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Wenzhou’s Total Foreign Trade Value Amounts to 61. 631 Billion Yuan in the First 6 Months
【Fonts: Large Medium Small 【Source: 温州市 【Date: 2017.07.25】

Recently, CHINT Group mapped out its new energy and advanced electrical industry in Czech, a country along the "Belt and Road”(B&R), to radiate to more than 30 countries in Europe, becoming the first Asia-Pacific brand of low-voltage electrical appliances in Europe. With the B&R in full swing, Wenzhou’s foreign trade with countries along the route catches people’s eyes.

On July 24th, the Municipal Bureau of Commerce released a report of the city's foreign trade work in the first half of this year : from Jan. to Jun., the city newly approved 30 foreign-funded enterprises, with a contracted foreign investment pf $1.545 billion, an increase of 879%, and an actually used foreign investment of $124 million, an increase of 208%; the total import and export reached 61.631 billion yuan, up 14.2%. Data show that the city's export is sustaining a steady growth and foreign trade is obviously picking up.

In the first half of the year, the city took constant measures to encourage foreign trade enterprises to explore the international market. The Municipal Bureau of Commerce adjusted the catalogue of key international exhibitions, organized enterprises to participate in such fairs as East China Fair, Canton Fair and CICGF, made elaborate preparations for its 5th Exhibition in Mumbai,Indiaand its 1st Exhibition inRussia, and designated 11 key municipal exhibitions in node cities along the route. Besides, it established marketing network, facilitating the cooperation among large international purchasers like Hongkong Li&Fung Group (Shanghai office) and Menards (Shanghai Office) to improve the export volume of foreign trade enterprises in Wenzhou. In the total import and export, foreign trade export accounted for 53.910 billion yuan, an increase of 12.9%.

At the same time, new breakthroughs have been made in the introduction of foreign capital in the city, and foreign capital utilization has shown rapid growth. In the first half of the year, the city completed 49.8% of the target set by the province for the actual use of foreign capital; among them, the actual use of foreign investment in June only topped $77. 270 million, up 601%, higher than the cumulative sum of the previous 5 months; 4 new foreign investment projects, each worth over $10 million, were introduced, including AB InBev beer project of over $30 million. The city is actively launching the docking with foreign capital through project promotions and other ways. At the "2017 Hongkong - Wenzhou Investment Cooperation Week" held early this month, 34 major investment cooperation projects of the city, with a total investment of 120 billion yuan, attracted the attention of business in Hongkong.

The latest data show that 688 thousand Wenzhouese do business in 131 countries and regions in the world, including 380 thousand in 57 countries along the route. That gives Wenzhou unparalleled  advantages on its journey to guide enterprises "go globally".

In terms of foreign investment, the first half of this year witnessed the city’s effort in promoting the strategy of overseas distribution of traditional manufacturing enterprises, and guiding local enterprises to speed up "going globally" through direct investment and cross-border mergers and acquisitions. For example, Zhejiang Zhi Wei Electronic Technology and Wenzhou Changjiang Automobile Electrical Appliances planned auto production capacity inBrazil. In addition, the city significantly increased its overseas project contracting business along the route. In the first 6 months, the turnover of foreign contracted projects stood at $25.480 million, up 225% over last year.


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