According to statistics from Nanjing Customs District, in the first 10 months of this year, Jiangsu Province's total import and export value of goods trade was RMB 4.61 trillion, up 7.6% year-on-year (the same below), with a growth rate 2.4 percentage points higher than that of the whole country, accounting for 12.8% of China's total import and export value during the same period. Specifically, exports amounted to RMB 2.97 trillion with an increase of 8.1%, while imports amounted to RMB 1.64 trillion with an increase of 6.8%.

Main features of Jiangsu's foreign trade import and export in the first 10 months:

The import and export by general trade accounted for nearly 60% of the total. In the first 10 months, Jiangsu's imports and exports by general trade reached RMB 2.63 trillion, up 6.5%, accounting for 57.1% of the province's total import and export value. During the same period, the import and export value of processing trade was RMB 1.48 trillion, up 10.2%, accounting for 32% of the total. The value of import and export by bonded logistics was RMB 466.41 billion, up 7.7%, accounting for 10.1% of the total.

The picture shows that Changzhou Port is loading towers for wind power equipment to be exported. Photograph by Xia Chenxi

 Private Enterprises Grew Steadily. In the first 10 months, private enterprises in Jiangsu Province recorded import and export activities totaling RMB 2.08 trillion, up 9.8%, contributing 4.3 percentage points to the province's overall import and export growth rate, and accounting for 45.2% of the province's total foreign trade. The import and export value of foreign-invested enterprises and state-owned enterprises was RMB 2.17 trillion and RMB 359.8 billion respectively, accounting for 47% and 7.8% of the province's total import and export value respectively.

Significant Growth in Emerging Markets. In the first 10 months, Jiangsu Province's import and export to countries involved in the Belt and Road Initiative reached RMB 2.03 trillion, up 11.1%, contributing 4.7 percentage points to the province's import and export growth rate, with its share increased by 1.4 percentage points to 44.1% compared with the same period last year. Among them, the total import and export trade with ASEAN and South Korea reached RMB 724.15 billion and 468.91 billion respectively, up 9.8% and 13.4% respectively.

The Export of Mechanical and Electrical Products Grew Rapidly, with Its Share in Total Trade Increased. In the first 10 months, Jiangsu Province exported RMB 2.04 trillion of mechanical and electrical products, up 9.3%. Among them, the exports of integrated circuits, mobile phones, ships and auto parts increased by 32.6%, 23.4%, 63.2% and 7.9% respectively. In addition, the labor-intensive products and basic organic chemicals exported by the province reached RMB 425.54 billion and RMB 81.09 billion respectively, up 7.2% and 14.6% respectively.

Picture: Rugao Customs officers are inspecting imported iron ore at the wharf. Photograph by Fan Yalong

Imports of Metal Ores Have Increased Significantly. In the first 10 months, Jiangsu Province imported RMB 911.6 billion of mechanical and electrical products, up 11.3%. During the same period, Jiangsu Province imported RMB 243.41 billion of bulk commodities, up 4.8%, including RMB 84.59 billion of metal ores and ore sands, up 10%.