China's Yangtze River Delta region has registered robust foreign trade this year, featuring a competitive high-end manufacturing sector and diversified trading partners in the global market.
From January to November, the total value of imports and exports of the region amounted to 14.56 trillion yuan (about 2 trillion U.S. dollars), marking a five-percent year-on-year increase and accounting for 36.6 percent of the national total, according to customs data.
The export of high-end equipment in the region reached 228.45 billion yuan in the 11 months, an increase of 53.3 percent year on year.
Customs officers said the export growth was driven by the full-fledged industrial chain and transport network in the region, which have effectively helped companies cut costs in production and logistics.
"The Yangtze River Delta region has established multiple mature equipment manufacturing industrial clusters covering new energy vehicles, new marine equipment, and the low-altitude economy. The full-fledged industrial chain has helped companies lower their production costs, while the well-developed land, sea, and air transport network has helped to cut their logistics costs a lot. All these have significantly boosted the transport efficiency and global competitiveness of their products," said Feng Chunming, head of the statistics and analysis division of Hangzhou Customs.
The trade growth can also be partly attributable to a growing number of overseas partners, especially emerging markets like ASEAN, Latin America and Africa, all posting rising demand for integrated circuits and new energy vehicles.
In the first 11 months, the Yangtze River Delta region's imports and exports to ASEAN, Latin America and Africa grew by 7.4 percent, 6.9 percent, and 9.4 percent year on year, respectively.
High-end manufacturing, diversified partners drive foreign trade in Yangtze River Delta
