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Dinghai foreign trade soars 140.8% Jan-May

Updated : 2020-07-03 (chinadaily.com.cn)

Imports and exports in Dinghai district, Zhoushan totaled 30.681 billion yuan ($4.446 billion) from January to May, local authorities said.

The figure represented a year-on-year increase of 140.8 percent in the first five months of this year.

The district's exports stood at 3.26 billion yuan over the period, rising by 26.5 percent, while imports amounted to 27.421 billion yuan, an increase of 169.8 percent, according to a government press conference held on June 30.

The exports of labor-intensive products from the district including aquatic products, plastic machine screws, and textiles declined due to the COVID-19 epidemic. 

To deal with the situation, the local authorities have mobilized enterprises to participate in expos to secure new orders. 

According to Huang Xiaogang, deputy head of the Dinghai district bureau of commerce, 11 enterprises from the district reached intended deals worth over $2 million at the 127th China Import and Export Fair, also known as the Canton Fair, which concluded on June 24. 

Also more than 30 local businesses signed up for the 2020 Zhejiang Export Commodities Online Fair. 

Meanwhile, a string of measures has been rolled out to help enterprises tap the domestic market under the gloomy foreign trade landscape. 

As one example, local authorities have helped 10 aquatic product exporters establish business links with some renowned domestic e-commerce platforms, supermarkets and supply chain companies.

Xu Ling, head of the foreign trade and investment promotion department of Dinghai district bureau of commerce, revealed that more measures are the in the pipeline to help foreign trade companies expand marketing channels and branding promotion.

Huang predicted that the district's foreign trade will see stable growth in the second half of this year, adding that oil exports will be better than last year and overseas ship repairing businesses are expected to see strong growth.