According to Tai'an customs' statistics, the city's growth rates ranked second in Shandong and the total import and export value reached 23.34 billion yuan ($3.43 billion) in the first 10 months of this year, up 63.1 percent over the same period from last year.

The city's export value grew by 53.2 percent to a total of 15.77 billion yuan while imports increased by 88.5 percent to a total of 7.57 billion yuan in the first 10 months of this year.

The imports and exports of private enterprises during the same period in Tai'an reached 16.1 billion yuan, which is an increase of 49.5 percent year on year, accounting for 69 percent of the city's total.

The imports and exports of state-owned enterprises and foreign-invested enterprises have reached 3.62 billion yuan and 3.62 billion yuan, respectively, which is an increase of 44.4 percent and 250 percent year on year.

From January to October, Tai'an's trade to Southeast Asia reached 3.58 billion yuan, up 110 percent year on year, and trade to Latin America reached 3.11 billion yuan, up 110 percent year on year.

Exports of mechanical and electrical products in Tai'an reached 5.41 billion yuan, which is a year-on-year increase of 91.8 percent.

Imports of metal ore products in Tai'an reached 2.53 billion yuan, which is an increase of 94 percent, and the imports of copper materials increased by 179.8 percent year on year.