Zhejiang export companies suffer from trade barriers

Over 33 percent of export companies in Zhejiang province suffered losses exceeding $3.6 billion in 2012 due to trade barriers, according to the Zhejiang Entry-Exit Inspection and Quarantine Bureau, Xinhua News Agency reported.

The bureau carried out a survey in March and June of 1,903 enterprises out of 46,597 companies in the province.

Private enterprises suffered most with 84 percent facing losses of $3 billion.

Wenzhou city was affected most severely with direct company losses of over $1.8 billion.

Zhu Hong, the deputy director of risk control sector, Zhejiang Entry-Exit Inspection and Quarantine Bureau, explained that there is still a long way to go for local companies to produce items of lower cost and higher quality to meet global standards.