Jinhua in Zhejiang province has reported a significant increase in foreign trade for January and February, with imports and exports totaling 213.45 billion yuan ($30.97 billion), a 44.7 percent year-on-year rise.
Exports amounted to 190.34 billion yuan, up 44.3 percent, while imports were 23.11 billion yuan, growing by 47.6 percent. Jinhua led the province in growth rates for imports, exports, and overall trade, with its exports accounting for 4.1 percent of the national total.
The city's trade expansion was driven by strong growth in emerging markets: exports to Africa surged 83.4 percent to 34.72 billion yuan; exports to ASEAN increased 81.4 percent to 23.4 billion yuan; and exports to Belt and Road Initiative countries rose 55.7 percent to 128.41 billion yuan.
Jinhua's export product structure is evolving, with mechanical and electrical product exports rising 43.7 percent to 78.72 billion yuan, while labor-intensive product exports increased by 48.8 percent.
Imports also showed notable growth, particularly in agricultural products, which increased by 38.6 percent to 8.37 billion yuan, while mechanical and electrical product imports grew by 52.2 percent.
The number of enterprises with actual import and export performances in January and February reached 17,365, up 4,607 from the previous year, with private enterprises leading the way. Emerging business models, including market procurement and cross-border e-commerce, significantly boosted export growth.
