Shandong sees growing trade with RCEP members

(Xinhua)| Updated : 2022-04-26

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JINAN -- East China's Shandong province's trade with members of the Regional Comprehensive Economic Partnership (RCEP) expanded 20.9 percent year-on-year to 257.26 billion yuan ($39.26 billion) in the first quarter of 2022, said the Jinan Customs in the provincial capital.

Over the period, exports between Shandong and RCEP members grew 23.5 percent to 147.62 billion yuan while imports rose 17.6 percent to 109.64 billion yuan, the customs said.

The Republic of Korea, Japan, and Malaysia are the top three RCEP trading partners of Shandong, whose trade with Shandong accounts for 61 percent of the province's total trade with RCEP members.

Over the period, Shandong's imports and exports to those countries totaled 63.1 billion yuan, 47.03 billion yuan, and 46.83 billion yuan respectively, up 13 percent, 18.3 percent, and 65 percent.

A total of 24,000 certificates of origin under RCEP were also issued by authorities in the province.