From January to November, the foreign trade value in Shandong province increased by 13.5 percent year-on-year, reaching 3 trillion yuan ($430.2 billion), according to local customs authorities.

During this period, the province's exports hit 1.82 trillion yuan, up 16.3 percent, while its imports reached 1.18 trillion yuan, up 9.4 percent.

Shandong's general trade of imports and exports reached 1.97 trillion yuan, up 12.6 percent, accounting for 65.7 percent of the province's total.

An employee loads cargo bound for South Africa at Qingdao Port in Shandong province. [Photo by Zhang Jingang/For China Daily]

The import and export value of Shandong's bonded logistics stood at 484.5 billion yuan, up 32.9 percent, while the figure for processing trade amounted to 455.59 billion yuan, up 10.7 percent.

Private enterprises continue to dominate the province's foreign trade sector. From January to November, the import and export volume of the province's private enterprises increased by 17.6 percent to 2.2 trillion yuan, accounting for 73.4 percent of the province's total.

The import and export volume of foreign-invested enterprises in Shandong stood at 540.35 billion yuan, a slight increase of 0.9 percent, while the figure for State-owned enterprises totaled 257.37 billion yuan, up 10.3 percent.

The Association of Southeast Asian Nations, the United States, the European Union, South Korea, Russia and Japan were Shandong's top six trade partners during this period.

Shandong's trade with countries and regions involved in the Belt and Road Initiative reached 1.16 trillion yuan, up 38.2 percent, and accounted for 38.5 percent of the province's total.