DESPITE mounting global uncertainties and escalating protectionism, Shenzhen’s foreign trade has shown exceptional resilience and vitality. The city’s total imports and exports in March surpassed 387 billion yuan (US$52.9 billion), a year-on-year increase of 12.3%, with a growth rate 6.3 percentage points higher than the national average, according to data from Shenzhen Customs yesterday.
Continuous innovation, global expansion, and industrial upgrades have empowered Shenzhen companies to counter rising protectionism and geopolitical tensions this year, driving foreign trade growth and reinforcing local businesses’ global competitiveness, the customs said.
Yuan Lanlan, president of Shenzhen Filmbase New Materials Co. Ltd. based in Longgang District — a global leader in smart film and display glass technology — said that her company has received numerous orders from both domestic and international markets for its newly developed LED mesh flying screen. The product broke a Guinness World Record in March, becoming the world’s largest LED mesh flying screen.
She noted that the U.S. market accounts for 10% of the company’s sales. Faced with new tariff policies from the U.S., the company is determined to expand into emerging markets and will focus on regions such as the Middle East and ASEAN.
In March, Hong Kong, ASEAN, and Taiwan were Shenzhen’s top three trading partners.
ASEAN countries have become primary destinations for Shenzhen companies seeking global expansion. Shenzhen Sanjiang Electric Co. Ltd., which specializes in supporting products for power infrastructure, is actively expanding into the markets of Malaysia and Indonesia.
Sang Juanjuan, the company’s general manager, said that the company’s early entry into Cambodia and the Philippines had to some extent mitigated the impact of the new tariff policies from the U.S. “The potential of the overseas market is huge. Other countries have a high level of recognition for Chinese products and technology. We have enough confidence to tap into other markets.”
Meanwhile, cross-border e-commerce, with its flexible business model, has shown stronger resilience to risks compared to traditional foreign trade companies.
“In the first two months of this year, we exported products worth more than US$10 million,” said Xiong Hao with Shenzhen Dayu Sports Technology Co. Ltd. The company has so far set up 18 overseas warehouses and more than 450 after-sales service centers in Europe, Australia, and the Middle East. It has also opened eight brand flagship stores in a number of countries such as Poland, Ireland, and Italy.
(Li Jing) | 