East China's Jiangsu province recorded a year-on-year increase of 5.4% in imports and exports in October, showcasing the resilience and vitality of the province's foreign trade, adding confidence and contributing momentum to stabilizing the national foreign trade market.
Sun Rain Group, a leading enterprise in the photothermal industry in Lianyungang City, has recently worked overtime to step up its production.
Since the beginning of this year, Sun Rain Group has seized the development trend of global renewable energy, increased technological innovation and product upgrading, and independently developed a series of clean energy products such as air heating machines, so that it has gained the trust of overseas customers with its products becoming a sharp tool to open up the international market, promoting a rapid growth of 50% in exports.
"From January to July, we recorded export of 300 million yuan and is expected to reach around 500 million yuan for the entire year. We expect to continue to maintain a high growth rate of over 50% next year," said Jiao Qingtai, Vice President of Sun Rain Group Co., Ltd. and President of Clean Energy Research Institute.
Since the beginning of this year, facing the impact of the global economic downturn and continuously shrinking demand, Jiangsu-based enterprises have continuously strengthened their innovation drive, optimized their product structure, and improved the competitiveness of export products while expanding their leading advantages in the field of new energy in particular.
Statistics show that from January to October, Jiangsu recorded an export of 168.28 billion yuan for electric passenger vehicles, lithium batteries, and solar cells, up 16.2% year on year, strongly supporting the recovery of foreign trade.
Foreign trade enterprises in Jiangsu have actively expanded their sales channels, promoted cross-border e-commerce, and promoted product exports. Changzhou Lingyue Equipment Technology Co., Ltd. will soon transport car collision parts to its overseas warehouses in the United States.
Since making inroads into the cross-border e-commerce business in 2015, the company has transitioned from a traditional factory to a cross-border e-commerce platform that integrates industry and trade. More than 90% of its orders now come from cross-border e-commerce platforms, with an expected revenue of over 200 million US dollars for the entire year 2023.
"Through cross-border e-commerce, we can meet the demand of the first-hand market to combine with the manufacturing capacity of the industrial belt and warehouse layout so that we can combine these products with the demand side and quickly deliver them to consumers," said Liu Bin, Founder of Changzhou Lingyue Equipment Technology Co., Ltd.
Statistics show that in October, Jiangsu recorded an import and export of 458.78 billion yuan, a year-on-year increase of 5.4% and 4.5 percentage points higher than the national average.
Private enterprises in Jiangsu recorded a 5.9% increase in import and export, up 4.7 percentage points from the same period last year to 44.3%. The province's imports and exports with ASEAN, the European Union, the United States, South Korea, and Japan accounted for 60.7% of the total volume during the same period. Jiangsu also recorded an 18% and 6.4% increase in imports and exports to the Middle East and Africa.
