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China's Industrial Province Sees Foreign Trade Upturn
State-owned enterprises in northeast China's industrial province of Liaoning experienced an upturn in foreign trade in the first half of the year, ending a slump from 1995 to 1999.
Statistics from the Shenyang Customs show that the total volume of foreign trade for these enterprises in the first six months reached US$ 2.712 billion, 20.9 percent up from the corresponding period last year. Accumulated foreign trade surplus realized some US$ 1.1 billion.
Customs officials said that among the rise, processed products imports accounted for US$ 250 million, up nearly 40 percent.
Exports to Europe, North America and Africa incrased by 44 percent, 37 percent and 3.9 percent, respectively.
Export value for 38 major export companies added up to more than US$ 1.3 billion, over 70 percent of the total. There has been an outstanding increase in imports from Europe, totaling US$ 276 million, an increase of around 60 percent compared to the first six months last year.
The Chinese government set a three-year program for the reform and restructuring of the State-owned enterprises since 1998, in which Liaoning has played a crucial role.
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