In the first 8 months, the growth rate of processing trade in Fujian Province led the way in optimizing the foreign trade structure, improving quality and efficiency, and showing a good development trend

In recent years, the processing trade in Fujian Province has shown a good trend of steady growth in scale, continuous optimization of structure, and accelerated transformation of momentum. According to statistics from Fuzhou Customs, in the first eight months of this year, the import and export of processing trade in Fujian Province continued to maintain a good development trend, with imports and exports reaching 179.25 billion yuan, a year-on-year increase of 15.1%, accounting for 13.4% of the total import and export value of Fujian Province during the same period, an increase of 0.9 percentage points compared to the same period last year. Among them, exports amounted to 113.64 billion yuan, an increase of 9%; Imports amounted to 65.6 billion yuan, an increase of 27.7%. Against the backdrop of increasing global trade uncertainty, the growth rate of processing trade in Fujian Province is higher than the average level of foreign trade in the province, becoming an important stabilizer for foreign trade growth.

Structural optimization and upgrading, led by high-end manufacturing. Mechanical and electrical products firmly occupy the leading position in Fujian Province's processing and trade exports and imports, with a significant supporting role. In the first eight months of this year, Fujian Province's processing trade exported mechanical and electrical products worth 82.43 billion yuan, an increase of 4.6%, accounting for 72.5% of the total value of Fujian Province's processing trade exports during the same period. Among them, central processing components and automobiles increased by 41% and 9.7% respectively; Imported mechanical and electrical products amounted to 29.66 billion yuan, an increase of 29.4%, accounting for 45.2% of the total value of processing trade imports in Fujian Province during the same period.

Empowering trade policies and activating development momentum. Guanjie Electronic Technology (Fujian) Co., Ltd. is a leading export display enterprise in Fujian Province. "Thanks to the enterprise group's full process outsourcing processing exemption policy, it not only shortens the approval time, but also saves hundreds of millions of yuan in guarantee amount every year," said the company's customs personnel. Under the promotion of Fuzhou and Xiamen Customs, multiple subsidiaries of Crown Prince have formed an enterprise group to achieve free sharing of bonded goods resources, reduce the cost of goods circulation, minimize capital occupation, and significantly improve operational efficiency. In the first eight months of this year, Fujian Province's processing and trade exports of LCD flat panel display modules amounted to 10.65 billion yuan, an increase of 4.1%.

Foreign invested enterprises are the main import and export entities of processing trade in Fujian Province. In the first eight months of this year, the import and export of processing trade by foreign-invested enterprises, private enterprises, state-owned enterprises and other operating entities in Fujian achieved rapid growth, with growth rates of 7.8%, 35.6% and 8.8% respectively. Among them, the import and export of foreign-invested enterprises accounted for 59.9% of the total import and export value of processing trade in Fujian Province during the same period; Private enterprises accounted for 30.7%, an increase of 4.6 percentage points compared to the same period last year; State owned enterprises account for 9.5%.

Diversified expansion of trading partners and impressive performance in emerging markets. In the first eight months of this year, the import and export of Fujian's processing trade to countries jointly building the "the Belt and Road" was 85.21 billion yuan, an increase of 24.6%, accounting for 47.5% of the total import and export value of Fujian's processing trade in the same period; Imports and exports to the European Union amounted to 25.3 billion yuan, an increase of 31.8%, accounting for 14.1%; Imports and exports to Latin America amounted to 20 billion yuan, an increase of 22.5%, accounting for 11.2%, setting a new historical high for the same period; Imports and exports to South Korea and Australia increased by 71.3% and 21.5% respectively.

Fuzhou Customs is based on the construction of a demonstration zone for cross-strait integration development, deepening its focus on key processing and trade enterprises, actively providing advanced services, accurately matching demand, strengthening policy promotion and interpretation, guiding enterprises to comprehensively grasp policy guidance and make full use of policy dividends. We will coordinate supervision and services, actively promote reform measures such as "bonded+ERP", liquid chemical supervision mode, and remote video verification, steadily expand institutional opening up, continuously improve the level of enterprise customs clearance convenience, and continuously enhance the high-quality development of processing and trade in Fujian Province. (He Tianye/Text)