In the first quarter of 2021, Taicang's foreign trade has extended its growth momentum with the city fully promoting efforts to coordinate the development of trade industries, local media outlets reported on May 8.

According to local customs authorities, the city's foreign trade grew 25.2 percent year-on-year to 25.48 billion yuan ($3.97 billion) in the period. Exports jumped 29.4 percent from a year earlier to 12.12 billion yuan while imports climbed 21.7 percent to 13.36 billion yuan.

During the first three months, Taicang's foreign trade with member countries of the Association of Southeast Asian Nations rose 25.5 percent to 6.97 billion. Its foreign trade with member countries of the European Union rose 31.9 percent to 5.73 billion yuan.

Exports and imports of private companies expanded by 48.9 percent to 8.48 trillion yuan, accounting for 33.3 percent of the city's total. Exports and imports of foreign-invested companies expanded by 16.1 percent to16.84 billion yuan, accounting for 66.1 percent of the total.

The bonded area of Taicang Port streamlined its clearance procedures and lowered transportation costs, handling exports and imports worth 2.9 billion yuan, up 31.2 percent year-on-year.

Cargo is loaded onto ships in Taicang port, Jiangsu province, in May. [Photo provided to chinadaily.com.cn]