Hangzhou’s foreign trade maintains growth for 7 months
A worker polishes steel rims of bicycles to be exported overseas in a factory in Hangzhou. [Photo/IC]
The imports and exports of Hangzhou, the capital city of Zhejiang province, has maintained growth for seven months in a row, statistics from Qianjiang Customs show.
The foreign trade in the city totaled 405.37 billion yuan ($65.57 billion) in the Jan-July period with a year-on-year increase of 26 percent and a trade surplus of 97.19 billion yuan.
In July alone, Hangzhou‘s imports and exports reached 59.93 billion yuan, a year-on-year increase of 3.7 percent, including 37.79 billion yuan worth of exports.
The three largest trade partners of the city in July was the European Union, the Association of Southeast Asian Nations, and the United States, with respective trade values of 10.17 billion yuan, 9.23 billion yuan and 7.9 billion yuan.
In July, Hangzhou’s exports to the United Kingdom, South Korea, and India experienced relatively fast growth with year-on-year increases of 26.3 percent, 23.6 percent and 13.5 percent respectively. Its trade with the countries involved in the Belt and Road Initiative stood at 19.28 billion yuan.
The exports of hi-tech products by Hangzhou jumped 20.9 percent year-on-year to 6.3 billion yuan and the city’s exports of mechanical and electrical products climbed 13.2 percent to 16.88 billion yuan in July.
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