According to date released by Foshan Customs on Feb. 2, in 2020 Foshan’s exports and imports have topped 500 billion yuan in value for the first time, reaching 506.03 billion yuan with an increase of 4.8% over the same period last year. The growth rate topped the list among nine major cities in the Pearl River Delta Area. The figure is also 2.9 percentage points higher than national foreign trade growth rate and 5.7 higher than that of Guangdong Province.
Data shows that in 2020, all five districts of Foshan achieved positive growth in imports and exports – the leading role of domestic trade continues to strengthen, while emerging trade forms gain development in strong momentum. For its domestic trades, Foshan has registered 309.95 billion yuan, accounting for 61.3%, 19.2% up from last year. It shows that Foshan now has created a stronger internal driver. Most popular products range from electrical appliances, to lightning and medical equipments.
For its international trade, the city is also becoming increasingly competitive as rapid progress can be seen in areas such as market procurement and cross-border e-commerce, which has largely lowered the bar for small and medium-sized enterprises in international trade. It helps encourages more enterprises to “go global” and expand market overseas. They are now recognized as a key engine for innovating the development modes of Foshan trade. Overall, Foshan has ensured its steady and stable growth in traditional markets like ASEAN, the US and the EU, which still take up the largest market shares. Countries and regions involved in the Belt and Road Initiative and RCEP are the new focus of market exploration.
Faced with a volatile and complicated international situation, private enterprises in Foshan has make breakthroughs in “stay-at-home” economy and anti-virus materials. By finding out new demands and new markets against the backdrop of the pandemic, private enterprises are expected to contribute a greater share to stable trade growth.
Author | Jersey
Photo | Foshan China