Shandong foreign trade up 36% in first 10 months

(| Updated : 2021-11-10

Print Print


Customs officers verify documentation related to foreign trade containers at an international container terminal of Yantai Port in Shandong province on Oct 12. [Photo by Tang Ke/for China Daily]

East China's Shandong province generated around 2.39 trillion yuan (about $373.32 billion) in imports and exports in the first 10 months of this year, up 36 percent year-on-year and 43.2 percent higher than the same period in 2019, according to statistics from local customs authorities.

During this period, ASEAN, the United States, the European Union, South Korea, Japan and Brazil were the top six trading partners of Shandong, accounting for 56.9 percent of the province's total foreign trade value.

In the first 10 months, Shandong's imports and exports related to countries involved in the Belt and Road Initiative reached 748.37 billion yuan, up 42 percent, accounting for 31.4 percent of the province's total. Its trade with other RCEP members reached 837.22 billion yuan, up 36.7 percent and accounting for 35.1 percent of the province's total.

Private businesses have continued to play a key role in boosting the province's foreign trade. During this period, the imports and exports of private enterprises in Shandong reached 1.69 trillion yuan, up 38.9 percent and accounting for 70.6 percent of the province's total.

Meanwhile, imports and exports of foreign-invested enterprises reached 485.69 billion yuan, up 25.7 percent, while the figure of State-owned enterprises reached 212.99 billion yuan, up 38.9 percent.