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Zhejiang's foreign trade with Belt & Road countries sees rapid growth

(ezhejiang.gov.cn) Updated : 2017-05-18

The total value of foreign trade in East China's Zhejiang province reached 761 billion yuan ($149 billion) in the first four months of 2017, up 19.5 percent year-on-year, statistics from customs authorities show.

Trade with countries involved in China's Belt and Road Initiative (BRI) saw an average year-on-year growth rate of 19 percent. Exports to Russia, Iran, Poland and Iraq jumped by 30 percent, 34.1 percent, 23.6 percent and 28.5 percent.

Increases in bulk commodities drove imports and high-tech products drove exports.

Hangzhou Customs said there was a need for the province to increase economic cooperation with BRI countries and accelerate development of high-tech industries.