A busy container terminal in Nantong. [Photo/Nantong Daily]

From January to November this year, the total foreign trade of Nantong in Jiangsu province reached 349.5 billion yuan ($47.91 billion), a year-on-year growth rate of 10.4 percent, according to the latest statistics from Nantong Customs.

Specifically, exports amounted to 227.88 billion yuan, a year-on-year increase of 9.8 percent, while imports totaled 121.62 billion yuan, an 11.6 percent year-on-year increase. The growth rates in foreign trade, exports, and imports were all higher than the national and provincial averages.

In November alone, the city's import and export volume reached 31.12 billion yuan, staying above 30 billion yuan for the fifth consecutive month and marking a 6.9 percent year-on-year increase.

Nantong has seen growth in imports and exports with traditional markets and emerging partners. In the first 11 months of this year, the total import and export value with traditional markets such as the United States, Europe, and Japan reached 135.89 billion yuan, a 4.9 percent year-on-year increase and accounting for 38.9 percent of the city's total foreign trade value.

The city's exploration of emerging markets continues, with imports and exports to Brazil reaching 23.6 billion yuan, a significant year-on-year increase of 66.3 percent, and imports and exports to Russia totaling 17.73 billion yuan, up 12.4 percent from previous year.

Private and foreign-funded enterprises in Nantong still maintained robust development momentum in the Jan-Nov period. The number of foreign trade entities with import and export records in the city reached 8,505, surpassing the previous record of 8,087 for the entire previous year.