Rugao works to ensure stable foreign trade
Workers pack goods at a foreign trade company in Rugao, Nantong. [Photo/WeChat account: rugaofabu]
The Rugao government has been working to help local foreign trade companies weather the impact by the COVID-19 outbreak since early this year, local media reported.
The city has for many years depended heavily on foreign trade. In 2019, the total export of companies with annual revenues of 20 million yuan ($2.9 million) and above was valued at 20.39 billion yuan, with the foreign trade dependence ratio rising to 12.39 percent.
As such, the local government has rolled out efforts to upgrade the development mode of foreign trade, optimize the city's import-export structure, and enhance the competitiveness of local foreign trade companies.
The local commerce bureau has also improved their services and visited local foreign trade companies to promote related preferential policies and learn about their needs.
In addition, companies have been encouraged to hold live stream promotions and take part in various online fairs to explore the overseas markets.
A total of 23 Rugao companies took part in the 127th China Import and Export Fair in June and inked 251 orders worth $3.5 million.
Bestway (Nantong) Recreation Co, a leading recreating equipment manufacturer, reported 500,000 new overseas clients this year and an export volume of 2.24 billion yuan from January to August.