In the first five months of this year, Jiangsu’s total foreign trade import and export value reached 2.84 trillion yuan, a year-on-year increase of 21.7%, a growth rate 6.3 percentage points higher than the national level, accounting for 13.7% of the country’s total import and export value.
Among them, exports were 1.85 trillion yuan, an increase of 18.9%, imports were 988.65 billion yuan, an increase of 27.2%, and the three indicators of import, export, and import increased steadily across the board.
Against the background of sluggish global trade recovery, fluctuating external demand, and complex geopolitical situations, every percentage point increase is rooted in fertile industrial soil and comes from deep opening-up. It also reflects the responsibility and resilience of China’s eastern coastal economic province.
Foreign trade is the “barometer” of economic development and the “touchstone” of regional industrial strength.
The steady growth of Jiangsu’s foreign trade is the result of long-term efforts in manufacturing and consolidating the real economy.
The core advantage of Jiangsu’s foreign trade lies in the support of a complete and solid industrial system.
From the strategic emerging industry clusters such as high-end equipment, new energy, and integrated circuits in southern Jiangsu to the characteristic and advantageous industrial belts along the rivers and coasts such as new materials, fine chemicals, and textile light industry, from the leadership of chain owners of leading enterprises to the supporting support of small, medium and micro enterprises, a multi-level, full-chain manufacturing ecology has built the core chassis for foreign trade growth.
The export growth rate of 18.9% confirms the steady transition from “Made in Jiangsu” to “Created in Jiangsu”.
Today’s Jiangsu exports, high-tech and high-value-added products such as photovoltaic modules, engineering machinery, intelligent equipment, and new energy products continue to be popular around the world, and they have established a foothold in the international market segments with their technological and quality advantages.
The 27.2% growth rate of imports is higher than that of exports, which is the rigid demand for high-end equipment, core components, and high-quality raw materials by the province’s industrial iterations. It is a true reflection of the domestic cycle of quality improvement and upgrading, and has formed a virtuous internal and external cycle of “imports empowering industries and industries supporting exports.”
The open pattern determines the breadth of development.
As the forefront of the Yangtze River Delta’s opening-up and an important intersection of the “One Belt and One Road” initiative, Jiangsu has always embraced the global market with two-way opening up, does not rely on a single market, does not stick to traditional paths, and continues to consolidate the diversified foundation for foreign trade growth.
In recent years, Jiangsu has continued to deepen its development in the RCEP region, jointly build emerging markets such as the “Belt and Road”, and optimized the layout of traditional European and American markets, effectively hedging the risk of global market demand differentiation.
At the same time, open platforms such as free trade pilot zones, cross-border e-commerce comprehensive pilot zones, and comprehensive bonded zones continue to empower, and new business forms and models such as market procurement, overseas warehouses, and offshore trade are booming, injecting lasting vitality into foreign trade growth.
The three-dimensional open channel linked by water, land, air and railway connects rivers and seas to all continents and seas, allowing various business entities to connect with global resources and deepen the international market with smoother channels and more controllable costs.
The stable and improving trade data is behind the persistence and innovation of tens of millions of business entities.
The vitality of the foreign trade economy is rooted in the hard work of thousands of enterprises.
From the government level, which continues to optimize the foreign-related business environment, streamline customs clearance procedures, implement enterprise-friendly policies, solve financing and logistics problems, reduce burdens and protect enterprises, to countless companies taking the initiative to seek change, deepen innovation, and continue to make efforts in technology research and development, brand building, and market development, the government and enterprises have come together to form a majestic force for the steady growth of foreign trade.
The coordinated efforts of large and medium-sized enterprises, and the complementary progress of traditional trade and new business formats have given Jiangsu’s foreign trade both scale and development resilience.
One area can see the overall situation, and another area can reflect the general trend.
Jiangsu’s outstanding performance in foreign trade is a vivid epitome of China’s strong economic resilience and unswerving opening-up.
At present, the global economic recovery process is slow and tortuous, international trade competition is becoming increasingly fierce, and foreign trade development still faces many uncertainties and challenges. The 21.7% growth rate is a staged breakthrough and a new starting point.
We adhere to industry, openness, and innovation, and move steadily against the tide of the times, continuing to inject ample momentum into China’s high-level opening up and high-quality economic development.
