Changzhou's total volume of trade in goods reached 185.79 billion yuan during the first seven months of 2023, marking a slight decline of 1.2 percent compared to the same period last year, as reported by Changzhou Customs. Despite this, exports of goods managed to increase by 0.7 percent, reaching 146.25 billion yuan and securing a fourth-place ranking among the cities in Jiangsu province.

Notably, Changzhou's exports exhibited a growth rate 5.8 percentage points higher than the provincial average. This remarkable achievement is particularly impressive in light of the global demand downturn and our substantial economic footprint.

Exports of mechatronic products surged, largely driven by the automotive sector and its related products. Data highlights a 3.4 percent rise in mechatronic product exports, totaling 92 billion yuan, contributing to over 60 percent of the total export value. Noteworthy is the export values of electrical equipment, auto parts, and automobiles, which surged to 13.38 billion yuan, 5.85 billion yuan, and 2.94 billion yuan, showcasing growth rates of 23.3 percent, 16.3 percent, and an impressive 28-fold increase, respectively.

The achievements in industrial restructuring and transformation are commendable. The "new three" products, encompassing electric vehicles (EVs), lithium-ion batteries, and solar cells, saw an impressive 20.7 percent year-on-year surge in exports, with the cumulative export value amounting to 19.37 billion yuan. Remarkably, lithium-ion batteries and electric vehicles (EVs) have taken the lead in propelling export growth, showcasing remarkable surges of 64.3 percent and an astonishing 129.4 times, respectively.

As Changzhou's global network continued to expand, the trade volume between Changzhou and the EU, its leading trading partner, recorded a 5.8 percent increase during the first seven months of this year. Furthermore, trade with ASEAN and emerging economies along the Belt and Road Initiative (BRI) demonstrated growth rates of 1.2 percent and 7 percent respectively, contributing significantly to the overall growth trajectory.

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