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Shaoxing sees foreign trade rise 31.1% in Jan-Sept

ezhejiang.gov.cn| Updated: November 4, 2022 L M S

Shaoxing in East China's Zhejiang province reported robust foreign trade growth in the first three quarters of 2022, according to the local customs authorities on Oct 31.

The city's total import and export value from January to September hit 277.69 billion yuan ($38.43 billion), up 31.1 percent year-on-year.

Exports rose 31.9 percent year-on-year to 256.74 billion yuan, and imports increased 21.5 percent to 20.95 billion yuan, data from Shaoxing customs shows.

The city exported products worth 19.25 billion yuan via a market procurement trade mode.

The trade mode, which features quick customs clearance and value-added tax exemption, is one in which eligible business operators can buy goods with a single declaration value of up to $150,000 in market cluster areas recognized by commerce authorities and other agencies. The goods can also undergo customs clearance procedures at the point of purchase.