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Shanghai's Processing Imports Decline
The processing imports of Shanghai, China's leading industrial center, dropped by 48 percentage points in the first three quarters compared with the same period last year, according to recent custom's statistics.
This affects Shanghai's processing trade and its exports, said a municipal foreign trade official.
Shanghai's imports and exports totaled 91 billion U.S. dollars, of which, 51.3 billion dollars were exports and 39.6 billion dollars imports, both rising 14 percent.
Asia, North America and Europe absorbed 90 percent of Shanghai' s exports. But, the growth rate of the city's exports to Japan and the United States declined even though exports to the two countries went up by 13 percent in the first nine months of this year.
Importation of integrated circuits, soy beans, waste steel and telephone exchange systems increased by a big margin while exportation of medical instruments and television sets went up by 50 percent.
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