Ningbo's trade with BRI countries surges in Q1-Q3

A Ningbo Customs officer answers questions regarding clearance in ASEAN countries. [Photo by Fu Yichun/cnnb.com.cn]

In the first three quarters of 2025, Ningbo's trade with countries involved in the Belt and Road Initiative reached 551.45 billion yuan ($77.54 billion), a 10.13 percent year-on-year increase, accounting for over half of the city's total foreign trade.

According to Ningbo Customs, exports rose 12.48 percent to 343.27 billion yuan, while imports grew 6.46 percent to 208.18 billion yuan.

Ningbo Chima Winch Co, a local manufacturer, reported trade of 22.75 million yuan with BRI countries, up 785.2 percent year-on-year. "Southeast Asia's auto parts market is booming," said the company's sales manager. "We've built strong ties with Thailand and Vietnam and will continue to expand in this dynamic region."

High-tech exports are also on the rise, with Ningbo exporting 25 billion yuan worth of advanced technology products to BRI countries, up 20.5 percent.

Soundking Electronics and Sound Co, a smart AV systems manufacturer and supplier to the Hangzhou Asian Games in 2023, saw exports to Vietnam and Indonesia grow 25 percent and 15 percent, respectively. "We participated in an exhibition in Bangkok for the first time this July and were thrilled by the response," said Li Chi, the company's international business deputy director.