China's trade companies get off to good start in new year

By Zhang Jiaqi
0 Comment(s)Print E-mail, February 8, 2023
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Foreign trade businesses in China have jumped into full swing immediately after the Spring Festival holiday as they saw a surge in orders in the new year.

An Indian businessman (R) shops at the Yiwu International Trade Market in Yiwu city, east China's Zhejiang province, Feb. 2, 2023. [Photo/Xinhua] 

Li Longlong, export manager of Compaks RV in Rongcheng, Shandong, said the company just sent away 10 containers of recreational vehicles (RVs) for export, and is arranging another five while operating in high capacity to deliver other orders.

According to Li, the company has exported 110 RVs since the Spring Festival. Under the guidance of Rongcheng Customs, the company has expanded its overseas markets through overseas warehouses, and now logs exports every week.

TCL's home appliance company in Huizhou, Guangdong, also received a large number of overseas orders. To ensure timely delivery, the company resumed its production line on the fourth day of the Chinese New Year, with over 1,000 workers returning to their posts.

According to Shu Jueting, spokesperson of China's Ministry of Commerce, cooling global demand amid recession fears is weighing on foreign trade, but local governments have organized foreign trade companies to promote business overseas and attracted foreign businesses to China through a slew of measures, greatly expanding trade channels and building their confidence.

With the support of policies, the confidence of foreign trade companies have been effectively boosted, making a good start for stable and better-structured foreign trade for the whole year, said Pang Chaoran, an associate researcher with the Chinese Academy of International Trade and Economic Cooperation under the Ministry of Commerce.

In the past year, China's annual foreign trade value hit a record high. Data shows that its total trade in goods reached 42.07 trillion yuan (US$6.3 trillion), up 7.7% year on year, topping the world for six consecutive years.

With their confidence boosted, foreign trade companies have stepped up efforts in product research and development and overseas market expansion to seek new breakthroughs.

Compaks has been working to improve its RV assembly techniques, and adds two new models per month on average. The company has applied for over 30 patents in fields like new materials and new structures in recent years, and is increasing investment in product upgrading using smart technology, according to Jing Guangzhi, director of the company's technical department. Now, the production cycle of RVs has been cut from 35 to 20 days.

Bonas, a company specialized in women's silk stockings, started a technical improvement project this year with its equipment manufacturer in Italy. With a seam in the middle removed, the stockings have become more comfortable and beautiful.

"All our machines are now managed digitally and thus more efficient," said Huang Zuqun, president of Bonas. "These build up our confidence to cope with market changes and seek breakthroughs amid challenges and pressures."

Hangzhou Goldfish Group specialized in home appliances is seeking new breakthroughs in the high-end market. General Manager Assistant Wu Zheng said that the company will further increase its efforts to explore developed markets this year. 

Now leading a delegation to North America for an exhibition, Wu said that the company will communicate with its North American partners about selling their brand products there.

"It's the first long business trip of the team after the Spring Festival, but no matter how long the distance is, it will never frustrate our determination to expand the market," Wu said, adding that Oceania is the next target after North America.

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