Trade between Fujian and four BRICS nations – Brazil, Russia, India and South Africa – reached 49.4 billion yuan ($7.33 billion) in the first half of the year, Fujian’s commerce bureau announced on July 26.

This translates into a 67.7 percent growth from last year, significantly higher than the 16.4 percent growth rate of Fujian’s general trade volume for the same period.

Experts noted that the 9th BRICS Summit to be held in Xiamen, Fujian this September is the trigger of this notable trade growth. Fujian’s commerce officials admitted that the Fujian government took the opportunity to host the forthcoming event to improve economic and trade exchange with other BRICS nations.

Fujian and BRICS nations, which are rich in resources, enjoy complementarities in industrial structures, said Wu Changshun, legal representative of Nanping, Fujian-based New Hongfu Motor Co, a power supply system producer, who has orders from Russia and Brazil to keep them busy till October.

Hongfu is only one of the Fujian enterprises making inroads into BRICS nations. Fuyao Glass Industry Group, China’s leading producer and exporter of automotive glass headquartered in Fuzhou, Fujian, made the largest investment of all Fujian enterprises in BRICS nations – a high quality float glass project in Russia.

China Development Bank and China Export and Credit Insurance Corporation’s Fujian branches signed agreements to bankroll Fujian enterprises’ expansion in BRICS nations. Longyan, Fujian-based metal producer Zijin Mining will have important projects built in Russia and South Africa. Both headquartered in Fuzhou, Fujian Agricultural Means of Production Group will tap the markets of India and Brazil, while Fujian Shipbuilding Industry Group is set to explore Brazil market.

Containers waiting to be loaded aboard.[ File photo/Chinanews.com]