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China Textile City in Keqiao district, Shaoxing, East China's Zhejiang province. [Photo/zjol.com.cn]

As of Aug 2, the companies at Shaoxing's China Textile City have exported products worth $916 million via a market procurement trade mode, according to Shaoxing Customs on Aug 4.

The trade mode, which features quick customs clearance and value-added tax exemption, is one in which eligible business operators can buy goods with a single declaration value of up to $150,000 in market cluster areas recognized by commerce authorities and other agencies. The goods can also undergo clearance procedures at the point of purchase.

Officials said that the adoption of this new mode helps export the city's textile, electronic, and plastic products to 135 countries and regions.

Ever since China Textile City piloted the market procurement trade mode in December 2020, their shipments have experienced a notable increase, said a representative of Shaoxing Weijie Imports and Exports Company Limited, a company specializing in providing customs declaration services for market entities.