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Suzhou's trade with BRI countries surges to $137b

Suzhou Bureau of Commerce | Updated:2023-09-05 17:56

The inaugural Suzhou High-Quality Development Forum was held in Suzhou on Aug 25, unveiling a research report titled "Suzhou and the Belt and Road: A Decade of Review and Prospects."
Over the span of a decade, Suzhou's trade with "Belt and Road" countries has surged from $69.95 billion to an impressive $137 billion.
In the previous year, Suzhou's trade with countries and regions participating in the Belt and Road Initiative accounted for 21.61 percent of the city's total foreign trade, marking a 35.82 percent year-on-year increase.
Suzhou-based enterprises saw a 34.9 percent surge in investments across 116 projects within countries and regions along the Belt and Road, with agreed investment values escalating to $1.08 billion, reflecting a 62.4 percent increase.
Investments from Association of Southeast Asian Nations in projects based in Suzhou tallied 2,794, with the actual utilization of ASEAN investments reaching $15.01 billion.
Main exports include textiles, integrated circuits, laptops, and mobile phones. Imports include integrated circuits, footwear, consumable goods like food products, and organic chemicals. Cross-border e-commerce in the city in 2022 reached 16.7 billion yuan ($2.29 billion), demonstrating a 40.98 percent growth.
Furthermore, Suzhou has placed a strong emphasis on enhancing cultural exchanges. Collaborations in education have continued to deepen, with Suzhou's universities welcoming 2,821 participants from countries and regions along the Belt and Road for further studies.
Medical and health assistance efforts have also seen a significant increase, with Suzhou's medical professionals venturing abroad.
The promotion of cultural tourism brands remains steadfast, with promotional culture and tourism events held in Hungary and Singapore.