SHANGHAI saw its foreign trade grow 5.3% year on year to 3.46 trillion yuan (US$483 billion) in the first 10 months of this year, local customs said yesterday.

Of the total, Shanghai’s exports reached 1.41 trillion yuan, up 12.5%, while its imports grew 0.9% to hit 2.05 trillion yuan in the January-October period.

The eastern China municipality’s trade volume during the period accounted for about 10% of China’s total, Shanghai customs said.

Shanghai’s foreign-funded enterprises contributed 61.2% of its foreign trade value, while imports and exports of its private sector gained 13.6% year on year to become the city’s important growth engine for foreign trade.

During the period, Shanghai’s imports and exports to countries along the Belt and Road reached around 783 billion yuan, up 6.8%. Trade with the Association of Southeast Asian Nations (ASEAN) rose 6.6% to reach about 467 billion yuan.

Notably, its exports of new energy products sustained a sound growth momentum during the first 10 months. (Xinhua)