BRI drives Taizhou's foreign trade growth

Taizhou city – located in East China's Jiangsu province – is widely said to have achieved solid success in its foreign trade sector, particularly in its involvement in the Belt and Road Initiative.

Recent data showed that nearly half of Taizhou's total foreign trade  come from its import and export activities with the countries involved in the initiative.

To bolster its foreign trade, the metropolis has implemented various policies aimed at stabilizing and improving the sector's quality and efficiency.

As a result, from January to August this year the city reported that the total value of its imports and exports came in at 87.09 billion yuan ($11.94 billion), up 0.1 percent compared with the same period last year. That growth rate was a significant 7.3 percentage points higher than the provincial average.

One of the key factors driving Taizhou's success in foreign trade is the significant increase in the export of electromechanical products. The exports of such products amounted to 39.95 billion yuan during the period, a noteworthy year-on-year rise of 24 percent.

Taizhou's active participation in the Belt and Road Initiative has also contributed to its foreign trade growth. The value of imports and exports with the countries involved in the BRI accounted for 49.1 percent of Taizhou's total foreign trade in the period, totaling 42.73 billion yuan.