Taixing city, located in East China's Jiangsu province, handled imports and exports worth a record $6.32 billion last year, a whopping year-on-year increase of 21.3 percent.
Petrochemicals producer SP Chemicals (Taixing), a key enterprise in the city, seized the opportunity in the international market and expanded its product exports last year.
It exported nearly 110,000 metric tons of vinyl chloride, accounting for 70 percent of the country's total exports.
Faced with highly competitive foreign trade, the city implemented an assistance mechanism for its top 20 foreign trade enterprises, allocated 5.4 million yuan ($740,961) in special funds for business development and organized for over 150 enterprises to purchase export credit insurance last year.
In 2024, imports and exports conducted by Taixing enterprises to the 10 ASEAN countries, RCEP member countries and countries and regions involved in the Belt and Road Initiative maintained double-digit growth.
The gradual ramping up of the RECP and the continuous optimization of origin tax rates have further promoted the growth of exports, said Huo Shengtao, general manager of SNF (China) Flocculant.
The liquid chemical terminals run by SP Chemicals (Taixing). [Photo/WeChat account: txfabu]