Jiangsu Province exported 1.06 trillion-yuan (US$149 billion) worth of high-tech products in the first ten months of the year, a 7.6% increase year-on-year, according to Nanjing Customs.
Companies across the region are seeing rapid growth. For example, Linkhou Robotics, based in Suzhou, will soon ship a batch of industrial robots overseas. Equipped with original vision-perception and motion-control technology, the robots are currently undergoing final inspections. The company's exports surged nearly tenfold between January and October, and its products are now widely used in high-end manufacturing sectors, including consumer electronics, new energy production and humanoid robotics.
On November 17, Hongbo Telecom, based in Changshu of Suzhou, cleared custom procedures for an export of flexible flat cables to a major international brand. The 340,000-yuan shipment was traded under the “outward processing” model. Under this model, enterprises send their own raw and auxiliary materials, components or semi-finished products to overseas companies for manufacturing or processing, and then re-import the finished goods within a specified period. Hongbo Telecom's chairman Yan Hongfang noted that this method saved 70,000 yuan on this specific order and is expected to reduce costs by about 500,000 yuan over the course of the year.
