Foreign trade is booming in Taixing city in Jiangsu province, which posted exports and imports worth a record $722 million in the month June, continuing the positive growth trend.
The record performance was attributed to the concerted and consistent efforts made by the city in developing its markets, organizing production, brand nurturing, policy implementation, as well as the transformation and upgrades of foreign trade enterprises.
Local manufacturer Runtai New Material Co Ltd specializes in the research and development, production and sales of eco-friendly coating additives, with 40 percent of its products exported.
Through increased efforts in developing foreign markets this year, the company further extended its presence overseas and it now exports its products to 109 countries and regions.
Products are put in storage at the plant run by Runtai New Material Co Ltd. [Photo/WeChat account: txfabu]
In the face of the challenging foreign trade situation, Taixing has actively implemented its "one enterprise, one policy" and "on-site assistance" mechanisms for its top 20 foreign trade enterprises, coordinating and solving difficulties for them in financing, logistics and market development.
Elsewhere, resident manufacturer Taizhou Union Chemical Industry Co Ltd has increased its imports of raw materials in a bid to meet market demand, with three plasticizer production lines operating at full capacity.
In the first six months, the company's imports and exports hit 1.08 billion yuan ($148.71 million), an increase of 31 percent year-on-year.
Overall, from January to June, Taixing's foreign trade imports and exports surged to $3.3 billion, up 22.2 percent on the previous corresponding period.
Of that, exports amounted to $2.16 billion and imports were worth $1.14 billion, respectively.