Taizhou's trade volume with the countries and regions involved in the Belt and Road Initiative reached 12.41 billion yuan ($1.85 billion) in the first quarter of this year. [Photo/taizhou.com.cn]

Taizhou's trade volume with the countries and regions involved in the Belt and Road Initiative reached 12.41 billion yuan in the first quarter of this year, accounting for 31.3 percent of the city's foreign trade volume recorded over the period, according to local authorities.

The figure also represented a rise of 11.6 percent year-on-year. Imports soared by 12.8 percent to stand at 11.74 billion yuan while the figure for the exports dropped 5.7 percent to reach 670 million yuan.

India, Russia and Thailand are the top three BRI trading partners for Taizhou, and the trade value with these countries posted robust growth in Q1.

Statistics show that imports and exports with India, Russia and Thailand stood at 1.93 billion yuan, 1.43 billion yuan and 680 million yuan respectively, representing increases of 25.8 percent, 14.2 percent and 21.4 percent respectively.

Over the period, the trade with Poland, however, decreased 12.5 percent to 630 million yuan.

Mechanical and electrical products and footwear were the primary goods exported from Taizhou while crude plastics, scrap metals and unwrought rolled copper were the major imports from the BRI countries and regions.

The Belt and Road Initiative, which refers to an ultra-modern land-and-sea project proposed by China in 2013, aims to boost trade links and infrastructure connectivity among Asia, Europe and Africa－a throwback to the ancient Silk Road routes. It comprises the Silk Road Economic Belt and the 21st Century Maritime Silk Road.