Hangzhou’s foreign trade surpasses the 800 billion yuan threshold, reaching an impressive 803 billion yuan in 2023, with a year-on-year increase of 6.1 percent, according to statistics from Hangzhou Bureau of Statistics. The export volume is 533.9 billion yuan, up 3.7 percent, accounting for 2.25 percent of the national market share while the import volume is 269.1 billion, up 11.3 percent.

Among exported products, three green & low-carbon ones including electric manned vehicles, lithium-ion batteries, and solar batteries became new driving forces for growth, with increase of 557.9 percent , 37.3 percent and 55.0 percent respectively.

The foreign trade market is expanding. Hangzhou enterprises have entered emerging markets in countries like Bulgaria, Latvia. The trade with countries involved in the China's Belt and Road Initiative was 350 billion yuan, with a growth of 7.8 percent.

Hangzhou’s brands have gained recognition in the international market. The export volume of self-owned brand goods reaches 139 billion yuan, increased by 4.2 percent. The private enterprises became the main force of foreign trade, covering 90.7 percent.