Zhejiang's Ningbo-Zhoushan Port, the world's largest port for cargo turnover [Photo/IC]

The import and export of Zhejiang province totaled 2.24 trillion yuan ($321 billion) in the first three quarters, up 6.3 percent year-on-year, ranking the province the first in China for increment, Zhejiang authorities announced at the second China International Import Expo in Shanghai on Nov 7.

From January to September, Zhejiang exported 1.68 trillion yuan of goods, equating to a yearly increase of 7.5 percent, and 13.5 percent of the national total, while its import reached 560.1 billion yuan, and expanded by 2.8 percent.

It was announced that the cities Wenzhou, Ningbo and Jinhua made the most significant contributions to the province's exports, estimated at 21.8 percent, 28.6 percent and 17.6 percent, respectively.

Export of mechanical, electrical, and high-tech products experienced the exponential growth. The exports of semi-conductor devices, technological devices and ships also experienced marked success with a year-on-year increase of 48.5 percent, 26.9 percent and 12.7 percent, accounting for 8.9 percent share of the province's total exports during the same period.

Private enterprises demonstrated their mastery by taking the leading position in driving the province's export. According to statistics, Zhejiang's private businesses exported around 1.34 trillion yuan in the first nine months, an increase of 9.7 percent from a year earlier, accounting for 79.4 percent of the province's total.

Export activities to countries involved in the Belt and Road Initiative reached 573.28 billion yuan, and recorded a year-on-year growth of 12.8 percent, while exports to the Association of Southeast Asian Nations and Africa increased by 20.7 percent and 14.3 percent, respectively.

Zhejiang has ramped up efforts to attract investment in recent years. In the first three quarters, the province's paid-in foreign investment expanded by 18.7 percent, contributing to two thirds of the nation's foreign fund increment.

"Thanks to opening-up, Zhejiang has maintained stable foreign trade and boosted market confidence," said Sheng Qiuping, director of the province's department of commerce.