Jiaxing's foreign trade in the first three quarters of 2024 showed impressive growth, with the city's total import and export value growing 9.3 percent year-on-year to 361.97 billion yuan ($50.94 billion).

The city's major export markets include the European Union, the United States, and ASEAN, with exports growing to 53.69 billion yuan, 43.32 billion yuan, and 41.33 billion yuan, respectively. Emerging markets also saw growth, with exports to the Middle East up by 11.5 percent and to Latin America by 2.3 percent.

The city's exports to countries involved in the Belt and Road Initiative amounted 118.42 billion yuan, an uptick of 11.8 percent and accounting for 43.5 percent of the city's total exports.

Jiaxing's imports from ASEAN and the US surged, contributing significantly to overall growth. Imports from ASEAN increased by 49.2 percent to 30.66 billion yuan, while from the US they increased by 52.6 percent to 11.35 billion yuan.

Jiaxing's exports of labor-intensive products rose by 8.9 percent, while imports of mechanical and electrical products, as well as high-tech products, grew by 39.4 percent and 21.3 percent, respectively.

This impressive performance stems from Jiaxing's focus on stimulating foreign trade and fostering new growth drivers. In the first three quarters, Jiaxing arranged for over 3,150 enterprises to participate in 150 overseas exhibitions, securing orders worth approximately $4 billion.