Wuxi sets record in foreign trade in Jan-July

Wuxi Customs officers check information. [Photo/WeChat account: news-wuxixinwen]

Foreign trade in Wuxi, Jiangsu province, totaled 428.77 billion yuan ($60.08 billion) in the first seven months of this year, setting a record in the city, statistics from Wuxi Customs showed.

The figure represents a 9.3 percent year-on-year increase.

Wuxi West Station Logistics Park. [Photo/WeChat account: news-wuxixinwen]

Since May, the import and export value in the city has remained steady around 65 billion yuan for three consecutive months.

As the largest foreign trade player, private enterprises in Wuxi have made every effort to improve the added value of their products. From January to July, the foreign trade of local private companies jumped 11.4 percent year-on-year.

A bird's-eye view of Wuxi. [Photo/WeChat account: news-wuxixinwen]

The continuous optimization of the foreign trade structure has further highlighted the improvement of Wuxi's manufacturing industry. In the Jan-July period, the city's exports of high-tech products increased by 9.8 percent year-on-year, accounting for nearly 40 percent of the total export value.

Finisar Optoelectronic Communication Technology (Wuxi), for instance, experienced a year-on-year increase of 108.1 percent in foreign trade from January to July, reaching $1.31 billion.

An official from the Wuxi municipal bureau of commerce noted that they will continue stabilizing the development of foreign trade and improving the structure to infuse local economic development throughout the year with a greater sense of confidence.