Processing Trade Grows in Shandong

Processing trade in east China's Shandong province has registered considerable growth during the first half of the year.

Statistics from customs show that the volume of processing trade reached 3.628 billion US dollars, rising 34.7 percent over the same period last year.

Of the entire processing trade, mechanical and electronic products amounted to 868 million US dollars, almost 24 percent of the total volume.

Officials pointed out that the increase in processing trade has brought enormous economic and social benefits as well. The number of processing trade companies reached 6,000, employing nearly a million workers.

The increase in processing trade also helped to raise the growth rate of GDP in the province by 2.1 percentage points.

In addition to the Qingdao tax-free zone, Yantai and Weihai export processing zones are going to be set up in Yantai and Weihai, bringing new opportunities for the development of processing trade in the province.

People's Daily Online --- http://www.peopledaily.com.cn/english/