Latest figures from the customs authorities in East China’s Zhejiang province show that the province’s imports and exports were up 19.5 percent year-on-year in the first seven months of 2022, and its growth contribution rate was the highest in the country. Zhejiang has recorded positive growth in imports and exports for 29 consecutive months, since March 2020.

On Aug 28, a business charter plane flew from Seoul, South Korea to Hangzhou to pick up 163 South Korean merchants. It is the third charter plane organized by Yiwu for international buyers this year.

A business charter plane flies from Seoul, South Korea to Hangzhou, picking up 163 South Korean merchants on Aug 28, 2022. [Photo/Zhejiang Daily]

According to statistics, the previous four business charter flights from Ningbo brought back orders exceeding $800 million in value. Over the past few months, Zhejiang has formed a complete business charter workflow which is being promoted nationwide. In the near future, more than 10 charter flights will depart from Jiaxing, Yiwu and other places in Zhejiang.

This summer, the first overseas submarket of Yiwu market – Dubai Yiwu China Commodity City, was officially put into operation. Overseas buyers who were unable to reach Yiwu due to the epidemic were to view and order products at their doorstep. The market, which has a customer base of nearly 1 billion people in the Middle East, North Africa, Europe and other places, will bring more business opportunities to Zhejiang’s foreign trade.

In addition to arranging chartered business flights and organizing overseas trade exhibitions, authorities in Zhejiang have launched an action plan for the cultivation of foreign trade entities, and aim to have an additional 20,000 companies with foreign trade achievements by the end of 2025.