Quanzhou sees robust growth in foreign trade
Quanzhou's import and export volume stood at 76.6 billion yuan ($11.4 billion) in the first five months of this year, up 10.8 percent year-on-year, as per statistics from Quanzhou Customs.
The figure outpaced both the national and provincial growth rates over the period, which stood at 4.1 percent and 6.1 percent respectively.
ASEAN and the European Union were Quanzhou's two largest trading partners.
From January to May, the city's trade value with the two blocs reached 14.265 billion yuan and 9.926 billion yuan, respectively, up 34 percent and 11.1 percent.
Affected by Sino-US trade frictions, Quanzhou's trade volume with the US increased only 0.9 percent to 8.12 billion over the period, with imports slumping by 42.4 percent to 860 million yuan.
The role of the private sector in foreign trade is on an upward trajectory. In the first five months of this year, imports and exports among private businesses in Quanzhou soared 21.5 percent to 41.98 billion yuan, accounting for 54.8 percent of the city's total over the period.
Quanzhou's import and export volume records 76.6 billion yuan ($11.4 billion) in the first five months of this year, up 10.8 percent year-on-year. [Photo provided to chinadaily.com.cn]