Statistics from Nanjing Customs showed a 29.8% year-on-year growth in Jiangsu’s foreign trade to RMB 5.69 trillion in the first three quarters, marking a rate 11 percentage points higher than the national average and a volume constituting 14.2% of the national total. Exports registered RMB 3.67 trillion, up 25.5%, and imports hit RMB 2.02 trillion, up 38.4%. In September, Jiangsu’s imports and exports hit RMB 813.6 billion, crossing the RMB-800-billion threshold for a single month for the first time, registering an increase of 45.5%. Exports contributed RMB 521.33 billion, up 41.4%, and imports, RMB 292.27 billion, up 53.4%.

The statistics revealed the following features. First, the share of processing trade rose. Over the first three quarters, general trade totaled RMB 2.68 trillion, up 7.7%, accounting for 47.1% of Jiangsu’s total foreign trade. Processing trade stood at RMB 2.14 trillion, registering a remarkable 51% surge. Its share rose by 5.3 percentage points to 37.6% and it boosted the growth rate by 16.5 percentage points.

Second, foreign-invested enterprises made up nearly 50% of Jiangsu’s foreign trade. Imports and exports of foreign-invested enterprises reported a growth of 34.9% to RMB 2.77 trillion, with their proportion edging up 1.8 percentage points to 48.8%. Private companies posted RMB 2.21 trillion in trade, an increase of 13.6%, accounting for 38.8% of the total.

Third, trade with BRI partner countries demonstrated remarkable growth. From January to September, Jiangsu’s trade with BRI countries reached RMB 3.05 trillion, up 38.9%. It drove Jiangsu’s total foreign trade growth by 19.5 percentage points and now constituted 53.6% of the total with an increase of 3.5 percentage points. Trade with ASEAN countries and the ROK grew by 39.8% and 108.6% respectively, and with the EU, by 16.5% to RMB 720.83 billion.

Fourth, mechanical and electrical products became a robust growth pillar. Exports of these products recorded RMB 2.75 trillion, an increase of 34.9%, contributing to a growth of 24.4 percentage points in total exports. Their share rose by 5.2 percentage points to 75.1%. Imports of these products hit RMB 1.39 trillion, up 64.5%, with their share rising 10.9 percentage points to 68.5%.