Foreign trade of comprehensive bonded zone in NETDA hits record high in July

According to Nantong Customs, the imports and exports in the comprehensive bonded zone in the Nantong Economic and Technological Development Area (NETDA), East China's Jiangsu province were worth 2.8 billion yuan ($405 million) in July alone, a record high in foreign trade for a single month. 

The zone's total foreign trade value reached 8.7 billion yuan in the January-July period, a year-on-year increase of 81 percent, accounting for 21.4 percent of NETDA's total. 

The growth rate was ranked first among districts and counties in Nantong and fourth among the 21 comprehensive bonded zones in the province during the same period, 67 percentage points higher than that of the province. 

Among them, the imports and exports of high-tech products, including high-end chips, laptops and biomedicines, were valued at 6.7 billion yuan, up 156 percent year-on-year, accounting for 77 percent of the zone's total foreign trade. 

The zone's foreign trade contributed 440 million yuan worth of taxes from January to July, an increase of 47 percent year-on-year. 

One of the reasons behind the increase is the implementation of a series of measures rolled out by the authorities in NETDA, including explaining favorable policies to enterprises and releasing special policies to help enterprises in the zone weather challenges brought about by the COVID-19 pandemic. 

To date, all preferential policies have been implemented and more than 20 companies have benefitted from the policies.