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Private enterprises contribute to Zhejiang's growing exports in H1

chinadaily.com.cn| Updated : Aug 8, 2023

Despite the national import and export growth rate decreasing, Zhejiang has consistently outperformed Jiangsu in export since March of this year, ranking second in the country.

Private enterprises played a major role in the growth of the province's foreign trade.

Hangzhou Customs data show that in the first half of the year, the imports and exports of the province's private enterprises were valued at 1.88 trillion yuan ($260.66 billion), an increase of 8.4 percent and accounting for 79.7 percent of the province's total.

For example, Ruili Textile (Jiaxing) Co Ltd performed strongly in the first half of this year due to the company's successful overseas cooperation.

Fei Zhongfu, chairman of Ruili Textile (Jiaxing) Co Ltd, which sells inflatable sofas mainly in Europe, has established a factory for the final filling process of its products in Poland, and the factory will start production in October.

The factory was built in Eastern Europe to lower the company's freight costs, speed up orders, and reduce the price of products by 10 percent.

At the exhibition in Cologne, Germany in June, when Fei announced that the company has factories in Europe, customers showed great interest. "Customers who were hesitant are now starting to place orders, and the total number of orders is growing," he said.

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