Shanghai Exports to Exceed 30 Billion Dollars in 2002

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Last updated at: (Beijing Time) Monday, December 16, 2002

Shanghai Exports to Exceed 30 Billion Dollars in 2002

China's industrial and commercial center Shanghai is expected to achieve total exports of more than 30 billion US dollars this year, Shanghai customs said Saturday.

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China's industrial and commercial center Shanghai is expected to achieve total exports of more than 30 billion US dollars this year, Shanghai customs said Saturday.

Statistics showed that from January to November, Shanghai's exports totaled 29.05 billion dollars, up 14 percent over the corresponding period last year.

The majority of the exports, or 59.5 percent, were contributed by overseas-funded enterprises, whose exports increased by 2.62 billion dollars year-on-year.

Exports of the private sector in Shanghai also surged rapidly. In the past 11 months, domestic private enterprises achieved 260 million dollars of exports, six times more than the figure for the same period last year.

The number of private enterprises granted foreign trade licenses jumped to 1,791 in November from a mere 233 at the end of last year.

The United States, Japan, the European Union and Hong Kong remained the leading destinations of Shanghai exports, taking in 70.5 percent of the total. Meanwhile, the city's exports to southeast Asian nations, the Commonwealth of Independent States and south Pacific markets also achieved major growth.

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