Jilin hopes for steady expansion in overseas trade by 2024

According to government officials and trade analysts on Wednesday, Jilin province in Northeast China is predicted to see stable growth in foreign trade this year, driven by the nation’s thriving automobile industry, growing trade volume made possible by cross-border e-commerce, and strengthening business ties between China and Russia. Jilin’s outstanding performance in international commerce last year—the province recorded record export and import totals of 167.91 billion yuan ($23.38 billion)—has stoked the excitement. According to figures from Changchun Customs, this represented a gain of 7.7 percent year over year, placing it tenth in China in terms of growth rates.

 

In 2023, Jilin’s car exports reached a significant milestone with a 158.3 percent year-over-year increase. According to Ding Yibing, dean of the School of Economics at Jilin University in Changchun, the provincial capital, Jilin’s foreign trade with Russia will pick up speed this year due to the country’s complementary trade structure, Russia’s increasing demand for Chinese industrial goods like automobiles, manufacturing equipment, clothing, and textile products, and the rapidly expanding cross-border e-commerce business between China and Russia. Changchun Customs reports that Jilin’s trade volume with Russia reached 29.73 billion yuan in 2023, representing a 71.5 percent year-over-year increase and 17.7 percent of the province’s overall foreign trade.

 

In the meantime, Jilin’s car exports to Russia totaled 57,000 units, a noteworthy rise of 655.8% year over year. With 13.08 billion yuan in total sales, it represented an annual gain of 475.4 percent. Hunchun, a border city in the Yanbian Korean autonomous prefecture in Jilin, is eager to strengthen its trade ties with Russia. Since last year, it has opened several cross-border transportation routes through Russian seaports like Vladivostok and Slavyanka and introduced new international trade formats like market procurement trade and used car exports. Hunchun’s cross-border e-commerce import and export trade value reached 5.1 billion yuan in 2023, a 44 percent growth year that cemented its position as the nation’s most important land border port for trade.

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