Hangzhou has seen steady growth in foreign trade. In the first quarter, the import & export of Hangzhou reached 188.71 billion yuan, with a year-on-year increase of 5.7 percent. The export was 122.59 billion yuan, up 2.0 percent; the import was 66.12 billion yuan, rising 13.5 percent.

The private enterprise is the main force to drive Hangzhou's foreign trade. More than 90 percent of import & export enterprises are private enterprises.

The export of mechanical & electrical products and high-tech products increased significantly, and the furniture and auto parts were highly favored in overseas markets. There were strong import demands for industrial raw materials such as coal and rubber.

In addition, the trade conducted between Hangzhou and countries involved in the “Belt and Road Initiative” saw growth. The import & export in the first quarter was 84.03 billion yuan.