Ningbo's foreign trade hits 843b yuan in Jan-July

The operations site at the Ningbo-Zhoushan Port's Chuanshan Port Area. [Photo by Wu Mengkai/Tide News]

Ningbo's foreign trade hit 843 billion yuan ($117.25 billion) from January to July, up 4.6 percent year-on-year — a record for the period. Exports rose 8.3 percent to 571.9 billion yuan, while imports fell 2.4 percent to 271 billion yuan, according to Ningbo Customs.

Private enterprises led the charge, contributing 652.99 billion yuan in foreign trade and accounting for 77.5 percent of the city's total. Their exports grew 9.6 percent to 471.53 billion yuan, with imports rising 1.3 percent.

Ningbo's export mix is shifting toward high-tech and green products. High-tech exports totaled 39.38 billion yuan, up 14.3 percent, including strong growth in computer and communication technologies and electronic technologies.

Green products — electric vehicles, lithium batteries and photovoltaic products — reached 18.12 billion yuan in exports, a surge of 47.6 percent.

Local companies are embracing sustainable innovation. One example was Ningbo Eastar Game Manufacturing, which saw its July exports jump 38 percent year-on-year, with United States' sales up 65 percent, thanks to eco-friendly materials and custom designs.

Trade with major global partners also expanded, with year-on-year increases for the European Union up by 9 percent, ASEAN by 17.9 percent, Japan by 7.1 percent and South Korea up by 21.1 percent. Trade with countries involved in the Belt and Road initiative rose 11.6 percent.

Imports of key industrial materials — copper, organic chemicals and rubber — also climbed, supported by Ningbo's ongoing industrial upgrade.