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Ningbo foreign trade soars 6.4%

Updated:2019-11-14 (chinadaily.com.cn)

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A container ship anchors at Ningbo Zhoushan Port and waits to be unloaded. [Photo by YAO FENG/FOR CHINA DAILY]

Ningbo's imports and exports rose 6.4 percent year-on-year to 755.97 billion yuan ($112.8 billion) from January to October, according to statistics from local custom authorities. 

Imports stood at 263.11 billion yuan over the period, rising by 3.6 percent, while exports amounted to 492.86 billion yuan, an increase of 7.9 percent, according to Ningbo Customs. 

Private enterprises and foreign-funded enterprises made up the majority of the city's foreign trade volume over the 10 month period. 

The combined value of foreign trade of the two accounted for 92.6 percent of the city's total.

Among them, private enterprises were the prime contributors, taking up 67.5 percent of the total import and export volume of Ningbo from January to October, 2.5 percentage points higher than the same period last year.

Notably, despite strained Sino-US trade relations, the city still maintained stable growth in trade with EU, ASEAN, Japan, and countries involved in the Belt and Road Initiative.