Nov 23, 2023

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Orders have been lined up until the end of the year, in addition to Europe and the United States, Africa, Southeast Asia, the Middle East and other emerging markets for photovoltaic and energy storage and other new energy demand began to rise." Chai Xiaohui, deputy director of Oriental Sunrise Securities Department, told the Shanghai Securities News. This is the microcosm of the Yangtze River Delta manufacturing enterprises' export recovery. The reporter recently visited and found that the new momentum of foreign trade in the Yangtze River Delta is strong. Statistics show that in the first three quarters, the total import and export volume of the three provinces and one city in the Yangtze River Delta reached 11.3 trillion yuan. Among them, the import and export of Shanghai, Zhejiang and Anhui increased by 2.7%, 5.0% and 6.1% respectively, higher than the national average. The scale of Jiangsu's foreign trade has increased for 5 consecutive months, showing a continuous recovery trend.

On November 15, Anhui Huasheng New Energy Technology Co., Ltd. in the factory, workers are testing a number of panels, the machine in the plant is running at high speed, a piece of solar panel assembly off the line. The person in charge of the plant told reporters that through continuous research and development investment, the company's product competitiveness continues to improve, the third quarter orders pick up significantly, overseas market shipments of about 230 megawatts, an increase of about 85%, a record high. It is not only the new energy industry that is feeling the rebound in foreign trade. The reporter learned during the visit that under the challenging domestic and foreign market environment, more and more manufacturing enterprises in the Yangtze River Delta have shown great resilience and vitality, and the import and export situation has continued to improve.

In the first three quarters, Jiangsu and Zhejiang ranked among the top three in the national export trade list. Among them, Zhejiang's foreign trade has strong resilience and outstanding achievements, especially in the third quarter, Zhejiang's import and export, export and import scale have reached a record quarterly high, increasing by 3.7%, 2.2% and 8.0% respectively. In the first three quarters of positive growth of 17 cities, Zhejiang Province accounted for 7 seats, of which Jinhua, Shaoxing, Zhoushan import and export growth rate of 15.9%, 15.3%, 7.7%, ranked second, third, fourth; Hangzhou, Jiaxing, Wenzhou and Taizhou also reached 3.3%, 1.9%, 1.7% and 1.2%, respectively. According to Nanjing Customs statistics, in the first three quarters, Jiangsu's foreign trade imports and exports were 3.83 trillion yuan, down 6.5% year-on-year, but the decline was 0.7 percentage points narrower than in the previous eight months. From the sequential point of view, it can be seen that positive factors are accumulating: in September, Jiangsu's foreign trade imports and exports 468.13 billion yuan, the year-on-year decline narrowed to 1.1%, an increase of 5.1%, Jiangsu's foreign trade imports and exports for five consecutive months of month-on-month growth, showing a bottoming trend. Among them, private enterprises, the "new three types", and the construction of emerging markets under the "Belt and Road" initiative took the lead in "good" on the basis of "stability".

Anhui foreign trade data also show bright. According to Hefei Customs data, in the first three quarters of this year, Anhui's total import and export value of goods trade was 596.02 billion yuan, an increase of 6.1% year-on-year. Of this total, the export was 391.21 billion yuan, up by 12.1%; Imports were 204.81 billion yuan, down 3.7 percent. The growth rate of import and export was 6.3 percentage points and 11.5 percentage points higher than that of the whole country. Shanghai's foreign trade figures are also doing well. In the first three quarters of this year, Shanghai's import and export value reached a record high of 3.17 trillion yuan, up 2.7 percent year-on-year, according to Shanghai Customs statistics. Of this total, the export was 1.3 trillion yuan, up by 3.9%; Imports reached 1.87 trillion yuan, an increase of 1.8%.

The reporter learned in the interview that under the severe export situation, some traditional export processing industries with low added value are facing the status quo of order loss, and the situation of some small and medium-sized enterprises is not optimistic. In contrast, high-quality enterprises with brands, core technologies, and the right to speak in the global market segments are the base for the growth of foreign trade in the Yangtze River Delta. As an old manufacturing enterprise, Ningshui Group not only accelerated the technology iteration, but also took the lead in breaking through the 1.0, 2.0 and 3.0 product upgrades from traditional mechanical watches to smart water meters. At the same time, the Group is also committed to digital reform, transforming from a traditional manufacturing industry to a smart water solutions provider, and has now served nearly 1,500 water supply units with access to more than 6 million water meter terminals. "The polarization of export products is accelerating, and some low-end, highly fungible products will be gradually eliminated in international competition." Ningshui Group director secretary Ma Serong said. Sun Chuanwang, a professor at the School of Economics at Xiamen University, said that despite the recent pick-up in foreign trade, in the long run, Chinese companies still face challenges such as a weak global economy, intensifying international competition and shifting supply chains. Only by continuing to build the core competitiveness of the brand will there be pricing power and resilience beyond the economic cycle.

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