East China’s Jiangsu province maintained stable trade growth in the first four months of the year, according to latest statistics released Monday by the provincial department of commerce.
Statistics show that in the first four months of this year, the province's import and export reached 1.32 trillion yuan, a year-on-year increase of 0.6%, accounting for 14% of China's total import and export value during the same period.
Jiangsu has also witnessed the constantly optimized structure of foreign trade. The import and export of higher value-added general trade reached 663.55 billion yuan, accounting for half of the province's import and export and 0.9 percentage points higher than the same period of last year. This shows that the foreign trade enterprises in the province have improved quality and efficiency against external pressures.
Private enterprises have become the primary driving force behind the growth of import and export in the province. From January to April, the import and export of private enterprises in Jiangsu reached 390.33 billion yuan, an increase of 7% with the proportion increasing further.
In Zhangjiagang, Dongdu Textile Group carried out intelligent transformation of 16 production lines at the end of last year, which has not only increased production efficiency by 20%, but also attracted more foreign orders. Currently, 95% of its products are exported to the United States, Japan and other countries.
In the meantime, Jiangsu has made steady progress in the diversification of the foreign trade partnership.
The EU surpassed the United States to re-emerge as Jiangsu's largest trading partner seven years later.
Jiangsu has also vigorously promoted the market along the Belt and Road in a bid to increase the proportion of support projects of goods trade to 40%. In the first four months of this year, the province's imports and exports to the Belt and Road countries reached 318.78 billion yuan, an increase of 8.5% year on year.
