Shanxi's H1 foreign trade growth ranks among top 3 in China

(chinadaily.com.cn)

Updated: 2021-07-27

The imports and exports of North China's Shanxi province reached 113.03 billion yuan ($17.45 billion) in the first half of 2021, representing year-on-year increase of 108.4 percent and achieving a growth rate that ranked it third in the country.

According to provincial customs department in Taiyuan city, respectively, exports came in at 68.79 billion yuan and imports were 44.24 billion yuan during the first six months.

The monthly growth rate in the value of Shanxi's foreign trade was among the highest in the country. For June alone, total imports and exports were worth 22.24 billion yuan, an increase of 98.3 percent year-on-year and reaching a record high in a single month for Shanxi's foreign trade.

During the first half of the year, Shanxi's top three trading partners were the United States, Japan and the ASEAN member countries.

In the same period, the foreign trade value with countries and regions involved in the Belt and Road Initiative (BRI) totaled 26.09 billion yuan, up 107.5 percent year-on-year.

Meanwhile, the value of foreign trade with RCEP trading partners was 36.54 billion yuan, an increase of 134.5 percent.

Among export commodities, mobile phones, integrated circuit parts, solar cells, ceramics products and glassware all reportedly achieved substantial growth.

The mix of imported products changed significantly, with imports of high-tech products, integrated circuits, machine tools, fresh and dried fruits and nuts increasing significantly.

The significant increase in imports and exports in the period was mainly attributed to Shanxi's deeper integration with the BRI and the improved levels of its opening-up.

Taiyuan Customs supervised 87 China-Europe freight trains loaded with goods worth 50.58 million yuan during the first half.

The province carried out economic and trade exchanges with 63 countries involved in the BRI during the period. Among these, imports and exports with Laos, Mongolia, Serbia, Bulgaria, Kyrgyzstan, Tajikistan, Bosnia and Herzegovina increased tenfold.

Shanxi's traditional manufacturing industries – including ceramics, glassware and fertilizers – were revitalized thanks to the opportunities brought about by the BRI.