A train loaded with medical equipment, including surgical face masks and protective gowns, departs from Yiwu, Zhejiang province, for Madrid, Spain, in June to help in the fight against COVID-19. [Photo/Lye Bin for China Daily] 

Despite the ongoing COVID-19 pandemic and the contraction of the global economy, Jinhua in East China's Zhejiang province still saw significant growth in its foreign trade in the first half of this year, with multiple indicators ranking first among all Zhejiang cities.

According to the Jinhua municipal commerce bureau, the city's exports in H1 stood at 205.87 billion yuan ($29.54 billion), up 11.3 percent year on year. This increased Zhejiang's export growth rate by two percentage points, more than any other city in the province.

A total of 8,729 Jinhua-based enterprises exported goods between January and June, up 914 from the previous year. To promote export-oriented goods in the domestic market as well, the city hosted 172 business events of various kinds, bringing in 4.05 billion yuan in total sales.

To relieve the financial burden on foreign trade companies, Jinhua authorities adopted 10 new policies to stabilize foreign trade, eight new policies to bolster cross-border e-commerce, and 11 favorable policies for foreign trade companies. A total of 640 million yuan went into the city's multiple policy supports in H1.

China Export & Credit Insurance Corporation offered a total of 29.1 billion yuan in insurance in H1, up 18.8 percent from the previous year. The number of insured companies stood at 2,433 (including 1,809 small and micro-sized businesses), up 33.2 percent year on year. In addition, the Bank of Ningbo and Bank of China granted a total of 1.24 billion yuan in concessional loans to Jinhua-based foreign trade companies in H1.