HANGZHOU: East China's Zhejiang Province topped the nation's eastern coastal area in terms of foreign trade growth last year, Zhong Shan, general director of Zhejiang Commission of Foreign Trade and Economic Co-operation, said.
Customs statistics indicated that last year, Zhejiang's total foreign trade volume reached US$18.3 billion, an increase of 23.24 per cent over the previous year. Exports increased by 18.5 per cent to US$12.87 billion.
General trade registered an increase of 22.1 per cent to reach more than US$10 billion, leading the whole country.
Last year, Zhejiang approved 1,113 foreign-funded enterprises with a total contracted investment of US$2.15 billion, 148 more than in the year before.
Total actual foreign direct investment in Zhejiang amounted to US$1.53 billion, up 16.3 per cent over the previous year.
Foreign economic and technological co-operation also witnessed a steady expansion over the past year.
Zhejiang Province earned a total of US$338 million in international labour co-operation.
According to statistics from Zhejiang Commission of Foreign Trade and Economic Co-operation, 79 projects involving a total investment of US$26.78 million were given permission by the province to operate overseas last year.
Exports to the United States rose by 18.4 per cent, exports to the European Union were up 15.9 per cent and exports to Japan increased by 23.5 per cent.
Foreign-funded enterprises remained the province's major exporters. The total export volume of foreign-funded enterprises surged 24 per cent to reach US$3.32 billion, making up more than a quarter of the province's exports.
Small and medium-sized enterprises, private ones in particular, were given special support in tapping overseas markets.
Last year, a total of 869 enterprises were given permission to conduct foreign trade independently, doubling the number of the year before.
Collectively owned private enterprises emerged as a rising force in foreign trade. They realized a total export volume of US$1.58 billion last year, up 64.6 per cent over the year before.
Imports rose by 36.3 per cent over the year before, bringing in US$5.43 billion. Imports included advanced equipment and machinery parts.
At the '99 Zhejiang Trade and Investment Talks last June in Ningbo, 360 projects with a total contracted investment of US$2.09 billion were agreed upon, which has helped greatly to attract foreign investment to the province.
The 2000 Zhejiang Trade and Investment Talks will be held this June, officials with the commission said.
(China Daily)
