Ningbo eyes emerging markets for exports

A series of fairs and events in Zhejiang province aim to boost its global trade presence.

The China Zhejiang Investment and Trade Fair (ZJIFT), the China International Consumer Goods Fair (CICGF) and the China Opening-Up Forum in 2013, which lasts from June 8 to 11, will increase the province's profile.

Against a background of sluggish economic growth, the city's imports and exports stood at $31.121 billion, a 2.9 percent year-on-year increase.

Volume of imports stood saw a year-on-year increase of 20.6 percent and emerging market are proving avid buyers.

"Some emerging markets are showing noticeably increasing purchasing power, and our textile products are especially popular," said Liu Yongzhi, sales manager of a Ningbo-based export company.

Ningbo's exports volume reached $19.647 billion, up 6.5 percent, exceeding the goal of 6 percent for average annual export growth rate set by the city's foreign trade authorities.

Fluctuating currency exchanges, especially the yen and dollar, have had an impact.

In April, the monthly growth rate of Ningbo's exports to the US was below the average rate for the global market for the first time this year. As for the Japanese market, with the continuous depreciation of the yen, exports to the country slumped significantly.

"The city's exports to Japan continue to drop, with the exports of leading commodities such as textiles and food dropping by 4.8 percent and 10.7 percent respectively," a source with city's foreign trade authorities said.

Foreign trade enterprises in Ningbo said they will focus on imports of consumer goods, especially food and beverages. Imported honey, milk, wine and beer are particularly popular among Ningbo consumers.