Hangzhou's foreign trade maintains stable growthin the complicated global situation. In the first half of the year, the total import & export value of Hangzhou is 416.49 billion yuan, with a year-on-year increase of 7.8 percent, ranking the eighth in China. The export growth rate exceeds the national and provincial levels.

Technology-driven achievements are remarkable. From January to June, the export of high-tech products in Hangzhou increases 10.4 percent, andmany products from Hangzhou enterprises are deeply favored in overseas markets by depending on innovation rather than price competition.

Market diversification continues to advance. In the first half of the year, Hangzhou achieves the growth in imports and exports with 165 countries and regions, adding five trade partners, such as Iraq, Kazakhstan, Guinea, Cote d’Ivoire, and Switzerland.

Moreover, the flourishing development of cross-border e-commerce and private economy in Hangzhou injects the impetus into the growth of foreign trade.