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Jinhua: Second Biggest Exporter in Zhejiang
Post Time: 09/08/2018

 

According to statistics from the Jinhua Bureau of Commerce, in the first half of this year, under pressure from Sino-American trade friction, Jinhua’s export trade still made progress while ensuring stability: its export value and export growth ranked 2nd and 3rd in Zhejiang, respectively.

From January to June, the total value of the imports and exports of Jinhua was 178.9 billion RMB, a year-on-year increase of 8.4%. Its value of exports was 174.57 bn RMB, accounting for 17.7% of the province’s export share, and its export growth rate was 8.7%, higher than that of the whole country and the whole province.

 

Yiwu, Yongkang, and Wuyi Top Three Exporters in Jinhua

In the first half of this year, Yiwu, Yongkang, and Wuyi were the top three exporters in Jinhua, with export values of 122.67 bn RMB, 14.09 bn RMB, and 9.37 bn RMB, respectively. Jinyi New Urban District, Jindong District, and Pujiang County had relatively fast export growth, with rates of 17.3%, 14.6%, and 13.7%, respectively.

Private enterprises played a significant role in Jinhua’s exports: in the first half of the year, the export value of private enterprises (169.93 bn RMB) far exceeded that of other types of enterprises. In addition, the export value of foreign-invested enterprises was 3.95 bn RMB. The export value of these two types of enterprises accounted for 99.6% of Jinhua’s exports.

 

Main Exports

Electromechanical products, high-tech products, and textile light industrial products were the main exports from Jinhua.

In the first half of this year, the electromechanical products ranked first on the list of exports, with an export value of 69.13 bn RMB and a year-on-year increase of 9.5%, accounting for 39.6% of Jinhua’s total exports. Among them, the export of transportation tools, mechanical equipment, and metal products increased significantly.

The traditional labor-intensive products have always been another major force in Jinhua’s exports. In the first half of this year, the export value of textiles and garments reached 30.55 bn RMB, a year-on-year increase of 9.9%, accounting for 17.5% of Jinhua’s exports. The export value of light industrial products was 38.59 bn RMB, a year-on-year increase of 3.4%, accounting for 22.1% of Jinhua’s exports.

In addition, the export value of high-tech products in the first half of this year was 4.29 bn RMB, a year-on-year increase of 15.8%. Among them, the export value of electronic products was 1.49 bn RMB, a year-on-year increase of 45.8%.

Among the top 30 major exports in Jinhua, steel fasteners, solar cells, cosmetics, and non-industrial steel products had fast export growth, with the lowest rate at 27.8% and the highest rate at 62%.

 

Market-Purchase Trade Takes the Lead

From January to June this year, Jinhua exported 101.55 bn RMB by market-purchase trade, a year-on-year increase of 9.1%, accounting for 58.2% of the city’s export value and contributing 60.3% to the city’s export growth.

The new mode of trade has become an important force in Jinhua’s exports. From January to June this year, Jinhua’s cross-border e-commerce exported 1.4 bn RMB, a year-on-year increase of 2.3 times, which is higher than Zhejiang’s cross-border e-commerce export growth rate, and it accounted for 79.5% of the province’s cross-border e-commerce exports.

 

Jinhua’s Export Volume along the B&R Ranks First in Zhejiang

Countries along the Belt and Road have become important trading partners of Jinhua. In the first half of this year, Jinhua exported 77.88 bn RMB to countries along the Belt and Road, a year-on-year increase of 7.5%, accounting for 44.6% of the city’s total exports. This export volume ranked first in Zhejiang, accounting for 23.9% of the whole province’s exports to these countries. In addition, the value of exports to 16 countries in Central and Eastern Europe was 6.42 bn RMB, a year-on-year increase of 29.2%.

In the first half of 2018, the export values of Jinhua’s two traditional export markets, the EU and the ASEAN, was 23.92 bn RMB and 15.44 bn RMB, year-on-year increases of 9.0% and 10.3%, respectively. The export values of the two emerging export markets of Africa and Latin America was 32.22 bn RMB and 20.01 bn RMB, year-on-year increases of 12.7% and 19.9%, respectively.

In addition, affected by the Sino-American trade friction, many foreign trade companies have accelerated their exports to the United States to avoid risks. In the first half of this year, Jinhua exported 17.75 bn RMB to the United States, a year-on-year increase of 8.7%, which accounts for 10.2% of the city’s total exports and is the same as that of the same period last year. Notably, in June, Jinhua’s exports to the United States increased by 12.9% on a year-over-year basis, which reflected companies’ quick reaction to the Sino-American trade friction. (By Chen Yuedan, translated by Shen Yingying, edited by Kendra Fiddler)

 

Source text:

www.jinhua.gov.cn/11330700002592599F/jjfz/wsjjfx/201808/t20180802_2582988_1.html

 

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