Foreign trade decline narrows

Taicang, Jiangsu province posted a total import and export value of 57.62 billion yuan ($8.52 billion) from January to August, according to data from Taicang Customs, local media reported on Sept 19.

The exports were valued at 57.62 billion yuan and imports were valued at 31.04 billion. The decline in foreign trade has been narrowing for three consecutive months.

Imports and exports between Taicang and ASEAN countries were valued at 14.74 billion yuan, up 3.3 percent amid the COVID-19 outbreak.

Imports and exports between Taicang and countries involved in the Belt and Road Initiative were valued at 21.34 billion yuan, up 0.8 percent year on year.

Private enterprises took full advantage of the municipal government's supporting customs clearance policies and contributed 17.96 billion yuan in imports and exports, up 6.1 percent year on year and accounting for 31.2 percent of the city's total.

Hi-tech enterprises in Taicang received strong support from the government when attempting to resume operations and contributed 1.63 billion yuan in exports, up 22.2 percent year on year.