According to Dongying Customs, Dongying achieved an international trade value of 135.91 billion yuan ($18.78 billion) in the first half of this year, exceeding 130 billion yuan for the first time and reaching a historic high for the same period.
In the first half of this year, Dongying's international trade value secured the fourth position within Shandong province. The figure represents a 13.9 percent year-to-year increase, placing Dongying fourth in the province and exceeding the provincial average by 9.6 percentage points.
The average monthly international trade volume exceeded 22 billion yuan, setting a historic high for the same period.
Private enterprises dominate foreign trade, accounting for 86.1 percent of Dongying's total trade in the first half of this year, with 117.07 billion yuan in imports and exports, a 2.4 percent increase. State-owned enterprises, however, saw a significant rise of 398.6 percent, totaling 17.61 billion yuan and representing 13 percent of the total trade value.
Bonded logistics led in foreign trade, while processing trade saw substantial growth. In the first half of this year, Dongying's bonded logistics reached 63.3 billion yuan, up 60.8 percent and 46.6 percent of the city's total trade. Processing trade surged to 16.35 billion yuan, marking a 100.2 percent increase.
Russia and ASEAN are Dongying's main trade partners. In the first half of this year, Dongying had imports and exports, with Russia totaling 52.77 billion yuan, up 19.6 percent. Trade with ASEAN amounted to 40.2 billion yuan, up by 2.6 percent and 29.6 percent of the total. During the same period, Dongying's trade with countries involved in the Belt and Road Initiative totaled 112.82 billion yuan, up by 10.9 percent; trade with the other 14 RCEP member countries, excluding China, amounted to 43.9 billion yuan, up by 4.2 percent.
