It was fruitful for Anhui province to participate in the first phase of the 123rd session of the Canton Fair, a spokesperson of the provincial Department of Commerce said on Wednesday, adding that the turnover of home appliance and car exports rose over 20 percent from last session.
The fair, also known as the China Import and Export Fair, is the country’s largest trade fair, considered a barometer of China’s foreign trade.
The first phase, which runs from April 15 to 19, features products including home appliances, electronics and hardware.
More than 200 Anhui-based participants recorded $1.05 billion in export value, up 10.10 percent year on year, data from the department showed.
The remarkable achievements were attributed to the province’s continuous efforts to open up and reform.
Anhui’s foreign trade volume reached $53.64 billion in 2017, up 20.80 percent from a year earlier.
In the first quarter of 2018 (Q1), the province saw a year-on-year increase of 35.20 percent in imports and exports. Exports stood at $7.65 billion, up 21.80 percent, while imports totaled $7.28 billion, up 52.70 percent.
The province keeps to innovation-driven development, continuously improves policies and speeds up the creation of a competitive edge with technology, standard, brands, quality and service as its cores.
Hi-tech exports made up 6.2 percent of the provincial total five years ago. The percentage has risen to 24.7 percent. The cross-border e-commerce sector has seen an average 30 percent rise in trade value over the past five years.
In Q1, hi-tech exports and electro-mechanical exports reached $2.21 billion and $4.57 billion, or 28.89 percent and 59.74 percent of the provincial total, up 58.5 percent and 28.4 percent, respectively. That suggests a growing trend that Anhui is shipping mid- and high-end products abroad.
The department said it will launch a slew of activities this year including training sessions on foreign trade policies and operations, as part of its efforts to increase local companies’ global competitiveness.