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Shanghai Port Reports Slower Growth in Processing Trade Import
Imports by processing trade through Shanghai Port totaled 9.91 billion US dollars during the January-July period, up 5.3 percent over the same period of last year, or a drop of 46.6 percentage points in growth rate for the corresponding period of last year.
According to statistics released by local customs, processing trade export increased by 17.6 percent to 16.52 billion US dollars, down by 1.1 percentage points over the corresponding period of last year.
Experts with local customs said the slow growth rate indicates reduced overseas demand, indicating that the impact on processing trade will continue for a period of time.
Imports and exports by general trade, however, have maintained a stable growth with overall foreign trade valued at 69 billion U. S. dollars during January and July, up 15.8 percent over the same period of last year.
Machinery and electronic products continue to play a leading role in China's foreign trade, totaling 16.6 billion US dollars in export, or 42.8 percent of the overall export through the port during the seven month period.
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