China’s Jiangsu sees foreign trade growth in October

A batch of vehicles is getting ready to be exported to foreign markets in Jiangsu port. [Photo/VCG]
NANJING – The total import and export of goods in East China’s Jiangsu province grew 5.4 percent year-on-year to 458.78 billion yuan ($64 billion) in October, local customs authorities said.

In October, the province’s exports climbed 2.2 percent year-on-year to 291.76 billion yuan, while its imports stood at 167.02 billion yuan, up 11.7 percent year-on-year, according to Nanjing Customs.

In the first 10 months of this year, Jiangsu’s total foreign trade reached 4.29 trillion yuan, with exports reaching 2.75 trillion yuan and imports hitting 1.54 trillion yuan.

Private enterprises have become an important accelerator for the province’s foreign trade growth. From January to October, the import and export volume of private enterprises reached 1.9 trillion yuan, up 5.9 percent year-on-year, accounting for 44.3 percent of the province’s total foreign trade volume.

Jiangsu’s trade with its five major partners – the Association of Southeast Asian Nations, the European Union, the United States, the Republic of Korea and Japan – accounted for over 60 percent of its total foreign trade.

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