Tongzhou district's foreign trade sees stable recovery
Due to the COVID-19 pandemic, the import and export trade in Tongzhou district, Nantong was hit hard in the first half of 2020, but with government's supporting policies and measures, it has stably recovered.
From January to June the import and export volume in Tongzhou district totaled 10.25 billion yuan ($1.5 billion), a decrease of 6.8 percent over the same period last year.
To cope with the effects created by the pandemic, the relevant departments in the district carried out investigation and issued policies to stabilize foreign trade, accelerated utilization of foreign trade supporting funds and strengthened services for related enterprises.
By the end of June 2020, the 2019 provincial and municipal special funds for business development had all been allocated and supporting funds for high-quality foreign trade development in Tongzhou district were also fully deployed.
In the first half of 2020, 261 micro and small-sized foreign trade enterprises received various kinds of awards and funds totaling 17 million yuan. With cash flow increasing, the enterprises have greater power for sustainable development.
In a severe foreign trade situation, a "stay-at-home economy" booms. Toys, gaming and sports goods gained popularity. The export volume still rose 5.7 percent to a value of 170 million yuan.
At present, the district is accelerating promotion of new formats for foreign trade development. Pilot work for cross-border e-commerce B2B (business-to-business) exports has been officially launched.