East China’s Jiangsu province reported 3.14 trillion yuan of import and export in the first seven months of 2022, a year-on-year increase of 11.5%, according to data released by Nanjing Customs.
With the formal implementation of the Regional Comprehensive Economic Partnership Agreement this year, Jiangsu has increased its import and export of major trading partners with the help of RCEP, and forged closer trade ties with Belt and Road countries.
The province's import and export growth in the first seven months was 1.1 percentage points higher than the national overall level and 1.9 percentage points higher than the first half of the year, accounting for 13.3% of the country's total import and export value.
Jiangsu's imports and exports to the EU, ASEAN and South Korea reached 478 billion yuan, 459.87 billion yuan and 343.76 billion yuan, up 13.1%, 13.5% and 19.3% respectively.
Jiangsu's imports and exports to Belt and Road countries reached 822.35 billion yuan, an increase of 15.1%, accounting for 26.2% of the province's total import and export value.
Kunshan-based Chen Hsong Copper Group Co., Ltd. is rushing to produce a batch of stranded copper wires for export to Japan.
Benefited from the official implementation of RCEP, the company's exports from January to July exceeded US$17 million, a year-on-year increase of 20%.
From January to July, Kunshan Customs issued a total of 1,347 RCEP certificates with a value of US$108 million, benefiting 103 enterprises, involving kitchen supplies, plastic products, and hardware tools.
Jiangsu has also strengthened the assistance to foreign trade enterprises in terms of optimizing the transportation structure, providing targeted policy support, and supporting enterprises to explore the international market, further reducing the operating costs of enterprises.
The epidemic has hindered the transportation of raw materials and products of Jiangsu Jie Oukang Technology Co., Ltd. in Donghai County.
The local business department has provided timely assistance to ensure the enterprise’s normal operation, production and sales.
In the first seven months, the import and export of private enterprises in the province reached 1.23 trillion yuan, an increase of 17.3%, accounting for 39.1% of the total foreign trade value of Jiangsu.
Thanks to the adjustment of the global energy structure and the transformation and upgrading of Jiangsu's manufacturing industry, Jiangsu's exports of integrated circuits and solar cells reached 152.92 billion yuan and 60.8 billion yuan, and the structure of export products continued to be optimized.
