According to Huaibei Customs, Huaibei’s total imports and exports with the Blet and Road countries expanded 26.8 percent year on year to 510 million yuan in Q1 this year.
Exports grew 8.3 percent to reach 420 million yuan while imports sored 661.8 percent to 90 million yuan.
Private enterprises are the mainstay of foreign trade with the Belt and Road countries, the imports and exports of which accounted for 50.2 percent of the total. The foreign trade of state-owned enterprises jumped 488.4 percent.
South Korea, Japan and Malaysia are the city’s major trading partners.
China proposed the Belt and Road Initiative in 2013, aiming to build a trade and infrastructure network connecting Asia with Europe and Africa along ancient Silk Road trade routes.