Zhoushan's foreign trade reached 149.13 billion yuan ($20.54 billion) from January to May, marking a 9.4 percent year-on-year increase, according to official statistics.

Exports totaled 50.35 billion yuan, up 15.3 percent, while imports amounted to 98.78 billion yuan, rising by 6.6 percent.

In May alone, the city's imports and exports were valued at 34.46 billion yuan, an 11 percent year-on-year growth. Exports for the month reached 10.72 billion yuan, a significant 24.5 percent increase, while imports totaled 23.74 billion yuan, up 5.9 percent.

The booming shipbuilding and repair industry significantly contributed to this growth. Exports of non-engine marine parts and ships surged by 77.2 percent and 165.7 percent, respectively. During the same period, aquatic product exports reached 860 million yuan, up 54.6 percent, and bonded mixed iron ore exports totaled 310 million yuan.

Imports also demonstrated stable growth. In May, the value of crude oil imports increased by 11.9 percent due to rising prices. Iron ore imports reached 1.41 billion yuan, a remarkable 237.0 percent increase. Copper concentrate imports amounted to 590 million yuan, a staggering 28.8-fold increase.