Over 80,000 private enterprises drive Jiangsu's global trade expansion

According to Nanjing Customs data, Jiangsu Province saw over 80,000 private enterprises actively engaged in international trade in 2024, with "single champion" enterprises—industry leaders in specialized sectors—achieving import-export growth rates surpassing 20%.

In 2024, private enterprises with documented import-export activity totaled 80,400 in Jiangsu, representing a 10% year-on-year increase and constituting more than 80% of the province's total foreign trade entities. Between 2018 and 2024, the import-export value of these enterprises surged from RMB 1.25 trillion to RMB 2.55 trillion, with their share of Jiangsu's total foreign trade rising from 28.6% to 45.3%.

Jiangsu's private sector has demonstrated distinctive strengths in emerging industries, innovative business models, and evolving consumer markets. In 2024, private "single champion" enterprises recorded a year-on-year import-export increase exceeding 20%, contributing to half of the province's total trade volume in this category. These firms dominate emerging trade formats, handling 100% of Jiangsu's market procurement exports and 91.6% of cross-border e-commerce platform exports.

Within the consumer sector, private enterprises imported goods worth RMB 39.14 billion in 2024, accounting for 34.6% of the province's total consumer imports. Notably, imports of household equipment, daily chemical products, and cultural/entertainment goods rose by 12.2%, 18.4%, and 23.3%, respectively, underscoring shifting consumer preferences.