Ningbo's foreign trade breaks record in Jan-April

The Chuanshan Port Area of Ningbo-Zhoushan Port. [Photo/tidenews.com.cn]

Foreign trade conducted by Ningbo in East China's Zhejiang province, broke the record in the January to April period, generating imports and exports worth a combined 472.45 billion yuan ($65.48 billion) — an 8.2 percent increase year-on-year.

Private companies played a key role, accounting for 77.4 percent of total foreign trade, an increase of 2.8 percentage points compared with last year. Their imports and exports were worth a massive 365.44 billion yuan, growing 12.3 percent.

One of those doing well was Junhe Pumps Co Ltd, a leading household water pump manufacturer, which reported export sales of 207 million yuan, up 1.47 percent. The company has focused on innovation, enhancing its performance while reducing its energy consumption.

In the first four months, trade with the three biggest trading partners — the European Union, the US and ASEAN — reached 81.42 billion yuan, 73.61 billion yuan, and 67.24 billion yuan, respectively, with ASEAN trade alone growing by a hefty 20.7 percent.

Elsewhere, trade with countries involved in the Belt and Road Initiative leaped by 14.2 percent during the period. Meanwhile, exports to Africa soared by 28.1 percent, while trade with Central and Eastern European countries climbed 13.8 percent.

The city's electromechanical exports rose 18.6 percent to 188.25 billion yuan, accounting for 58.6 percent of total exports. Rounding off the stellar performance, automobile and container exports grew by 40 percent and 82.3 percent, respectively.