A bird's-eye view of Wuxi. [Photo provided to wuxi.gov.cn]
The foreign trade of Wuxi in East China's Jiangsu province reached 119.58 billion yuan ($16.55 billion) in the first two months of this year, a year-on-year increase of 4.8 percent, according to Wuxi Customs.
The figure represents 3.1 percentage points higher than the provincial average.
The solid start of Wuxi's imports and exports is based on its industrial advantages. According to customs data, in the Jan-Feb period, the import and export volume of electromechanical products in the city accounts for 70 percent of the total, a year-on-year increase of 12 percent.
The continuous investments from foreign-funded enterprises are also a strong engine behind the city's foreign trade growth. In the first two months, foreign-invested enterprises' import and export volume reached 67.14 billion yuan, a year-on-year increase of 10.4 percent, accounting for 56.1 percent of the total.
Companies in Wuxi are accelerating the exploration of emerging markets, which is a vivid testament to enhancing the city's foreign trade resilience. From January to February, Wuxi's imports and exports to South Korea, ASEAN, the European Union, Japan, and the United States increased by 12.2 percent, 10.8 percent, 10.3 percent, 2.8 percent, and 5.5 percent, respectively.
During the same period, imports and exports to RCEP countries increased by 8.2 percent, and imports and exports to countries involved in the Belt and Road Initiative expanded by 2 percent.
