Tue, 01 Dec 2020

Foreign trade rises in China's Shenzhen

Xinhua
29 Oct 2020, 14:59 GMT+10

SHENZHEN, Oct. 29 (Xinhua) -- South China's metropolis of Shenzhen saw its foreign trade volume edge up 2.7 percent year on year to 2.18 trillion yuan (326.8 billion U.S. dollars) in the first three quarters, customs data showed.

Of the total trade, the export volume dipped 0.9 percent to 1.19 trillion yuan during the period, while the import volume jumped 7.3 percent to around 990.4 billion yuan, according to Shenzhen Customs.

In September alone, Shenzhen's trade volume reached 298.5 billion yuan, up 6.8 percent year on year, marking the sixth consecutive month of growth.

In terms of exports, the exports of computers and other equipment and their components totaled 117.4 billion yuan, a year-on-year increase of 4.5 percent, while household appliances grew by 7 percent.

In terms of imports, driven by the steady recovery of the domestic economy and the overall work resumption of the manufacturing industry, imports of electronic components, industrial machinery and agricultural products have increased rapidly.

The Association of Southeast Asian Nations (ASEAN), the Europe Union and the United States remain the city's major trading partners. In the first three quarters, imports and exports with ASEAN totaled 336.5 billion yuan, an annual increase of 9 percent.

Private enterprises continued to play a pillar role in stimulating the city's foreign trade. Their trade volume grew 7.3 percent year on year to 1.3 trillion yuan, driving the city's foreign trade up 4.2 percentage points.

More Asia News

Access More

Sign up for The Asia News

a daily newsletter full of things to discuss over drinks.and the great thing is that it's on the house!