Yiwu in East China's Zhejiang province saw its foreign trade grow 29.8 percent year-on-year to 306.64 billion yuan ($43.7 billion) in the first eight months of 2022, according to the local customs office.

Exports rose 25.1 percent year-on-year to 279.11 billion yuan, while imports surged 111 percent to 27.53 billion yuan.

From January to August this year, Yiwu exported goods worth 207 billion yuan through market procurement trade, increasing the city's exports by14 percentage points. General foreign trade increased by 54.6 percent year-on-year to 86.15 billion yuan.

During this period, Yiwu's foreign trade with the European Union, America, India and South Korea increased by 69.2 percent, 64.9 percent, 66.4 percent, and 105.1 percent, respectively, reaching 41.65, 39.57, 15.64 and 7.83 billion yuan.

The city's trade with countries and regions involved in the Belt and Road Initiative and Regional Comprehensive Economic Partnership member countries became more frequent this year.

Yiwu's imports and exports to BRI countries and regions increased by 15.9 percent year-on-year to 114.47 billion yuan, while foreign trade with other RCEP member countries increased by 28.3 percent year-on-year to 50.99 billion yuan.

In the first eight months of 2022, the value of the city's exports of high-tech products surged 182.1 percent year-on-year to 25.53 billion yuan. Imports of high-tech products increased five-fold yearly to 3.76 billion yuan.