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Shanghai's Pudong Reports Foreign Trade Surge
The Pudong New District in the Shanghai Municipality, considered one of China's most dynamic economic powerhouses, scored a 26-percent growth in foreign trade in the first six months of the year.
Local customs statistics show that from January to June, the district completed 14.27 billion U.S. dollars worth of foreign trade, up 26 percent from the same period last year. In the breakdown, exports totaled 5.54 billion U.S. dollars, and imports reached 8.73 billion U.S. dollars, up 31.5 percent and 22.8 percent, respectively.
The district's exports during the six months accounted for 40 percent of Shanghai's total and imports contributed to 55 percent of the municipality's total, according to customs sources.
Overseas financed ventures played a major role in boosting the district's foreign trade.
Experts attributed the district's steady increases in imports and exports to its competitive commodity structure for foreign trade. Imports and exports of electromechanical products, automatic data processing equipment and accessories, integrated circuits and micro-electronic components, and textiles and garments increased by an average of 20 percent from January to June.
Japan, the United States and Hong Kong were among the main overseas trading partners for the Pudong New District.
The volume of foreign trade between the Pudong New District and Japan stood at 2.89 billion U.S. dollars in the first six months of the year, up 26.4 percent. During the same period, Pudong exported 1.05 billion U.S. dollars worth of commodities to the United States, up 20.3 percent, and imported 1.19 billion U.S. dollars worth of commodities from the U.S., down by 9.3 percent.
From January to June, Pudong shipped 700 million U.S. dollars worth of commodities to Hong Kong and bought 500 million U.S. dollars worth of commodities from Hong Kong, up 91.3 percent and 42 percent, respectively.
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