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Wenzhou’s International Trade experiences V-Shaped Recovery
Date:2020-07-30 08:06:22 Source:Wenzhou·China Fonts:[ Large Medium Small ]

Two days ago, a vessel belonging to SITC International Holdings Co., Ltd container liner shipping finished 100 standard containers depot before leaving Port of Zhuangyuan’ao (CNZYO), marking the beginning of another new International shipping logistics route called Wenzhou-Indonesia for the acceleration of opening maritime routes in Wenzhou.

It is learned from Wenzhou Bureau of Commerce that the first half of this year sees V-shaped recovery of Wenzhou International trade although the global epidemic situation is still grim and complex. From January to June, the total imports and exports value reached 87.746 billion yuan, with an increase of 11.23% year on year. Among these, the export reached 75.488 billion yuan, with an increase of 11.78% year on year, and the import reached 12.258 billion yuan, with an increase of 7.96% year on year. The total cross border E-commerce retail exports amounted to 4.2 billion yuan, with an increase of 25.1% year on year. Although the imports and exports were lower than that in the last quarter, down 1.8% year on year, they experienced V-shaped recovery in the first half year.

An insider from Wenzhou Bureau of Commerce analyzed the foreign trade of Wenzhou achieved V-shaped recovery because Wenzhou vigorously promoted the construction of each key opening platforms, which had triggered many new mode of foreign trade including market procurement trade mode that played an important role for further growth of foreign trade.

During the first half of this year, Wenzhou began platform construction projects rapidly, which were Cross-border E-commerce Integrated Pilot Zone, Pilot Free Trade Zone and Interacted Innovation Zone, Comprehensive Bonded Zone, as well as Chinese Merchant Integrated pilot Zone. First, Cross-border E-commerce Integrated Pilot Zone opened the bonded import of first order No.1210. Second, the Pilot Free Trade Zone and Interacted Innovation Zone had printed overall plan and construction implementation plan. By making annual task list and carrying district construction, it had formed “1+X” Interacted Innovation Zone Implementation plan and working mechanism. Third, Comprehensive Bonded Zone had completed the first stage construction project by making pile foundation for exit inspection warehouse, checkpoint, inspection area and administrative checkpoint. Forth, Chinese Merchant Integrated pilot Zone had made planning construction for 65 key projects, 38 of which were over 1-billion-yuan investment. At present, 20 of them have been completed, 29 have been started and 16 have been implemented in the early stage.

With the help of these key open platforms, Wenzhou's existing foreign trade ways come with a new opportunity for development. After the opening of bonded import business in Cross-border E-commerce Integrated Pilot Zone, a linkage effect has been formed with the mode of market purchase trade. A series of data show that this new foreign trade way plays an increasingly prominent role in driving the growth of Wenzhou's foreign trade.

On the third day only after the birth of the bonded import of first order in  Cross-border E-commerce Integrated Pilot Zone , on 22th June, Lucheng District combining market purchase trade with the pilot policy of Cross-border E-commerce Integrated Pilot Zone, made an order for welding masks and glasses worth more than $80,000 for Wenzhou Jinyao Supply Chain Management Co. LTD which is local cross-border e-commerce platform enterprise,at Wenzhou port customs declaration via No.1039 way, successful shipping exports to the overseas warehouse of the United States, providing stock for overseas cross-border retail. Thus, Wenzhou officially opened market purchase and export from overseas warehouses, realizing the new mode of "market purchase and cross-border e-commerce overseas warehouses". From January to June, the sum of Wenzhou's market purchase trade exports reached $2.08,a year-on-year increase of 1.6 times. Except Lucheng District, the sum of market purchase trade exports in all districts reached $860 million, accounting for 41.7% of the total. The trial of market purchase trade mode achieved a high level of linkage across the whole region.

In addition, an official from Wenzhou Bureau of Commerce said that in the first half of this year, under the dual pressure of the deterioration of international trade environment and the epidemic situation, Wenzhou strengthened efforts to stabilize foreign trade through policy guidance, financial support, special assistance and other measures, and also played a certain role in the growth of foreign trade against the trend.

In the first half of this year, Wenzhou Bureau of Commerce actively organized foreign trade enterprises to participate in various online exhibitions, among which 616 Wenzhou enterprises participated in the 127th Online Canton Fair and received orders worth $79.09 million. Wenzhou Bureau of Commerce has done its best to help Wenzhou enterprises who produce epidemic prevention and control supplies to obtain export quality certification of epidemic prevention and control supplies. A total of 49 enterprises in Wenzhou were included in the "White List" of epidemic prevention and control supplies export by the Ministry of Commerce. Wenzhou Bureau of Commerce continued to increase financial assistance to enterprises and signed strategic cooperation agreements with five banks, providing foreign trade enterprises with credit lines for 20 billion yuan.

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