A panoramic view of Zhoushan. [Photo/WeChat account: china-zjftz]

The total import and export value of Zhoushan in East China's Zhejiang province increased 40 percent year-on-year in the first seven months of the year to 133.58 billion yuan ($20.61 billion), local media reported on Aug 23.

The city's exports stood at 45.3 billion yuan, a year-on-year increase of 39.4 percent, while its imports totaled 88.28 billion yuan, a year-on-year increase of 40.3 percent, during this period.

In July alone, Zhoushan's foreign trade was valued at 18.51 billion yuan, a year-on-year increase of 42.1 percent, including 5.89 billion yuan worth of exports.

The city's trade with emerging markets increased significantly in the Jan-July period with its trade with Oman, United Arab Emirates, as well as the Association of Southeast Asian Nations increasing 280 percent, 130 percent, and 86.9 percent year-on-year respectively.

Zhoushan's trade with the countries involved in the Belt and Road Initiative jumped 69.1 percent year-on-year to 74.36 billion yuan, accounting for 55.7 percent of the city's total.

Refined oil products, mechanical equipment, ships, aquatic products, and crude oil accounted for 96.2 percent of the total export value in Zhoushan, and refined oil products made up the lion's share with a value of 27.61 billion yuan for 8.99 million metric tons.

The foreign trade of private companies in the city amounted to 83.32 billion yuan, a year-on-year increase of 57 percent and accounting for 62.4 percent of the city's total amount, while that of the bonded logistics industry increased 53.1 percent year-on-year to 65.12 billion yuan.