Shanghai Foreign Trade up 51.8 Percent

Shanghai's foreign trade in January-August brought in 69.663 billion U.S. dollars, an increase of 51.8 percent over the same period last year, customs statistics indicated.

"Greater need for foreign equipment, increased attacks on smuggling and an increase in Asian market demand have contributed to the rise in the city's foreign trade volume," according to a customs report.

During the eight month period, imports hit 30.509 billion U.S. dollars and exports climbed to 39.154 billion U.S. dollars, up 61.2 percent and 45.2 percent respectively.

Customs officials said both general trade and processing trade increased rapidly. Meanwhile, exports to Japan, Hong Kong, the Republic of Korea and North America kept growing with strong momentum.

The import of electric machinery, raw materials and crude oil and oil products increased remarkably. Exports of electric machinery and textiles saw a sharp increase as well.

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