Wuxi Port. [Photo/Wuxi Daily]
Exports from Wuxi in East China's Jiangsu province experienced a sharp uptick of 21.4 percent in the first three quarters of the year compared to the same period in 2021, statistics from Wuxi Customs show.
The figure was 8.4 percentage points higher than the provincial average, placing Wuxi first among cities in southern Jiangsu.
Among the city's exports, mechanical and electrical products were valued at 239.1 billion yuan ($33.01 billion), an increase of 21.1 percent year-on-year and accounting for 65.9 percent of total exports.
The city's imports and exports totaled 554.36 billion yuan during the same period, a year-on-year increase of 12.8 percent. The growth rate was 3 percentage points higher than the provincial average.
Jiangyin Port in Wuxi is busy at night. [Photo/Wuxi Daily]
The rapid growth of Wuxi's foreign trade can be mainly attributed to its broader "circle of international friends".
In the first nine months of the year, Wuxi's trade with South Korea, ASEAN, and the EU increased 20.6 percent, 19.7 percent, and 13.4 percent year-on-year, while its trade with RCEP members grew 13.7 percent year-on-year.
"We applied for nearly 200 RCEP certificates of origin and 170 million yuan worth of our goods enjoyed preferential tariff treatment in the first half of this year," said Tian Ye, general manager of Wuxi-based Cremer Greater China. "It helped us futher expand into the Japanese market."
Tian added that the RCEP has also helped Cremer channel its sales network in South Asia and greatly improve its competitiveness in the region.
