Jinhua in Zhejiang province achieved a record-breaking foreign trade volume in 2024, totaling 879.49 billion yuan ($120.84 billion), marking a 14.3 percent year-on-year increase and seeing the fastest growth within the province, according to Jinhua Customs on Jan 17.
The exports reached 771.92 billion yuan with a robust 16.4 percent increase, accounting for 19.8 percent of the province's total.
This remarkable growth in trade volume is underpinned by an enhancement in product quality.
The Zhouli Industry Co in Jinhua, which transitioned from producing traditional gasoline-powered snow blowers to lithium battery-powered models in 2023, won high praise from overseas customers for more environmentally friendly and cost-effective products. Its export earnings nearly reached 3 billion yuan last year, marking a 10.3 percent growth.
Jinhua's traditional industries have become significantly more competitive following recent improvements. Data indicates that Jinhua's exports of machinery and electrical products and labor-intensive goods outpaced the provincial average growth rates, up 14.4 percent and 20.1 percent, respectively.
Moreover, Jinhua Customs has introduced a targeted assistance mechanism for innovative export enterprises to improve their access to global markets. By offering tailored solutions and streamlining customs procedures, the initiatives have helped reduce costs and enhance competitiveness for these enterprises.
The city's efforts to diversify its market reach have yielded positive results, with stable growth in key markets and a successful expansion into emerging markets. Notably, exports to the United States surpassed 100 billion yuan for the first time, and the source of imports expanded from 173 countries and regions in 2023 to 182 last year.
