported 1.54 trillion yuan and 916.85 billion yuan of export and import during the seven-month period. On the basis of overall stability, the structure of foreign trade has been continuously optimized, and the import and export of general trade with higher added value has increased by 6.3%, accounting for 51.5% of the total value of Jiangsu's imports and exports.
In response to the changing trade situation, Jiangsu is constantly exploring diversified markets. In addition to the steady increase in the import and export with traditional trading partners such as the EU, ASEAN and Japan, from January to July, Jiangsu's total import and export with the Belt and Road countries increased by 600 billion yuan, up 11.8%, higher than the overall growth rate of the province’s entire growth by 9.4% and contributing 24.4% to the total value of Jiangsu's foreign trade.
He Yu, deputy director of the development research center, Jiangsu Academy of Social Sciences
Jiangsu enjoys obvious advantages in real economy and manufacturing industries, which are appropriately matched with the needs of urbanization, industrialization and rapid development of countries along the Belt and Road.
At the same time, the private enterprises maintained a rapid growth in the import and export volumes, with the import reaching 757 billion yuan, an increase of 10.6% year on year, accounting for 30.7% of the total value.
The foreign-funded enterprises reported a combine import and export volume of 1.47 trillion yuan, maintaining the same level as that of last year.
He Yu, deputy director of the development research center, Jiangsu Academy of Social Sciences
At the beginning of the year, the provincial party committee and the provincial government issued 30 policies for high-quality developments to promote the private economy, which has solved the current difficulties of the private economy. Jiangsu's private economy is also undergoing constant transformation and upgrading by improving the quality of products and optimizing the structure of products so as to meet the needs of the international market.
(source:ourjiangsu.com)
