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Why Did Anhui's 'New Trio' Stand Out with a 55% Year-on-Year Growth?

Pub Date:24-11-19 16:19 Source:english.anhuinews.com

"In October, Anhui's 'New Trio' performed impressively in exports. Among them, lithium-ion batteries were exported worth 1.85 billion yuan, a year-on-year increase of 39.3%, accounting for 36.7% of the total export value of Anhui's 'New Trio' products; electric vehicles reached 1.8 billion yuan, growing 2.6 times and making up 35.7%; while photovoltaic products amounted to 1.38 billion yuan, a decline of 2.1%, accounting for 27.5%." On November 15, Wang Debao, director of the statistical analysis department of Hefei Customs, stated that in October, the exports of Anhui's "New Trio" products increased by 55% year-on-year.

In recent years, "Anhui manufacturing" has stood out with new technologies and products, particularly with the remarkable export growth of the "New Trio," represented by electric vehicles, lithium-ion batteries, and photovoltaic products.

According to Hefei Customs statistics, from January to October 2024, Anhui Province exported a total of 41.9 billion yuan worth of "New Trio" products, a growth of 23.8%.

From the perspective of export growth rates, Anhui's "New Trio" products have shown a fluctuating upward trend in monthly exports this year, with a significant increase to over 50% starting in the second half of the year, and a year-on-year growth of 55% in October. In terms of trade methods, Anhui's "New Trio" products are primarily exported through general trade, with processing trade surging year-on-year. In October, general trade exports reached 4.36 billion yuan, growing by 37.6% and accounting for 86.7%, while processing trade exports were 620 million yuan, skyrocketing 59 times, making up 12.3%. Regarding the trade entities, foreign-invested enterprises accounted for the largest share, followed by private enterprises. In October, foreign-invested enterprises exported 2.3 billion yuan, an increase of 1.2 times, accounting for 45.8%, while private enterprises exported 1.97 billion yuan, growing by 10.7%, accounting for 39.1%.

Customs data shows that in October this year, Anhui's exports of "New Trio" products to the EU and Belt and Road Initiative countries both saw significant growth. Specifically, exports to the EU reached 1.44 billion yuan, an increase of 57.9%; exports to Belt and Road Initiative countries were 1.77 billion yuan, a growth of 1.1 times.


Source: Anhui Daily

Editor:Zheng Chen

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