On July 24, Jinhua released its economic performance report for the first half of the year, and the results were remarkable. The total GDP reached 273.303 billion RMB, an increase of 7% at comparable prices. This growth rate is 1.5 percentage points higher than the growth rate in the first quarter and 0.2 percentage points above the provincial average. The city made significant progress in expanding investments, with a 13% increase in fixed assets investment, ranking first in the province. Foreign trade performed exceptionally well, with a total import and export volume of 369.41 bn RMB, showing a 15.2% increase. The city’s exports amounted to 316.75 bn RMB, an 11.2% growth rate. The city ranked second in scale and growth rate in the province, but its contribution rate was the highest in the province. The market saw strong activity from various entities, with a total of 1.7196 million entities operating in the city. This reflects a growth rate of 13.8%, ranking second and first in the province in terms of total volume and growth rate, respectively.

Robust Transportation Support

On July 4, the ceremony for the expansion of the Jinhua Railway Hub took place at the entrance of the Wufengshan Tunnel in Yiwu, signifying the project’s commencement.

The expansion and reconstruction of the Jinhua Railway Hub holds significant importance. It is not only a major project included in the national planning for the integrated development of higher-quality transportation in the Yangtze Delta region but also a significant undertaking for the construction of a highly advanced transportation province.

Improving Platform Efficiency

Jinhua is fast-tracking the development of various platforms, including the Jinyi Airport Railway Hub Economic Zone, Yiwu Railway Port, Yiwu Port, Jinyi Comprehensive Bonded Zone, Yiwu Comprehensive Bonded Zone, Yiwu Airport, Cross-Border E-Commerce Center, Yiwu International Mail Exchange Bureau, and Bonded Logistics Center (B-type). These efforts aim to provide support and assurance for functions like streamlined customs clearance, open trade, efficient circulation and trading, and the concentration of industrial resources at the hub port.

Exploring New Paths

On June 16, the Yiwu-Xinjiang-Europe (YXE) German distribution center in Duisburg was officially launched. The operator, Tianmeng Company, used a little over three months to leverage the existing YXE China Railway Express (CRE) channel and overseas logistics support system, integrating overseas logistics resources to establish Jinhua’s first overseas logistics hub distribution center.

Jinhua is a significant player in the global export market. Despite reduced external demand and trade barriers this year, Jinhua’s exports have remained remarkably resilient. According to the data, in the first half of this year, the YXE CRE operated a total of 1,366 trains, shipping 112,200 TEUs, an increase of 15.5%.

This year, the Jinyi District of the Pilot Free Trade Zone has been dedicated to deepening the concept of the “five freedoms” and promoting the smooth cross-border flow of data. The district is actively integrating innovative institutional approaches. (Text by Zhang Yixiao, photo by Tong Jun)