Year 2007 has witnessed rapid development, remarkable effect, high level and far-reaching influence of the open-up economy of Jiangsu Province . Faced with changes of domestic and international situation, environment and policy, Jiangsu has always adhered to the guiding principle of scientific and proactive development. By opening up mind, seizing opportunity, optimizing infrastructure and exploring aggressively, Jiangsu has ushered into a new era of open-up economy. In 2007 foreign trade reached a greater height. Import & export volume hits 349.5 billion US dollars and total amount of foreign capital actually utilized stands at 21.9 billion US dollars. A three-year program has been launched to start international service outsourcing. Agreed foreign investment has reached 470 million US dollars. Contract value and turnover of international economic and technological cooperation have both exceeded 4 billion US dollars.

In year 2007 shift of growth mode has been primary emphasis of Jiangsu ’s foreign trade business, which requires maintaining stable growth rate on one hand and accelerating structure transformation and making vigorous efforts to strengthen capability of sustainable development on the other hand. Thanks to the efforts, a performance evaluation system for export has been established and a promoting, assessing, propagandizing and exploring mechanism for export brands has been gradually created and completed. Under the guidance of trade blossom through technologies, vital endeavor has been injected into forging of technological innovation bases, M&E product bases, software bases and agricultural product bases, all export-oriented. As a result, trade structure has been further optimized with hi-tech products accounting for 42% of total export volume and an export mix featuring hi-tech and M&E products has taken shape by and large. Private enterprises have contributed 26 billion US dollars to export volume, surpassing combination of state-owned and collective-owned enterprises and are continuously growing at an average annual rate of 90%. Businesses with local characteristics, such as hardware of Zhenjiang , glassware of Yancheng and toy of Yangzhou , are getting ever larger in scale and gradually forming industrial complexes.

In 2008 Jiangsu will pay close attention to new trends in development of international trade, make active adjustment according to national policies, step up efforts in structure optimization and quality improvement, boost coordinated development between regular and processing trade, import and export, domestic and foreign investment, cargo and service trade and strengthen defense against market risks and trade frictions.

(1) Vitally boost buildup of export brands and bases. It is a powerful instrument to speed up restructuring and shift growth mode of foreign trade. Jiangsu will make unremitting effort to perfect nurturing system of export brands, constitute brand-supporting policies and offer brand-promoting services, specialized training and registration protection. The province will continue its practice of certification, cultivation and appraisement for export bases. It will vigorously support export bases, accelerate building of public technology platform, business platform and information platform. Exploration for a development mode of industries with local characteristics led by regional export brands is now underway.      

(2) Optimize mix of export products and expand export volume. Jiangsu will encourage export of such high-tech products as new energies, new materials and bio-pharmaceuticals, enhance competitiveness of vehicles and complete plants, encourage exploiting international market for agricultural products with competitive-edge and promote innovation and R & D in traditional superior industries. The province will actively implement import-encouraging policies of the central government and import more advanced technologies and equipments, resources and raw materials. Enterprises will be organized to take full advantage of regional trade agreements in pioneering new import channels.

(3) Step up effort in international market exploration and promote setup of overseas sales network by large corporations. Jiangsu will continue its efforts in trade-promoting activities both at home and abroad, including Europe, the USA and Japan, and organize the Guangzhou Trade Fair, the East China Trade Fair and the OSAKA Trade Fair in Japan and organize manufacturers with competitive-edge to break new ground in emerging markets in north Europe, Africa, Latin America, Russia and ASEAN countries. The province will encourage large corporations to set up overseas sales network to enhance their international business capability and incubate Chinese transnational enterprises and global brands.