A bird's-eye view of Wuxi. [Photo/WeChat account: news-wuxixinwen]
Foreign trade figures for Wuxi in Jiangsu province made a record increase of 9.4 percent over 2023 in the first half of this year, reaching 362.68 billion yuan ($50.02 billion), statistics from Wuxi Customs showed.
The rate of increase was 0.9 percentage points higher than the provincial average.
The city's export expanded by 8.5 percent year-on-year to 236.48 billion yuan during the same period, while its imports jumped 11.1 percent year-on-year to 126.2 billion yuan.
GE Medical Systems (China) in Wuxi. [Photo/WeChat account: news-wuxixinwen]
GE Medical Systems (China) in the city is GE Group's only base in China with a full production line for ultrasonic products. General manager Feng Jian noted that in the first six months of this year, the company's export value experienced double-digit increase, attributing the jump in large part to the increase in high- and middle-end product lines in Wuxi.
Relying on Wuxi's edges in manufacturing industry, its smooth international logistics, and efficient customs clearance, mechanical and electrical products are becoming a new driver of the city's foreign trade.
A port in Wuxi. Photo/WeChat account: news-wuxixinwen]
Statistics show that in the Jan-June period, exports of mechanical and electrical products were valued at 164.55 billion yuan, accounting for nearly 70 percent of total value.
Foreign trade partners also contribute to the stable increase of the city's imports and exports. In the first six months of this year, ASEAN became the largest trade partner of Wuxi, with their imports and exports increasing 17.9 percent year-on-year. South Korea was the city's second-largest trade partner. During the same period, Wuxi's trade with the countries involved in the Belt and Road Initiative climbed 11.8 percent from the previous year.
In addition, private businesses in Wuxi showed strong development momentum, boasting increase at a rate of 13.3 percent year-on-year.
