On October 18, a report from Beijing revealed some impressive statistics from the Nanjing Customs Office regarding the foreign trade performance of the Yangtze River Economic Belt. In the first three quarters of this year, the total import and export value of the 11 provinces and cities along the Yangtze reached 14.61 trillion yuan, setting a record high for the same period and accounting for 45.2% of the nation’s total trade.

When looking specifically at Jiangsu Province, the figures are equally striking. The province recorded a foreign trade volume of 4.12 trillion yuan, marking a 7.7% increase and representing 28.2% of the total foreign trade in the Yangtze River Economic Belt, making it the leader in the region.

In an interview, Zhang Xin, the Deputy Director of the Statistical Analysis Division at Nanjing Customs, shared insights into the trends shaping this growth. “The foreign trade development in the Yangtze River Economic Belt is characterized by several key features,” Zhang noted. “Firstly, we see an optimization in the export product structure. There’s been rapid growth in exports of integrated circuits and automobiles, while traditional strongholds like ships and home appliances are transitioning to higher value-added products, ensuring steady export growth.”

Zhang emphasized the significant role of private enterprises, which account for nearly half of the foreign trade landscape, particularly in the consumer electronics sector. Foreign-invested firms have also maintained a strong foothold in the computer and communications industries. Additionally, there has been a noticeable increase in the export share of domestic brands, with substantial growth seen in emerging markets such as BRICS countries and ASEAN.

Furthermore, the data indicates that in the first three quarters, the Yangtze River Economic Belt’s trade with countries involved in the Belt and Road Initiative reached 6.62 trillion yuan, reflecting a 4.9% increase and constituting 43.5% of the national total. Trade with other members of the Regional Comprehensive Economic Partnership (RCEP) also saw a positive trend, amounting to 4.48 trillion yuan, a rise of 1.9% and representing 46.5% of the national total.

This analysis highlights how high-tech products have become a crucial engine of growth for foreign trade in the Yangtze River Economic Belt, with the region’s high-tech imports and exports hitting 4.1 trillion yuan and increasing by 7.7%, accounting for 48.6% of the national total for the same period.