According to statistics from Nanjing Customs, Jiangsu’s total foreign trade in the first seven months of this year reached RMB 4.18 trillion, up 26.2% on a year-on-year basis (hereinafter the same), 9 percentage points higher than the national growth rate and taking up 13.9% of China’s total foreign trade during the same period. Of this total, exports reached RMB 2.71 trillion, up 22.6%, while imports reached RMB 1.47 trillion, up 33.5%.

In July, Jiangsu’s foreign trade totaled RMB 691.04 billion, up 39.7%. The monthly trade volume hit a record high for the fourth consecutive month, with the growth rate 20.5 percentage points higher than the national average. Jiangsu accounted for 14.8% of China’s total foreign trade for the month. Exports reached RMB 440.88 billion, up 35.3%, while imports stood at RMB 250.16 billion, up 48.2%.

In the first seven months, foreign-invested enterprises in Jiangsu recorded RMB 2.04 trillion in imports and exports, up 31.1% and accounting for 48.8% of the province’s total foreign trade during the period. They contributed 14.6 percentage points to the province’s overall foreign trade growth. Private enterprises recorded RMB 1.65 trillion in imports and exports, up 12.1% and accounting for 39.5%, while state-owned enterprises recorded RMB 490.51 billion, up 73.1% and accounting for 11.7%.

The share of Jiangsu’s foreign trade with Belt and Road partner countries increased significantly. In the first seven months, Jiangsu’s imports and exports with Belt and Road partner countries reached RMB 2.22 trillion, up 35.2%, contributing 17.5 percentage points to the province’s overall foreign trade growth. Their share of Jiangsu’s total foreign trade rose by 3.5 percentage points from the same period last year to 53.2%. Among them, trade with the ASEAN countries totaled RMB 810.85 billion, up 36.4%.

Exports of mechanical and electrical products accounted for nearly three quarters of Jiangsu’s total exports. In the first seven months, exports of mechanical and electrical products reached RMB 2.01 trillion, up 31.9%, contributing 22 percentage points to the province’s export growth. Their share rose by 5.2 percentage points from the same period last year to 74.3%.