Hangzhou's foreign trade up 7.8% in first eight months
Hangzhou's total foreign trade reached 568.3 billion yuan ($79.8 billion) from January to August this year, up 7.8 percent year-on-year, accounting for 15.4 percent of Zhejiang province's total, according to Qianjiang Customs.
Exports grew 10.9 percent to 408.05 billion yuan, while imports rose 0.7 percent to 160.25 billion yuan. Mechanical and electrical products remained the city's leading exports, totaling 199.74 billion yuan.
Notably, the "new three" products — lithium batteries, electric vehicles and solar cells — achieved robust growth, with exports climbing 65.5 percent to 15.76 billion yuan.
Local exporters are benefiting from both policy incentives and customs facilitation. Hangzhou Jieneng Technology Co Ltd received online approval from Qianjiang Customs for lithium battery packaging, enabling faster shipments to South Africa. "Customs clearance has become more convenient, and we are more confident in taking new orders," said Huang Changming, the company's sales manager.
Zhejiang Geely Automobile International Corporation began large-scale exports of new energy vehicles this year, mainly to Malaysia and Indonesia. With guidance from Qianjiang Customs, the company applied for certificates of origin under the China-ASEAN Free Trade Agreement, which provide a five percent tariff reduction. In the first eight months, it obtained 1,411 certificates, up 35 percent year-on-year.
Regionally, Hangzhou's exports to the EU reached 80.78 billion yuan, up 13.2 percent, while exports to ASEAN markets rose 22.2 percent to 58.25 billion yuan. Exports to countries and regions involved in the Belt and Road Initiative hit 202.04 billion yuan, up 18.5 percent.
Private enterprises remained the main driver of the city's foreign trade growth, with imports and exports totaling 397.87 billion yuan, up 12.3 percent.
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