Shenzhen’s foreign trade recovery continued in July, with imports and exports increasing by 4.2% year on year to 293.2 billion yuan (US$42.67 billion), customs data showed. From January to July, cargo imports and exports reached 1.91 trillion yuan, up 1.8% over the same period last year.

The Shekou Container Terminal in Nanshan District. File photo

In the past seven months, the general trade, which involves longer industrial chains and products of higher added value, topped 967.89 billion yuan, up 1.7% year on year and accounting for 50.7% of the total.

The foreign trade through bonded logistics amounted to 455.5 billion yuan, up 5.8% year on year and making up 23.9% of the total.

During the period, the city posted an increase of 4.6%, 6.6%, 12.6%, respectively, in trade with Regional Comprehensive Economic Partnership (RCEP) countries, Belt and Road countries, and central and eastern European countries.

Exports of mechanical and electrical products reached 851.5 billion yuan, up 6% year on year and accounting for 78.4% of the city’s total exports in the past seven months.

Mechanical and electrical products also remained the main force in imports, accounting for 80% of the city’s total imports in the past seven months. Products, such as integrated circuit, automatic data processing equipment and spare parts, diodes, electrical materials, capacitors, and audio-video equipment and spare parts, were most imported.

Shenzhen Qianhai Comprehensive Bonded Zone, which was established two years ago, posted an increase of 49.6% year on year in foreign trade from January to July, which totaled 117.5 billion yuan. The zone is now home to five enterprises generating more than 10 billion yuan of foreign trade annually each and 15 enterprises with an annual foreign trade value of 1 billion yuan each.

(Source | Shenzhen Daily)