NINGBO customs posted a year-on-year increase of 4.7 increase in the foreign trade cargo value to US$45.21 billion in the first quarter of this year, Xinhua reports.
Export value grew six per cent to $26.66 billion. Import value increased 2.8 per cent to $18.55 billion. Private companies' imports and exports accounted for 66.4 per cent of the total, valued at $17.69 billion.
Ningbo Mitsubishi Chemical, a major Sino-Japanese joint venture in Ningbo with an annual production capacity of 600,000 tonnes, imported 55,000 tonnes of raw materials during the first quarter. In the same period, Samsung Heavy Industry Ningbo Company, subsidiary of Korea-based Samsung Heavy Industry, recorded an import and export volume of 130,000 tonnes.