Jiangyin Port in Wuxi. [Photo/Wuxi Daily]
The foreign trade growth of Wuxi in East China's Jiangsu province turned from negative to positive in April, statistics from Wuxi Customs showed.
In the first four months of this year, the city's foreign trade experienced a 3.6 percent year-on-year decrease to 214.92 billion yuan ($30.31 billion), while in April alone, it expanded by 7.2 percent from last year.
Statistics showed that due to changes in the energy supply structure of Europe, the new energy industry saw strong demand. As a result, the export of lithium batteries from Wuxi increased 123 percent from last year and that of solar cells climbed 25.3 percent year-on-year.
More of Wuxi's trade partners were emerging market economies in April this year. In addition to the city's two long-term major trade partners – the EU and ASEAN – members of the RCEP and countries involved in the Belt and Road Initiative were also strong contributors to the growth of the city's foreign trade in April.
Wuxi's trade with the EU, countries involved in the BRI, ASEAN, and RCEP members saw year-on-year increases of 35.4 percent, 22.6 percent, 5 percent, and 3.3 percent, respectively.
Wu Hongying, vice-general manager of Yixing City Wenhui Stationery Co Ltd, said that Wenhui's products used to be exported the United States, South America, and the EU and this year, the company received orders from Kuwait and Saudi Arabia.
This year, Wuxi authorities have taken measures to stabilize foreign trade, which has gradually restored the confidence of local foreign trade companies.