Nantong FTZ reports surging foreign trade in 2021

A sweeping view of the Nantong Economic & Technological Development Area, where the Nantong Free Trade Zone is located. [Photo/IC]

The Nantong Free Trade Zone – located in Nantong city in East China's Jiangsu province – reported that the value of total foreign trade reached 10.4 billion yuan ($1.64 billion) in 2021, up 30 percent year-on-year and exceeding10 billion yuan for the first time.

The value of R&D foreign trade was 32.95 million yuan, up 16 percent, remaining at top in the province. The value of cross-border e-commerce bonded imports bought online topped 150 million yuan, ranking it first in Jiangsu.

In addition, in terms of innovation drive, the Nantong Free Trade Zone implemented 11 reform and innovation measures last year, also ranking it best performer in the province. It also attracted leading e-commerce platforms such as Tmall International, Kuaishou and Pinduoduo to settle there.

The Nantong Free Trade Zone was established in 2013 with the approval of the State Council, China's Cabinet.