Shenzhen's foreign trade up 2.4 percent in 2020

Shenzhen's foreign trade grew by 2.4 percent, year on year, to reach 3.05 trillion yuan (about 473 billion U.S. dollars) last year, local customs said on Tuesday.

Exports rose by 1.5 percent, year on year, to 1.7 trillion yuan and imports grew by 3.6 percent, year on year, to 1.35 trillion yuan, Shenzhen Customs said.

Private companies helped stabilize foreign trade, contributing 1.81 trillion yuan in exports and imports, a year-on-year increase of 5.7 percent.

As more people work from home or entertain online during the pandemic, there was a strong demand for electronic products, thus boosting exports of these products.

Shenzhen's computer, audio and video equipment, home appliance, and video game console exports jumped by 7.9 percent, year on year, to 317.3 billion yuan last year.

The city's trade with countries participating in the Belt and Road Initiative rose by 2.1 percent, year on year, to 673.47 billion yuan. It was a record high since the initiative was proposed in 2013.