More than 1,000 enterprises with an annual import and export value of over $1 million have resumed operations in Ningbo, East China's Zhejiang province as of Feb 12. [Photo/cnnb.com.cn] 

More than 1,000 enterprises with an annual import and export value of over $1 million, accounting for 7.5 percent of the total foreign trade companies in the city, have resumed operations in Ningbo, East China's Zhejiang province as of Feb 12, local media reported.  

Within the past three days, Ningbo Customs examined and released 988 shipments of cargo for export. Paperboards worth 1.7 million yuan ($253,731) manufactured by Asia Pulp & Paper Co Ltd became the city's first foreign trade deal after the Spring Festival holiday, which was extended due to the nationwide outbreak of the novel coronavirus. 

Some enterprises forecasted that the scale of exports in the first quarter will shrink from the previous year as many foreign buyers won't place new orders until March due to the epidemic. 

The majority of companies which resumed work are above the designated size, however, most of the city's small and medium-sized enterprises haven't, said Kong Zehao, deputy general manager of Ningbo Shimaotong International Trade Co Ltd. 

Furthermore, supporting industries such as shipping and logistics have yet to be fully restored, which might affect the smooth operation of imports and exports. 

According to the statistics of Ningbo customs, from Jan 24 to Feb 11, a total of 81,000 containers have been stored in Meishan bonded port area of Ningbo, accounting for 76 percent of the total storage capacity of the port. 

In a bid to help local foreign trade enterprises, the Ningbo association of foreign trade enterprises has offered 300 free accounts to help enterprises develop online exhibition and trade business. 

The Ningbo council for the promotion of trade had issued 27 copies of force majeure certificates as of Feb 10, involving a contract amount of $118.090 million, to ensure the majority of foreign trade enterprises minimize losses during the outbreak.