Ningbo's trade volume with CEECs tops 50b yuan in 2023

chinadaily.com.cn| Updated:  January 31, 2024 L M S


Ningbo Customs officers inspect commodities imported from Central and Eastern European countries. [Photo/cnnb.com.cn]

Ningbo achieved a significant milestone in its trade relations with Central and Eastern European countries (CEECs) in 2023, as reported by Ningbo Customs.

Bilateral trade volume surged to a historic high of 50.47 billion yuan ($7.03 billion), surpassing the 50 billion yuan mark for the first time and reflecting a 12 percent year-on-year increase.

Breaking down the figures, imports topped 13 billion yuan, an increase of 20 percent year-on-year, while exports were valued at 37 billion yuan, rising by 9.4 percent compared with the previous year.

During this period, the primary import from CEECs was automobiles, constituting over 50 percent of the total imports. Ningbo imported automobiles, including chassis, worth 7.09 billion yuan from these countries in 2023, reflecting a significant 36.5 percent year-on-year increase.

Ling Shiquan, president of Zhejiang Jirun Meishan Automotive Parts Co Ltd, expressed optimism about the mature automotive industry foundation in CEECs, emphasizing the substantial potential for cooperation. Ling also praised the efficient customs procedures established by local authorities for importing auto parts from the CEEC region, which significantly contributed to reducing production costs for the company.

On the export front, solar panels emerged as the leading export item, with Ningbo exporting solar panels worth 1.54 billion yuan to CEECs in the past year. Risen Energy Co Ltd accounted for 1.1 billion yuan of these exports.

Bian Zhigang, head of logistics at Risen Energy, highlighted their focus on exporting solar panel components and their successful completion of multiple photovoltaic power station projects in CEECs. He also emphasized their commitment to leveraging their advantages to assist customers in achieving their low-carbon or zero-carbon goals in the upcoming year. 

Ningbo is home to the China-CEEC Economic and Trade Cooperation Demonstration Zone, the only one of its kind in the nation. Since its establishment in 2018, the city has recorded 209.47 billion yuan in trade value with CEECs, with imports demonstrating an average annual growth rate of 38.3 percent, according to official statistics.