QINGDAO reported trade volume of over US$40 billion in the first nine months of this year, a 28.7 percent increase over last year, Qingdao Customs said.

    The city’s exports in the first nine months grew by 25.5 percent to around US$24 billion while imports reached about US$16 billion, a 33.6 percent year-on-year increase.

    The city registered trade volume of over US$5.1 billion in September, the record for a single month.

    Qingdao’s foreign trade has recovered from the global financial crisis, according to the city’s commerce bureau.

    The city’s exports to emerging and surrounding markets rose rapidly by 41.8 percent to US$5.42 billion in the first nine months of the year.

    The city’s exports to traditional markets in the first nine months grew by 17.8 percent to more than US$16 billion.

    The United States has replaced South Korea to become Qingdao’s biggest foreign trade partner.

    (Li Hao)