According to statistics released by Kunshan Customs on Jan. 21, Kunshan saw its annual foreign trade volume exceed 800 billion yuan for the first time in 2024. The city’s imports and exports reached 814.7 billion yuan, an increase of 7% over the same period last year (similarly hereinafter), 2 percentage points higher than that of the country, accounting for 14.5% of the province’s total. The import and export volume, the export volume and the import volume all hit a record high.
Last year, Kunshan’s trade with the ASEAN, South Korea and Japan were 115.51, 70.06, and 63.72 billion yuan, up by 16.1%, 25.6% and 6.2%, respectively. At the same time, it strengthened economic and trade cooperation with countries in jointly building the Belt and Road. Its trade with Belt and Road partner countries reached 268.33 billion yuan, an increase of 15.3%, 8.3 percentage points higher than that of the city, which generated 4.7 percentage points of growth for the city’s foreign trade.
The import-export value of private enterprises and foreign-funded enterprises in Kunshan has maintained a growth trend. Last year, the foreign trade volume of foreign-funded enterprises reached 455.8 billion yuan, an increase of 7.2%, accounting for 55.9% of the city’s total (0.1 percentage points higher than the same period last year). Meanwhile, the total import-export value of private enterprises was 356.98 billion yuan, up by 6.9%, accounting for 43.8% of the city’s total, which contributed 3 percentage points to the city’s overall import and export growth. And imports and exports of state-owned enterprises grew by 7.1% to 1.92 billion yuan.
Last year, the exports of mechanical and electrical products accounted for more than 90% of the city’s total. Among them, the exports of printed circuits, audio and video equipment and components, and auto parts were 15.18, 12.55, and 10.74 billion yuan, up by 31.1%, 58.4% and 0.5% respectively. In addition, the city saw a sustainable growth of major imported products. The imports of mechanical and electrical products accounted for 8.5% of the city’s total import value. And in 2024, Kunshan imported coffee beans valued at 1.63 billion yuan, seeing a year-on-year increase of 46%, accounting for 53.8% of its total imports of agricultural products.
