Chinese foreign trade powerhouse posts positive growth in first 9 months

East China's Jiangsu Province, a major export-oriented economic powerhouse in the country, saw its foreign trade bounce back to a positive growth of 0.8 percent in the first three quarters of 2020, customs authorities said Saturday.

The province's total foreign trade volume reached 3.23 trillion yuan (about 481.5 billion U.S. dollars) in the January-September period, according to Nanjing customs.

Jiangsu's exports were down 1.8 percent year on year to 1.97 trillion yuan while its imports gained 5.2 percent to 1.26 trillion yuan during the period.

During the first nine months of the year, Jiangsu registered growth in trade with ASEAN as well as countries along the Belt and Road, up 7.1 percent and 0.8 percent year on year, respectively, the customs said.

Private enterprises have become the mainstay of Jiangsu's foreign trade growth, with a 12.5-percent year-on-year increase in imports and exports to 1.11 trillion yuan during the period, accounting for over one-third of the province's total.

Jiangsu also registered double-digit growth in exports of mobile phones, tablets, medicinal materials and pharmaceuticals, as well as medical equipment during the nine-month period.