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Hangzhou's foreign trade up by 3.1% in first three quarters of 2023
en.hangzhou.com.cn   2023-10-28 14:00   Source: www.ehangzhou.gov.cn

A bird's-eye view of Hangzhou, capital of East China's Zhejiang province. [Photo provided to ehangzhou.gov.cn]

Hangzhou's total foreign trade reached 559.15 billion yuan ($76.42 billion) in the first three quarters of this year, marking a 3.1 percent year-on-year, according to statistics from Qianjiang Customs.

Hangzhou's foreign trade now accounts for 15.1 percent of the province's total. Specifically, exports totaled 383.53 billion yuan, reflecting a growth of 1.9 percent and constituting 14.1 percent of the province's total. Meanwhile, imports amounted to 175.62 billion yuan, up 5.8 percent and accounting for 17.9 percent of the province's total.

The European Union, the United States, and the Association of Southeast Asian Nations maintained their positions as Hangzhou's top three trading partners. Over the same period, the import and export volume with Belt and Road Initiative partner countries and regions amounted to 183.86 billion yuan, marking an 11.2-percent increase, while exports and imports with African countries reached 29.26 billion yuan, marking a 20.7-percent increase.

Hangzhou's private enterprises played a significant role in foreign trade, with their imports and exports reaching 381.02 billion yuan, registering an 8.1-percent increase. The figures accounted for 68.1 percent of the total foreign trade value. The steady performance of private enterprises contributed to the city's overall export growth, with an increase of 6.6 percentage points.

In the face of risks and challenges, Hangzhou has continued to enhance policies aimed at stabilizing foreign trade.

This year, the city has made efforts to explore foreign markets. As of now, 473 delegations and 2,445 companies have participated in more than 300 overseas exhibitions, achieving over 65 billion yuan in intention transactions. In addition, at the recently-concluded 134th China Import and Export Fair, Hangzhou-based companies achieved transactions totaling over $550 million, surpassing previous editions of the fair.

Author:   Editor: Li Jiameng
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