Wuxi at night. [Photo provided to wuxi.gov.cn]
The foreign trade of Wuxi in East China's Jiangsu province achieved a steady growth of 7.1 percent in the first half of this year, surpassing the provincial average growth rate by 1.9 percentage points, the latest data from Wuxi Customs showed.
The total value of the city's imports and exports reached 388.6 billion yuan ($54.18 billion), setting a new high for the same period. Exports alone amounted to 268.5 billion yuan, an increase of 13.5 percent.
Strong innovative momentum is driving the increasing international competitiveness of products made in Wuxi, with high-tech and high-value-added products gaining popularity overseas. Statistical data shows that exports of high-tech products in the city from January to June increased by 22.2 percent, accounting for 40.8 percent of total exports.
Against the backdrop of changes in the global trade landscape, a large number of foreign trade enterprises in Wuxi have expanded their presence in overseas markets, achieving impressive results.
Statistics shows that from January to June this year, Wuxi's top five trading partners, except for the United States, all experienced growth in imports and exports, with South Korea and ASEAN growing by 22.5 percent and 13.2 percent, respectively.
During the same period, Wuxi's trade with countries involved in the Belt and Road Initiative totaled 203.77 billion yuan, an increase of 9.9 percent and accounting for 52.4 percent of the city's total foreign trade, while trade other RCEP countries amounted to 177.54 billion yuan, an increase of 13.4 percent and accounting for 45.7 percent of the city's total.
