Huzhou records highest growth in foreign trade in Zhejiang | Updated: Jun 16, 2021


Huzhou's imports and exports stand at 59.02 billion yuan ($9.08 billion) in the first five months of this year, up 55.2 percent year-on-year. [Photo/]

Huzhou's imports and exports amounted to 59.02 billion yuan ($9.08 billion) in the first five months of this year, up 55.2 percent year-on-year, according to Huzhou Customs.

The growth rate was the highest in East China's Zhejiang province over this period.

Specifically, the city's exports surged 61.2 percent to 54.33 billion yuan, while its imports stood at 4.69 billion yuan, up 8.4 percent year-on-year.

Notably, its foreign trade volume increased 50.8 percent year-on-year to 14.17 billion yuan in May. The growth rate was 21.9 percent higher than the provincial average, ranking third in Zhejiang.

The city's trade with its major trading partners, the European Union, the United States, Belt and Road countries and ASEAN, saw robust growth.

Its trade volume with the aforementioned four partners amounted to 13.27 billion yuan, 10.71 billion yuan, 16.28 billion yuan, and 6.7 billion yuan over the five-month period, up 103.4 percent, 31.9 percent, 63 percent, as well as 77.1 percent respectively.

In addition, Huzhou's trade with countries involved in the Belt and Road Initiative expanded 53.3 percent year-on-year to 23.16 billion yuan from January to May.

The period saw robust growth in exports, including labor-intensive products, mechanical and electrical products, as well as high-tech products.

The city exported 26.77 billion yuan worth of labor-intensive products from January to May, an increase of 43.1 percent year-on-year, while the figures for mechanical and electrical products and high-tech products stood at 14.94 billion yuan and 7.32 billion yuan, up 73.4 percent and 230.4 percent respectively.

In the first five months of the year, Huzhou's general trade volume was valued at 49.25 billion yuan, while its imports and exports under the market procurement model stood at 4.315 biillion yuan.

Private companies and foreign-funded companies made up the lion's share of the city's foreign trade. Their foreign trade value stood at 45.86 billion yuan and 12.88 billion yuan over the period, up 51 percent and 76.7 percent respectively.