A bird's-eye view of the Yueqing Bay Port in Wenzhou, East China's Zhejiang province. [Photo by Liu Wei & Wu Jie/WeChat account: wenzhoufabu]
Wenzhou customs recently announced that in the first half of this year, the total value of the city's imports and exports reached 142.66 billion yuan ($21.11 billion), a year-on-year increase of 30.8 percent.
The value of exports during the period was 121.79 billion yuan, an increase of 36.4 percent, while imports were valued at 20.87 billion yuan, up 5.4 percent. The growth rate of the city's imports and exports, as well as its export growth, ranked first in Zhejiang province.
Mechanical and electrical products remained Wenzhou's main export, as they generated a value of 62.34 billion yuan, a year-on-year increase of 32.7 percent. They also accounted for 51.2 percent of the city's total exports. The city's export of labor-intensive products was 42.35 billion yuan, up 44.5 percent.
Wenzhou's imports and exports to and from the top five trading markets of ASEAN, the European Union, the United States, Africa, and Latin America increased by 52.6 percent, 24.1 percent, 51.8 percent, 19.8 percent, and 17.8 percent respectively.
In addition, imports and exports to and from countries involved in the Belt and Road Initiative reached 66.01 billion yuan, up 34.6 percent year on year and accounting for 46.3 percent of the city's total.
Private enterprises in Wenzhou generated 135.1 billion yuan in imports and exports in the first half of this year, up 31.1 percent, while foreign-funded enterprises and State-owned enterprises generated 4.17 billion yuan and 2.85 billion yuan, respectively, up 20.0 percent and 25.7 percent.
