Foreign trade in China's Jiangsu rises for 5 consecutive months

This aerial photo taken on March 13, 2023 shows automobiles at a terminal of Taicang Port, east China's Jiangsu Province. (Xinhua/Li Bo)

NANJING, Oct. 31 (Xinhua) -- Jiangsu Province's imports and exports saw growth for five consecutive months, backed by the swift recovery of the private sector, customs data showed.

Jiangsu's foreign trade reached 3.83 trillion yuan (about 533.5 billion U.S. dollars) in the first three quarters of this year. Of the total volume, exports constituted 2.46 trillion yuan while imports represented 1.37 trillion yuan.

Private enterprises have become an important accelerator for the province's foreign trade growth. In the first three quarters, private enterprises in Jiangsu saw a year-on-year growth of 4.2 percent in foreign trade to 1.68 trillion yuan, occupying a 43.9 percent share of the province's total.

Jiangsu has in recent years accelerated the development of three emerging industries, namely, new energy vehicles (NEVs), solar cells and lithium batteries, injecting strong momentum into the province's economic growth.

Jiangsu's trade with its five major partners, the European Union, the Association of Southeast Asian Nations, the United States, the Republic of Korea and Japan, accounted for over 60 percent of its total foreign trade. Meanwhile, its trade share with Belt and Road partner countries has continued to rise this year.