The export-import volume of Wenzhou city – located in East China's Zhejiang province – totaled 150 billion yuan ($23.21 billion) during the January-August period, a year-on-year increase of 9.9 percent, according to the municipal bureau of commerce.
Of that, imports rose 47.3 percent to 25.53 billion yuan, representing the third-highest growth rate in the province. Exports hit 124.47 billion yuan, for a year-on-year increase of 4.4 percent – below expectations, mainly due to tough international logistics conditions.
The latest performance came as the municipal government issued the Wenzhou "3+14+14" Foreign Trade High-quality Development Action Plan – calling for a shift in focus to high-quality development.
In the context of the plan, "3" means the linkages of "sea, air, and rail" ports; "14" refers to business linkages to 14 counties (county-level cities, districts) and functional areas; while the final "14" indicates service linkages to 14 industry associations.
Lucheng district and Ruian city governments – along with the Wenzhou municipal bureau of commerce and Wenzhou customs – recently signed a memorandum of cooperation on the development of a consolidation center in the city with Wenzhou Port Group.
The aim of the project is to accelerate the formation of a complete foreign trade supply chain system, thereby reducing the logistics costs of Wenzhou's exports.
