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Zhejiang records robust export growth in August

ezhejiang.gov.cn| Updated: September 17, 2019 L M S

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A cargo vessel berths at a dock at Ningbo-Zhoushan Port in Zhejiang province, which is the world's largest port by cargo volumes [Photo/IC] 

Zhejiang province maintained a sound performance in monthly exports in August, according to Hangzhou Customs.

Statistics show that the province's exports last month totaled 204.26 billion yuan ($28.82 billion), up 3.4 percent year-on-year, higher than the average national level during the period. Exports and imports totaled 269.03 billion yuan, up 2.4 percent year-on-year.

The province's exports accounted for 13.8 percent of the nation's total, a higher level than any of the previous seven months. 

Officials say the growth is inseparable from the province's vigorous efforts to diversify its markets. 

According to statistics, Zhejiang's exports to the ASEAN, Africa and Japan increased by 21.5 percent, 17.6 percent and 9.5 percent, respectively, in August. Exports to countries and regions involved in the Belt and Road Initiative went up by 10.6 percent.

The growth also reflects the success of Zhejiang's supply-side structural reforms, said Zhang Shuming, director of the provincial department of commerce.

The province's exports of high-tech products and ships saw faster growth, at 9.4 percent and 94.2 percent, respectively, statistics show.

Exports by means of market procurement became a new driver of the province's export growth, officials said. The province exported 24.8 billion yuan of goods by market procurement last month, a year-on-year increase of 28.5 percent and contributing 2.8 percentage points to its total export growth in the month. 

Despite the growth, Zhang said Zhejiang still faces considerable downward pressure, as evidenced by a slight drop in its exports growth to the European Union last month. Zhang said he believes that the reason may lie in the uncertainties brought by Sino-US trade friction and the general background of the global economic downturn.