Amidst a complex and ever-changing global trade landscape, Taixing in Jiangsu province has been actively exploring emerging markets, forging a stable path for its enterprises to expand overseas.
In the first three quarters of this year, the city achieved foreign trade imports and exports worth $4.93 billion, marking a 7.5 percent year-on-year increase. Exports were valued at $2.9 billion, up 1.7 percent, while imports reached $2.03 billion, a 17.2 percent increase.
Taixing Meilan New Materials, a leading domestic producer of organic fluorine, relies on high-performance products and flexible market strategies to expand its presence in Belt and Road countries. Its exports surged by 65.7 percent to nearly $50 million in the first three quarters, with an anticipated annual total of $65 million.
Tank containers filled with refrigerant are loaded onto trucks at Meilan New Materials. [Photo/WeChat account: txfabu]
Facing sluggish demand in traditional markets, more local firms, like Taixing Jinjiang Chemical Industry, a major acetate ester producer worldwide, have shifted focus to Southeast Asia, the Middle East, and Latin America. Jinjiang Chemical's exports grew by 31 percent to $340 million from January to September compared with same period last year, with emerging markets accounting for over 50 percent of the share.
Taixing Jinjiang Chemical Industry. [Photo/WeChat account: txfabu]
Taixing's proactive implementation of stable foreign trade policies, coupled with participation in major exhibitions like the China Import and Expo Fair, commonly known as the Canton Fair, has facilitated market stabilization and expansion. A planned global cross-border e-commerce innovation service center will further boost international market reach for Taixing-made products.