Guangdong's foreign trade returns to pre-crisis level

China's major foreign trade powerhouse, Guangdong province, has strongly rebounded since the start of 2010. Its total first-quarter imports and exports exceeded 150 billion U.S. dollars, representing nearly 25 percent of China's total, returning to the level it was at prior to the international financial crisis.

Statistics from the General Administration of Customs Guangdong Branch show that Guangdong's imports and exports totaled 153.2 billion U.S. dollars in the first quarter, representing a 33 percent increase from the previous year. Exports rose more than 21 percent to 85.9 billion U.S. dollars and imports rose nearly 51 percent to 67.3 billion U.S. dollars.

According to expert analysis, Guangdong's foreign trade has rallied since November 2009 and has categorically been restored to the level it was at prior to the international financial crisis. The import and export growth rates have accelerated for general trade, private enterprises and trade between Guangdong and ASEAN countries.

The exports and imports of Guangdong's processing industry rose almost 24 percent to 83 billion U.S. dollars in the first quarter and the import and export value for private enterprises was up over 57 percent. The export and import values between Guangdong and Hong Kong, Europe, the United States, ASEAN countries, Japan and Taiwan all experienced double-digit growth. In particular, Guangdong's exports to ASEAN countries expanded by nearly 40 percent and its imports from those countries rose by 50 percent.

By People's Daily Online