- ASEAN and Africa drove more than 70% of trade growth in first four months
- Electric vehicles and other green products posted sharp gains
Zhejiang posted record trade volumes in the first four months of the year, as strong exports of machinery, high-tech goods and green energy products helped power growth despite broader uncertainty in global demand.
Total imports and exports for the eastern Chinese province reached 1.86 trillion yuan ($274 billion) from January through April, up 6.7% year-on-year, according to data released by Hangzhou Customs.
Exports rose 6.5% to 1.40 trillion yuan, while imports climbed 7.4% to 468.12 billion yuan.
Exports of mechanical and electrical products — Zhejiang’s largest export category — rose 5.9% to 661.8 billion yuan, accounting for 47.4% of total outbound shipments and continuing to anchor the province’s trade growth.
High-tech exports climbed 19.1% to 134.6 billion yuan, contributing 1.6 percentage points to overall export growth. Shipments of specialized equipment and new materials rose 31.9% and 66.8%, respectively.
Trade with countries participating in China’s Belt and Road Initiative totaled 1.05 trillion yuan, accounting for 56.6% of Zhejiang’s total trade and rising 6.7% from a year earlier.
Trade with ASEAN countries jumped 26.4% to 327.9 billion yuan, while trade with Africa rose 16% to 155 billion yuan. Together, the two regions contributed more than 70% of Zhejiang’s overall trade growth during the period.
Exports of China’s so-called “New Three” green products — electric vehicles, lithium batteries and clean energy technologies — surged 53.7% to 59.9 billion yuan.
Electric vehicle exports jumped 85.9%, while lithium battery exports more than doubled. Exports of wind power equipment and renewable energy generators also posted strong gains.
