Breaking Ten Billion in the First Two Months! Understanding the "New" Volume of Trade between Ningbo and CEECs

 

 

Imports from CEECs. Photo by Yao Juping

 

 

Reporter of Yongpai Client: Sun Jiali; Correspondents: Li Sibing, Ding Xiaojin and Zheng Jiaju

In the report of Ningbo's foreign trade in the first two months of this year, there is a set of impressive data-the total import and export volume with CEECs exceeded RMB 10 billion for the first time during the same period in history, reaching RMB 10.2 billion, a year-on-year increase of 15.3%, which was 7.9 percentage points higher than the year-on-year growth rate of Ningbo's import and export volume during the same period.

The export volume was RMB 8.23 billion, a year-on-year increase of 16.9%; the import volume was RMB 1.97 billion, a year-on-year increase of 8.9%.

At present, the world economic growth momentum is insufficient, geopolitical influences are deepening, and the global trade order is facing great challenges. However, Ningbo's trade with CEECs can "flourish all the way", which is not easy.

 

 

Ningbo Customs staff visited commodity import companies in CEECs. Photo by Yao Juping

 

 

Where does resilience and motivation come from? The ever-increasing "new" content is an important support.

From the product point of view, more and more new products with high technological content are accelerating their "going overseas", and more and more good things from CEECs are being shipped from Ningbo to the whole country.

On March 14, a batch of control panels produced by Ningbo Corelead Optoelectronics Technology Co., Ltd. were being packed and are about to set off. These control panels are key components for the manufacturing of high-end smart mirrors, destined for Corelead Optoelectronics' factory in Serbia.

"The establishment of a production base in Serbia is a milestone for us to explore the European market." said Yu Xiongwei, the person in charge of Corelead Optoelectronics. By exporting core components made in China to Serbia for assembly and then distributing them across Europe, the company has successfully shortened the order lead time by more than 25 days.

The resource advantage of building factories in CEECs has quickly transformed into an order advantage. "The number of orders to be shipped in March this year reached a record high for the same period in history, with the largest order from Europe worth RMB 5.5 million." Yu Xiongwei said.

 

 

Ningbo Customs staff visited commodity import companies in CEECs. Photo by Yao Juping

 

 

According to the statistics of Ningbo Customs, in the first two months, the import and export volume of M&E products accounted for 64% of the total import and export volume between Ningbo and CEECs during the same period, indicating that the trade products between China and CEECs have high added value and scientific and technological content, reflecting a high level and value.

Specifically, M&E products and labor-intensive products were the main export products, with export values of RMB 5.29 billion and RMB 1.64 billion respectively, up 10.4% and 26.5% year-on-year respectively; M&E products were the main import products, with an import value of RMB 1.24 billion, up 57.1% year-on-year.

From the perspective of market, Ningbo and CEECs have complementary advantages, strong demand for cooperation and huge space for cooperation. A two-way "win-win chain" has been woven.

In the first two months, Poland, Slovakia and Greece were the top three trading partners. Ningbo's imports from and exports to them reached RMB 4.31 billion, RMB 1.51 billion and RMB 770 million respectively, up 15.2%, 37% and 6.1% year-on-year. The three accounts for 64.6% of Ningbo's total import and export volume to CEECs in the same period.

On March 13, Zhou Xiang, the customs director of Ningbo Jintian International Logistics Co., Ltd., came to the customs clearance business window of Yinzhou Customs under Ningbo Customs and handled the guarantee release procedures for 23 tons of refined copper imported from Poland.

"In the past, the import guarantee amount of copper was relatively high. Now we can flexibly apply tax facilitation measures such as 'tariff guarantee insurance', 'difference guarantee' and 'consolidated taxation' according to demand, which greatly reduces the cost of funds." Zhou Xiang said.

The copper business between the company and CEECs is therefore going smoothly and growing. This year, it is estimated that about 180,000 tons of refined copper and copper alloy will be imported from CEECs such as Poland and Romania, with a year-on-year increase of more than 10%.

Rowing against the current requires strong paddling; a moment of relaxation can set you back thousands of feet.

As China's first demonstration zone for economic and trade cooperation between China and CEECs, Ningbo is actively strengthening two-way exchanges with CEECs to promote economic and trade cooperation to a higher level.

For example, Ningbo Customs has established a party member task force for supervision services in CEECs, comprehensively optimized the customs clearance process, increased the accuracy of corporate declarations to 98%, significantly shortened the average customs clearance time, and supported the expansion of imports of high-quality resource commodities from CEECs.

To help enterprises go global, the construction of the China-CEEC Customs Information Center is also being continuously promoted. This year, 13 new content source channels have been added, and 164 new English materials such as relevant policy information, facilitation measures, technical trade standards and customs clearance guidelines have been collected and released to provide forward-looking decision-making support for enterprises.

 

 

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  Disclaimer：The above content is translated from Chinese version of cnnb. The cnnb version shall prevail.