Since the initiation of China's reform and opening up policy in 1978, Hangzhou has experienced a boom in international trade. 

Expanded Trade Scales

In 2017, the eastern Chinese city saw a 13.3 percent growth of imports and exports volumes at 508.5 billion yuan ($73.07 billion), among which export volume contributed 345.6 billion yuan, up 4.3 percent year on year. Exports to the countries involved in the Belt and Road Initiative amounted to 104.9 billion yuan, accounting for 30.4 percent of the total export value.

The export structure has gradually changed from traditional industries to high-tech and cultural products.

More Foreign Investment

Hangzhou attracted a total of 575 foreign-invested enterprises in 2017, a year-on-year increase of 24.5 percent. The actual use of foreign capital reached $6.61 billion. 42 projects worth over $100 million were introduced along with 208 investment projects from 120 enterprises listed on the Fortune 500.

Flourishing Cross-border E-commerce

The transaction volume of cross-border e-commerce in 2017 amounted to $9.94 billion, an increase of 22.5 percent year on year, of which $7.02 billion was exported and $2.91 billion was imported, up 15.9 percent and 42 percnet respectively.