Last updated at: (Beijing Time) Friday, June 20, 2003
Beijing's Foreign Trade Reports Rapid Rise
Trade volume for Beijing enterprises reached 1.4 billion US dollars in May, rising by 53.7 percent over the same period last year, according to the customs Thursday.
Trade volume for Beijing enterprises reached 1.4 billion US dollars in May, rising by 53.7 percent over the same period last year, according to the customs Thursday.
Experts said the high growth rate in foreign trade was mainly attributable to the flourishing trade of mechanical, electronic and hi-tech products.
Statistics show that exports of mechanical and electronic products increased by 91.4 percent to 360 million US dollars during the period, while imports rose to 650 million US dollars, up 47.1 percent.
Exports of hi-tech products grew by 145.7 percent to 240 million US dollars with imports up 88.7 percent to 190 million US dollars.
Foreign funded enterprises in the city were considered by experts to play an important role in driving Beijing's foreign trade development.
In the first five months, exports by foreign funded enterprises made up 68.5 percent of the total volume, while imports accounted for 57 percent.