Clothes produced by Jinhua Runsheng International Trade Co are on display. [Photo/Tide News]
At Jinhua Runsheng International Trade Co, which is based in the Jinhua Economic and Technological Development Zone of Jinhua in Zhejiang province, an array of clothing, hats, and scarves is on display.
Chairman Hong Hong mentioned that the company had established a 40,000-square-meter warehouse in Nigeria and introduced new energy products like electric bicycles this year. Its brand "YOU&ME" has already enjoyed popularity in Africa.
This snapshot reflects the flourishing foreign trade in Jinhua Economic and Technological Development Zone. Leveraging the strengths of the private sector, the zone has nurtured export entities and encouraged export brand creation to facilitate the foreign trade growth of private companies.
Collaborations with platforms like Amazon and AliExpress have encouraged traditional foreign trade firms to pivot toward cross-border e-commerce.
Hanzao Trading Co has been working on transformation and innovation to serve global clients. "Previously we only acted as a middleman for factories and customers, responsible for product circulation and earning limited profits," said Chairman Lin Wenbi.
In recent years, the company broke with the traditional foreign trade mode to participate in production supervision and product development, which has accelerated product launches.
"We currently have over 400 supplier partnerships, including 50 with amounts exceeding 10 million yuan ($1.37 million)," Lin added.
Government support has been key in this accelerated globalization. The zone has held foreign trade training sessions and tailored services such as policy guidance, overseas investment, and risk prevention for enterprises.
From January to February this year, the zone generated imports and exports worth 2.274 billion yuan, a year-on-year increase of 26.05 percent, with exports up 19.36 percent to 1.997 billion yuan and imports up 111.42 percent to 277 million yuan.
