Quanzhou's foreign trade expands 13.66 percent in H1
Quanzhou's import and export volume reaches 95.747 billion yuan in the first half of this year. [Photo provided to chinadaily.com.cn]
Quanzhou's import and export volume reached 95.747 billion yuan in the first half of this year, according to statistics from Quanzhou Customs.
The figure represents an uptick of 13.66 percent year-on-year, 9.76 percentage points faster than the national average growth rate over the six-month period.
The role of the private sector in foreign trade is on an upward trajectory in Quanzhou.
In the first six months of this year, imports and exports among private businesses in Quanzhou expanded 20.19 percent, accounting for 54.15 percent of the total recorded in the province.
The city's trade with ASEAN and the European Union showed strong growth.
Its trade with ASEAN stood at 17.689 billion yuan, up by 37.5 percent while the number with the EU was12.646 billion yuan, registering a yearly uptick of 10.2 percent
Affected by Sino-US trade frictions, Quanzhou's trade volume with the US edged up only 1.93 percent to 10.161 billion over the period, with imports slumping by 42 percent to 968 million yuan.
Meanwhile, trade with countries involved in the Belt and Road Initiative increased 16.4 percent, accounting for 49.4 percent of the total.
Exports of mechanical and electrical products and labor-intensive products continued to grow, while the import demand for agricultural products and consumer goods also remained strong.