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

As of Nov 25, companies at Shaoxing's China Textile City have exported products worth 12.3 billion yuan ($1.93 billion) via a market procurement trade mode, according to Shaoxing customs on Dec 3.

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 customs clearance procedures at the point of purchase.

The trade mode started operations in China Textile City on Nov 25, 2020, and has helped export the city's textile, electronic, and plastic products to 147 countries and regions, according to local customs authorities.

Since introducing the trade mode, the local government has organized more than 10 training sessions on it for representatives of about 900 companies.