A bird's-eye view of Wuxi. [Photo/WeChat account: news-wuxixinwen]
The foreign trade of Wuxi in East China's Jiangsu province has set a new historical record for three consecutive months, according to statistics from Wuxi Customs.
From January to May this year, the city's total import and export value reached 318.98 billion yuan ($44.43 billion), representing a year-on-year increase of 7.1 percent, which surpassed the provincial average growth rate by 1.8 percentage points.
Leading the way in the first five months of this year is the electronics industry, with imports and exports totaling 134.28 billion yuan, representing a 16.9 percent year-over-year increase. Among them, the integrated circuit industry experienced significant growth, increasing by 34.9 percent. The machinery, new energy, shipbuilding, wire and cable, and automobile industries demonstrated consistent expansion. Collectively, these industries contributed to an increase in the city's foreign trade growth by over 15 percentage points.
In the first five months of this year, Wuxi's trade with South Korea and ASEAN showed promising growth, reaching 56.9 billion yuan and 56.1 billion yuan respectively, with year-on-year increases of 20.7 percent and 13.3 percent; trade with countries involved in the Belt and Road Initiative and RCEP partners is becoming increasingly close, with imports and exports growing by 9.7 percent and 12.7 percent respectively.
In the Jan-May period, the city's processing trade import and export volume reached 116.84 billion yuan, representing a 14.7 percent increase, accounting for 36.6 percent of the city's total. The monthly growth rate in May reached 21.1 percent, with exports surging by 28 percent. Made in Wuxi products are deeply integrating into the global market through cross-border supply chains.
