Taizhou has reported impressive growth in foreign trade from January to November, achieving the highest growth rate in Jiangsu province.
According to Taizhou Customs, the city's total foreign trade value reached 152.54 billion yuan ($20.9 billion), reflecting a 25.1 percent year-on-year increase and surpassing the provincial average growth rate by 18.2 percentage points. Exports accounted for 110.36 billion yuan, up 28.7 percent, while imports rose by 16.7 percent to 42.18 billion yuan.
This growth can be attributed to a range of measures implemented by Taizhou Customs, including streamlining import-export clearance processes, providing cost-reduction policy packages for enterprises, and establishing open platforms. These initiatives have created a top-tier business environment at local ports, facilitating high-quality growth in foreign trade.
Notably, Taizhou's trade with emerging markets has surged. Trade with countries involved in the Belt and Road Initiative totaled 89.7 billion yuan, up 31.6 percent. Among these, trade with ASEAN countries and South Korea saw significant increases of 43.7 percent and 22.2 percent, respectively, reaching 23.12 billion yuan and 12.96 billion yuan.
As of Oct 30, the Xinghua Port has achieved a container throughput of 40,000 TEUs, demonstrating robust business growth and further contributing to Taizhou's thriving foreign trade landscape.