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BackShanghai's import and export volume to ASEAN exceeded 540 billion yuan in the first eight months of this year
Shanghai's import and export volume to ASEAN exceeded 540 billion yuan in the first eight months of this year
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中国新闻网1 hour agoBusiness2 min readChinaView original

Shanghai's import and export volume to ASEAN exceeded 540 billion yuan in the first eight months of this year

ASEAN has maintained its position as Shanghai’s largest trading partner for four consecutive months since May.

Quick Look

  • According to data released by Shanghai Customs on the 17th, Shanghai’s import and export volume to ASEAN in the first eight months of this year was 546.2 billion yuan, a year-on-year increase of 30.6%.
  • ASEAN has maintained its status as Shanghai’s largest trading partner for four consecutive months.
  • During the same period, Shanghai's import and export volume reached 3.44 trillion yuan, an increase of 17.1%.

AI-generated summary

Why It Matters

In the first eight months of this year, Shanghai's foreign trade was stable and improving, and the import and export of various high-tech products and new energy products maintained growth.

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China News Service, Shanghai, September 17 (Reporter Jiang Yu) According to statistics released by Shanghai Customs on the 17th, in the first eight months of this year, Shanghai's import and export volume to ASEAN was 546.2 billion yuan (RMB, the same below), a year-on-year increase of 30.6%. ASEAN has maintained its status as Shanghai's largest trading partner for four consecutive months since May.

In the first eight months of this year, Shanghai's cumulative import and export volume reached 3.44 trillion yuan, an increase of 17.1%, and foreign trade operations maintained a steady and positive trend. In August, Shanghai overcame the adverse effects of two rounds of typhoons, and its foreign trade continued its growth momentum in the previous seven months, with import and export volume reaching 439.43 billion yuan, an increase of 13.1%.

According to statistics, as China has implemented zero-tariff measures with 53 African countries that have diplomatic relations with China since May, Shanghai's imports from Africa in August were 53.62 billion yuan, an increase of 21.8%, and the dividends of the zero-tariff policy continue to be released. During the same period, exports to the United States were 164.69 billion yuan, an increase of 13.2%, and have maintained a growth trend since April.

In the first eight months of this year, the total import and export volume of five categories of artificial intelligence-related products, including integrated circuits, servers, memory, hard disks, and semiconductor manufacturing equipment, reached 857.87 billion yuan, an increase of 90.7%, accounting for 24.9% of Shanghai's total import and export value during the same period. During the same period, the export value of the "three new products" (new energy vehicles, lithium batteries and photovoltaic products) was 173.88 billion yuan, an increase of 78.2%. In terms of imports, the import value of metal ores and ores was 147.76 billion yuan, an increase of 3.9%; the total import value of crude oil and natural gas energy products was 15 billion yuan, an increase of 18.9%. (over)

Open Questions

  • Will ASEAN be able to maintain its status as Shanghai's largest trading partner in the coming months?
  • Is the high export growth of the new three products sustainable?

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This article was originally published by 中国新闻网.

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