According to the General Administration of Customs of the People's Republic of China, Hangzhou's total import and export volume in 2023 exceeded that of Chongqing, Chengdu, and Tianjin, is among top ten cities of China and ranks first in growth rate of 6.1%.
In the face of challenges like weak external demands and price reduction, why did Hangzhou grow against the trend?
From January to November, the total import and export volume of goods in Hangzhou was 732.3 billion yuan, with a year-on-year increase of 4.7%. Thereinto, the export volume was 486.8 billion yuan, up 2.3%. The exports to the USA, Southeast Asia, Russia, Africa, and other countries involved in the China's Belt and Road Initiative saw growth as well. Compared with previous years, emerging products, including lithium batteries, photovoltaic products, and electric vehicles, became highlights in growth, with exports increasing by 75.2%.
Besides, cross-border e-commerce is still a driving force of export trade. From January to November, the total import and export volume of cross-border e-commerce in Hangzhou was above 1.2 trillion yuan, with a year-on-year growth of 20.55%; the export volume was above 1 trillion yuan, rising 25.75% compared with a year earlier. Hangzhou gathered more than two thirds of the cross-border e-commerce entities in China, including MAERSK as the global logistics giant and one of global top 500 enterprises.