Companies in pilot program report 388% of foreign trade growth

2020-05-21 17:14:00

Despite the impact of coronavirus outbreak, Siliconware Technology (Suzhou) has achieved a robust growth to increase the daily output value to 13 million yuan and already take orders scheduled until the end of the year.

Behind the booming development is the new measures taken by the Suzhou area of the China (Jiangsu) Pilot Free Trade Zone to tide over the difficulties and also facilitate foreign trade. Since January, the city has launched a pilot program for streamlined, coordinated working mechanism to assist companies in IC sector, high-end manufacturing and correlated fields.

The company’s general manager said the improved logistics operation cut the time from 3 days on average to just 2 hours. This greater efficiency has helped the company to counter the impact of the pandemic, and also boosted the concurrent growth of two related companies - King Long Technology (Suzhou), a subsidiary of King Yuan Electronics, and Unimicron Technology (Suzhou).

Data showed due to the pandemic, imports by companies in Suzhou Industrial Park from January to April dropped 0.8 percent year on year. But three enterprises that have benefited from the pilot reform saw their foreign trade reach 4.9 billion yuan, up 388 percent. Buoyed by the new measures, the three companies all decided to increase investment and expand production in the industrial park this year.