City’s foreign trade sets record high last month
2017-12-25 Source:Hangzhou China

Hangzhou saw its exports and imports reach CNY 46.85 billion in November, up 12.8% YoY. To break down, exports rose 6.8% YoY to CNY 31.9 billion; imports rose 28.3% YoY to CNY 14.95 billion. What's worth noting is that both exports & imports combined and exports alone both set monthly highs in history, and imports is the highest this year, second high in history.

The city’s exports & imports combined rose 13.8% YoY to CNY 460.24 billion in the first eleven months. To break down, exports rose 4.1% YoY to CNY 312.67 billion; imports rose 41.5% YoY to CNY 147.57 billion.

“Exports to an African country with relatively small population can reach two to three containers each month with combined value of CNY 800,000, which is really beyond expectation in the past,” said Sun Jian, general manager of a local bike maker. For a traditional exporter, the US and Russia are the company’s export markets. What’s more, Sun wants to sell his bikes to the Middle East and Africa.

The city’s foreign trade with the European Union, the United States and the ASEAN countries rose 20.4%, 6.2%, 8.3% respectively in November to CNY 9.1 billion, CNY 7.27 billon and CNY 6.09 billion. The exports to the European Union, the United States grew 11.6%, 0.9% respectively, and exports growth to the ASEAN turns positive at 9.5%.

Hangzhou Fortune Gas Cryogenic Group achieved sales of nearly USD 100 million by selling equipment for three air separation plants with capacity of 80,000 Nm3/h to Iranian clients last year. The order is the largest in history for the country, and also the largest exports order in terms of sales value among all Chinese air separation equipment manufacturers. This year, Fortune Gas stroke several orders worth over CNY 100 million each with Iranian clients.

Like Fortune Gas, local companies in Hangzhou did very well in exporting high-tech products. Last month, the city’s high-tech product exports grew 13.1% YoY to CNY 4.39 billion, accounting for 13.8% of the total exports. The contribution was 12.9% last November. Also in November, the city’s electromechanical product exports grew 7.9% YoY to CNY 13.73 billion, accounting for 43% of the total exports. The figure was 42.6% last November. Exports growth of medicines and solar cells grew by 28.8% and 290%.

In addition, imports of electromechanical products, high-tech products grew by 53.4% and 61.5%, respectively. Imports of copper ore and plastic pellets grew 18.5 times, and 100%.

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