China's Shandong posts strong trade growth in H1

Updated: July 21, 2022 Source: Xinhua News Agency
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JINAN, July 20 (Xinhua) -- East China's Shandong Province saw higher than expected foreign trade growth in the first half of 2022, local authorities said.

According to customs data, the province's import and export volume rose 17 percent year on year to 1.57 trillion yuan (about 232.7 billion U.S. dollars) from January to June, ranking sixth among all provincial-level regions in terms of the trade figure.

Exports soared 25.4 percent year on year to nearly 945 billion yuan, while imports rose 6.3 percent to 628.5 billion yuan.

Local private enterprises contributed 73.2 percent of the total trade, with their trade volume rising 22.6 percent year on year to 1.15 trillion yuan.

In the first half of the year, the province's trade with its top three trading partners, the Association of Southeast Asian Nations, the United States and the European Union, increased by 47.9 percent, 18.7 percent and 8 percent, respectively.

Shandong's trade with countries along the Belt and Road surged 35.7 percent while its trade with the members of the Regional Comprehensive Economic Partnership jumped 22.9 percent.

Editor: Su Dan