A view of Wuxi. [Photo provided to en.wuxi.gov.cn]
Foreign trade in Wuxi grew 30 percent year-on-year in the first eight months of this year, reaching 695.82 billion yuan ($98.23 billion).
This growth rate surpasses the provincial average by 2.5 percentage points, accounting for 14.3 percent of the province's total trade.
The 30 percent growth reflects a structural upgrade in products. The city exported 407.66 billion yuan worth of mechanical and electrical products, a 50.1 percent increase from the same period last year, accounting for nearly 80 percent of its total exports. Artificial intelligence-related hardware and components, including electronic parts, computer accessories, optical modules, and fiber optics, saw exports of 233.32 billion yuan, doubling from the previous year.
This impressive performance highlights Wuxi's strategic shift towards intelligent and innovative industries and a diversified market landscape.
Chen Ming, deputy director of Wuxi Customs, noted the city's push to become an "AI+" benchmark city, with explosive growth in AI hardware exports. The AI product export ecosystem spans core hardware, upstream materials like electronic-grade hydrofluoric acid and silicon carbide, and downstream equipment, primarily targeting global AI hubs.
Wuxi's foreign trade vitality is also evident in its expanding market presence. It has over 14,000 active trading companies, an increase of 1,027 from the previous year. Notably, its trade with ASEAN, South Korea, the European Union and countries and regions involved in the Belt and Road Initiative grew significantly, underscoring the resilience of regional markets.
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