Exports from Huzhou's Wuxing district are valued at 2.09 billion yuan ($321.54 million) in the first two months of this year, an increase of 95.7 percent year-on-year. [Photo/hz66.com]

Wuxing district's foreign trade has gotten off to a good start this year as exports grew at a record pace from January to February.

The district's exports were valued at 2.09 billion yuan ($321.54 million) in the first two months, an increase of 95.7 percent year-on-year. This growth rate topped Huzhou over the two-month period and was the highest in the district's history.

Its exports accounted for 0.49 percent of the province's total, 0.11 percentage points higher than the same period last year.

Sustained efforts by local authorities to stabilize local foreign trade are the main reason for the robust growth.

A total of 13.47 million yuan in funds was allocated to local enterprises to help relieve financial pressure during this period.

Meanwhile, efforts have also been made to lower risk for exporters and expand business channels by strengthening cooperation with places like Hong Kong in exhibitions, transnational management, and trade in services. 

In addition, local authorities have been leveraging the district's status as a pilot zone for the national market procurement trade model.

Eligible enterprises are entitled to VAT exemptions and faster customs clearance services, as well as are allowed to directly collect and settle foreign transactions under the model.

Statistics show that a total of 2,545 declarations for orders exported under the market procurement trade model had been made in Wuxing as of March 19, with a combined value of more than 1.6 billion yuan.