Quzhou's foreign trade booms in Q1-3

Quzhou in East China's Zhejiang province achieved a total foreign trade value of 52.16 billion yuan ($7.12 billion) from January to September, up 17.4 percent year-on-year. The city's import and export growth rates both ranked first in the province.

The city's exports increased by 10.6 percent to 33.04 billion yuan during this period. Solar cell exports grew by 96 percent, boosting the city's export growth by 2.2 percentage points.

The city's imports surged by 31.2 percent to 19.12 billion yuan, mainly driven by pulp paper and its products, which grew by 96 percent and accounted for 28.7 percent of the city's total imports.

Quzhou's top four trading partners were ASEAN, South Korea, the European Union, and Brazil, with imports and exports expanding 62.7 percent, 30.7 percent, 11.6 percent, and 76.6 percent, respectively, to 13 billion yuan, 6.99 billion yuan, 5.69 billion yuan and 4.81 billion yuan. ASEAN was also the largest source of imports for Quzhou, accounting for 46 percent of the city's total imports.

The city's trade with countries involved in the Belt and Road Initiative and RCEP members totaled 31.33 billion yuan and 22.45 billion yuan, surging 22.5 percent and 40.1 percent, respectively.

The number of enterprises engaged in foreign trade in the city rose by 9.3 percent to 1,219, with private enterprises and foreign-invested enterprises both showing strong performance.

Private enterprises' foreign trade in the city amounted to 41.97 billion yuan, up 17.2 percent, while foreign-invested enterprises' imports and exports were valued at 8.17 billion yuan, up 36.4 percent.