WND's foreign trade accounts for over 50 percent of city's total

Wuxi National Hi-tech District. [Photo/WeChat account: xinwu_wx]

The foreign trade of Wuxi National Hi-tech District totaled $44.9 billion in the first three quarters of 2022, accounting for 53 percent of the city's total foreign trade value.

Exports posted a 22.3 percent year-on-year increase to $26.25 billion, of which over 60 percent were high-tech products.

In the same period, exports of mechanical and electrical products in WND increased by 20.6 percent to $23.05 billion, accounting for 87.8 percent of total exports. The exports of high-tech products saw an increase of 35.5 percent yearly to $16.05 billion, accounting for 61.1 percent of total exports.

An intelligent workshop in WND. [Photo/WeChat account: xinwu_wx]

Official data showed that WND invested 4.6 percent of its total GDP in research and development.

Wuxi Lead Intelligent Equipment Co spends over 10 percent of its total sales in research and development every year. The company also reported an increase of over 40 percent in R&D investment in the first three quarters of the year, which has further enhanced the company's innovation capabilities and competitiveness.

The district's foreign trade with South Korea, ASEAN and the European Union increased by 60.1 percent, 37.6 percent, and 12.6 percent yearly over the period, respectively, totaling $6.77 billion, 4.51 billion and 4.25 billion. WND's trade with countries involved in the Belt and Road Initiative reached $6.62 billion, up 28.8 percent year-on-year.