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Huzhou sees closer trade links with BRI countries

chinadaily.com.cn | Updated: Oct 19, 2023

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Huzhou Customs officials inspect a workshop in Huzhou, East China's Zhejiang province. [Photo/hz66.com]

Huzhou in East China's Zhejiang province experienced a significant increase in trade with countries involved in the Belt and Road Initiative in the first three quarters of this year.

During the nine-month period, Huzhou's imports and exports with participating countries reached a total of 64.05 billion yuan ($8.75 billion), making up 50.3 percent of the city's overall foreign trade.

Over the past decade, Huzhou-based enterprises have expanded their market share overseas by seizing the opportunities presented by the initiative.

Huzhou is renowned as a birthplace of silk culture and is recognized as a global hub for silk production. Textile products from Huzhou have gained widespread demand from customers overseas, establishing a strong reputation among BRI countries.

Statistics reveal that from 2013 to present, Huzhou's total import and export value with BRI countries has reached 424.06 billion yuan. Of this, exports amounted to 387.86 billion yuan, while imports accounted for 36.21 billion yuan. Huzhou's import and export trade with these countries has consistently grown at an average annual rate of 13.5 percent over the past decade.