Ningxia Hui Autonomous Region saw its imports and exports with the Belt & Road Countries from January to July this year rise by 46.1 percent to 2.77 billion yuan, accounting for 31.7 percent of the total, with exports growing by 51.2 percent to 2.52 billion yuan and imports by 8.4 percent to 250 million yuan.
The mix of commodities exported from Ningxia to these countries has been further improved, with the exports of basic organic chemicals, pharmaceuticals and medicinal materials, and ferroalloys increasing respectively by 24 percent, 54.1 percent and 85.3 percent, and that of mechanical and electrical products, agricultural products, and clothing and accessories rising in folds in this period.
The exports of newly-added commodities from Ningxia to these countries accounted for 18.7 percent of its total exports to these countries.
The cooperation between Ningxia and the Belt and Road countries has been further deepened. From January to July, Ningxia had economic and trade exchanges with 50 Belt and Road countries, with its exports to 36 of them posting growth.
India, Vietnam and Thailand were the top three trading partners of Ningxia, and Ningxia’s exports to them increased by 58 percent to 1.28 billion yuan, accounting for 50.8 percent of its total exports to the Belt & Road Countries.
The modes of trade between Ningxia and the Belt & Road Countries has been further enriched. During this period, Ningxia’s exports to these countries in the mode of general trade outshone that in other trade modes, registering 2.36 billion yuan which accounts for 93.7 percent of its total exports to these countries.
Its exports to these countries in the modes of special supervision area logistics goods trade and bonded warehouse inbound and outbound goods trade logged 120 million yuan.