The total import and export value of Jinhua in Zhejiang province reached 263.52 billion yuan ($38.66 billion) in the first quarter, up 21.5 percent year-on-year, according to Jinhua Customs.
Exports totaled 225.7 billion yuan, an increase of 17.5 percent, while imports rose to 37.82 billion yuan, up 52.8 percent.
Market diversification delivered impressive results. In the first quarter, Jinhua's exports to its top three markets — Africa, Latin America, and the European Union — totaled 39.95 billion yuan, 31.44 billion yuan, and 30.48 billion yuan, respectively, representing growth of 43.1 percent, 4.3 percent, and 22.7 percent, respectively. Exports to countries involved in the Belt and Road Initiative grew 25.2 percent, raising their share to 65.9 percent.
The trade structure continues to improve, with exports of mechanical and electrical products reaching 94.88 billion yuan, accounting for 42.0 percent of total exports. The "new trio" products — electric vehicles, lithium-ion batteries, and photovoltaic products — recorded a 33.5 percent increase, including a 169.3 percent surge in lithium-ion battery exports.
On the import side, imports of unwrought copper and copper materials hit 12.75 billion yuan, up 59 percent. Imports of agricultural products and mechanical goods grew by 31.4 percent and 78 percent, respectively, while high-tech product imports increased by 46.4 percent.
