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SIP Imports & Exports Hit USD 8.4 Billion in the First Quarter

According to statistics from the Customs, for the first quarter this year, SIP imports & exports hit USD 8.4 billion, up 40.9 per cent compared with the same period last year, accounting for 28 per cent of that of the whole Suzhou city. Among which, imports amounted to USD 4.55 billion, and exports amounted to USD 3.85 billion, over 28.8 per cent and 58.4 per cent respectively.

The lowering of import duty this year is an important factor for SIP’s imports and exports growth. Secondly, the rapid economic development of Yangtze River Delta provides more prospects for SIP. Thirdly, a manufacturing base guided by hi-tech has been formed. Fourthly, the logistics function has become perfected since last year, bonded house and export processing zone, export supervision warehouse and bonded logistics center has been established and put into use, the idea of “zero inventory” and “convenient transportation” has been realized.

May 8, 2005

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