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A buoyant start of foreign trade in Huai’an
updated on:2021-03-29 08:15

Over the first two months of 2021, Huai’an scored RMB 5.86 billion in imports and exports, an increase of 52.6% over last year. The growth is 20.4 and 22.5 percentage points higher than the national and provincial rates, respectively, putting Huai’an in the front seat.

This year saw Huai’an keeping up with the upsurge from the second half of 2020, with 8 consecutive months grew higher over the previous year. Huai’an Custom took the initiative in keeping foreign capital and foreign trade stable while containing Covid-19 by providing a tailor-made custom clearing monitoring model to large local enterprises, including Qingding Precision Electronics Co., Ltd. and Want Want Group. The model features declarations in two steps, entry in two sections, direct loading after arrival and fast transport routes, which significantly reduces costs but markedly increases efficiency. The custom also experimented new regulation approaches that fit in with the realities of Huai’an, in order to encourage local enterprises to better utilize domestic and international resources and markets, thus creating new drivers for foreign trade.

From January to February, export of mechanical and electronic products hit RMB 2.22 billion, up by 40.6%; export of labor-intensive products hit RMB 960 million, an increase of 46.1%; and import of electronic components, such as integrated circuits, registered RMB 530 million, up by 174.6%. At the moment, the world is unanimously responding to Covid-19, which leads to a rebound in production and sales in major economies in North America and Europe, hence the resumption of exports in Huai’an to pre-pandemic levels, especially, exports of automotive parts, apparatus and clothing, and storage batteries. As the domestic economy stays on the steady course of recovery, a hot season of sales will appear after the Spring Festival holiday and the market demand is expected to grow further, which will lead to a surge in importing raw materials, such as iron ores, milk powders, and cotton, and production machinery, thereby keeping Huai’an’s momentum in foreign trade on. 

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