The total value of Quzhou's foreign trade from January to May was 20.55 billion yuan ($3.07 billion), a year-on-year increase of 16.9 percent, according to Quzhou Customs.

The export value amounted to 14.39 billion yuan, up 32.2 percent year-on-year. The growth rate was ranked third in Zhejiang province, 10.8 percentage points higher than the provincial average.

In May, the city's foreign trade totaled 5.5 billion yuan, an increase of 37.4 percent. The export value was 3.93 billion yuan, an increase of 54.8 percent - the highest growth rate in the province - while the import value was 1.56 billion yuan, up 7 percent.

From January to May, imports and exports of processing trade in the city reached 2.25 billion yuan, an increase of 49.1 percent - the highest growth rate in the province and accounting for 11 percent of the city's total.

During the period, the city's top four trading partners were ASEAN, the European Union, South Korea and the United States. Its trading volume with these economies was 2.91 billion yuan, 2.64 billion yuan, 2.47 billion yuan and 2.33 billion yuan respectively, up 67.7 percent, 39.2 percent, 25.9 percent and 14.9 percent. Trade with these four partners accounted for 50.3 percent of the city's total.

In addition, the city's trade with countries involved in the Belt and Road Initiative expanded 44.8 percent to 5.67 billion yuan.

The city's trade volume with the RCEP member countries was 6.94 billion yuan, up 20.7 percent year-on-year.