"In 1978, Xiamen's total imports and exports were valued at a mere $82 million," said a representative of the Xiamen Municipal Bureau of Commerce. "In the more-than 40 years since the city was designated as a special economic zone, its foreign trade has grown rapidly. Its total imports and exports increased from $141 million in 1980 to $134.8 billion in 2023, with an average annual growth rate of 17.3 percent."
Upgrading from "made in Xiamen" to "Xiamen brand" going global
The rapid development of Xiamen's foreign trade would not have been possible without the assistance of the China Import and Export Fair. Participating companies like Golden Huanan Group, with over $200 million in annual exports, receive half of their annual orders from overseas buyers at the fair.
"Made in Xiamen" products are currently sold to 230 countries and regions, forming a diversified international market structure.
As early as 2021, Xiamen had issued the Xiamen Municipal Bureau of Commerce Action Plan for Cultivating Independent Foreign Trade Brands for Three Years (2021-2023), further promoting the precise cultivation of independent local foreign trade brand enterprises. To date, a total of 111 foreign trade independent brand enterprises have been identified, including King Long.
The upgrade from "made in Xiamen" to "Xiamen brand" not only accelerates the transformation of foreign trade and enhances the competitiveness of enterprises but also boosts confidence in the manufacturing industry.
Optimizing the business environment continuously
The rapid development of Xiamen's foreign trade is not only due to the combined effects of institutional, policy, and market advantages, but also the continuous optimization of the business environment.
According to the Xiamen Municipal Bureau of Commerce, the establishment of the Xiamen Free Trade Zone has played a crucial role in this optimization. Xiamen FTZ has fully leveraged institutional innovation to explore new paths for trade facilitation.
The deep integration of traditional foreign trade with the digital economy is also playing a major role. Xiamen has introduced leading platforms such as JD.com and is developing a comprehensive cross-border e-commerce pilot zone, driving the rapid development of traditional and emerging industries.
Transitioning from traditional to diversified
With the advancement of reform and opening up, Xiamen's foreign trade has shifted from mainly relying on a few State-owned enterprises and traditional trade methods to a diverse range of foreign trade entities and varied trading methods.
In the future, Xiamen will continue to promote trade transformation and upgrading, cultivate new competitive advantages in foreign trade, and work to become a new type of international trade center with strong capabilities in international resource allocation.