Zhangjiagang and Xinwu District of Jiangsu Province have been selected into the 29 national import trade promotion innovation demonstration zones nationwide, according to a list announced by the Ministry of Commerce and the National Development and Reform Commission and six other ministries.
Building a national import trade innovation promotion demonstration zone is an important part of China's initiative to expand imports and promote higher levels of opening up.
The newly established import demonstration zone will proceed from the reality of regional opening up, focus on optimizing the business environment, and play a leading role in promoting imports, serving industries, improving consumption and demonstration.
In addition to the Suzhou Industrial Park and Kunshan City, Jiangsu now has four national import trade promotion innovation demonstration zones, ranking first in the country.
Since this year, Jiangsu has overcome the pressure of complex and severe external environment and repeated impact of the COVID-19 epidemic, and its foreign trade has increased steadily, showing strong development resilience.
In the first three quarters, Jiangsu's import and export amounted to 4108.24 billion yuan, up 9.8% year on year. Imports reached 1498.55 billion yuan, up 4.9%, the best level in the same period in history.
In the third quarter, the import and export volume reached 1482.94 billion yuan, the highest in the history of a single quarter, up 15.4% and 10.6% respectively compared with the previous two quarters.
