Emerging markets drive Huzhou's export surge
Huzhou in East China's Zhejiang province demonstrated remarkable growth in its foreign trade in the first quarter of this year, with its exports reaching 48.33 billion yuan ($6.68 billion), an 11.1 percent year-on-year increase.
In the first quarter, the city's imports and exports were valued at 51.01 billion yuan, a 10 percent year-on-year rise, driven largely by expansion into emerging markets.
A standout example of this strategic shift is Henglin Home Furnishings Company, based in the city, which recently participated in the second phase of the 137th Canton Fair. For the first time, the company brought its Latin America regional head to the fair. On the fair's opening day, the regional head engaged with over 30 potential clients.
Henglin Home Furnishings Company located in Anji county, Huzhou. [Photo/WeChat account: anjifb]
"The Latin American market is evolving, with high-end consumer demand on the rise," said the Latin America regional head.
Henglin Home Furnishings Company has already secured significant orders from Latin American clients, including from Venezuela's largest home appliance and furniture retailer, and recently shipped a batch of massage chairs to Peru.
Data from Huzhou Customs supports this trend, showing a significant increase in exports to emerging markets.
In the first quarter, Huzhou's exports to ASEAN, the Middle East, and Latin America increased by 21.1 percent, 14.2 percent, and 16.2 percent, respectively. ASEAN remains Huzhou's largest export market, accounting for 23.2 percent of the city's total exports.