(CFP Photo)

Jiangsu’s total imports and exports expanded 16.5% year on year to 3.75 trillion yuan in the first three quarters of 2021, accounting for 13.2% of China’s total, according to Nanjing Customs.

The exports reached 2.32 trillion yuan during the period, up 18.2%, and imports increased by 14% to hit 1.43 trillion yuan.

The province’s trade with major partners maintained a stable growth, especially an accelerated increase with countries in the Belt and Road Initiative. Trade with the EU, ASEAN, the United States, South Korea and Japan accounted for 61.3% of the province’s total.

Private enterprises continued to play an important role by achieving a foreign trade totaling 1.42 trillion yuan. Trade by foreign-invested companies and state-owned enterprises reached 2 trillion yuan, up 9.6%, and 335.18 billion yuan, 15.3%, respectively in the period.

Jiangsu exported 1.53 trillion yuan of mechanical and electrical products, an increase of 17.7%. Among them, the exports of integrated circuits, laptops, electrical equipment and solar cells reached 170.77 billion yuan, 129.24 billion yuan, 104.98 billion yuan and 45.39 billion yuan respectively, up 19.7%, 17.5%, 27.8% and 22.2%. Jiangsu also saw the exports of garments and steel climb up by 3.9% and 59.7% respectively to reach 113.08 billion yuan and 65.51 billion yuan.

Meanwhile, Jiangsu’s imports of mechanical and electrical products totaled 803.24 billion yuan, an increase of 9.1%. Among them, the imports of integrated circuits, auto parts and accessories, iron ore and natural gas was 323.19 billion yuan, 12.87 billion yuan, 96.56 billion yuan, and 20.47 billion yuan respectively, up 6.4%, 19.5%, 68.8% and 27.1%.