THE city’s foreign trade reached 1.68 trillion yuan (US$235 billion) in the first half of the year (H1), up by 3.7% year on year, posting a growth rate higher than the national average, data from Shenzhen Customs showed Monday.

Exports grew by 14.4% amounting to 1.05 trillion yuan, while imports reached 628.49 billion yuan, indicating an upward trajectory,  strong economic resilience, and great potential and vitality, according to customs. In June alone, foreign trade posted a 5.3% growth year on year, reaching 322.97 billion yuan, showing a sign of further steady growth.

The scale of private enterprises’ imports and exports grew notably in H1, becoming a major driving force for the growth of the city’s total foreign trade. Dynamic private enterprises, with micro, small and medium-sized firms playing a leading role, contributed 1.07 trillion yuan, or 64%, to the city’s total foreign trade in H1, which drove a growth of 5.6 percentage points in Shenzhen’s foreign trade.

Meanwhile, foreign-invested enterprises and State-owned enterprises achieved imports and exports worth 498 billion yuan and 103.4 billion yuan, respectively.

In the past six months, Shenzhen’s top trading partners were China’s Hong Kong, ASEAN countries, the EU and the U.S., with imports and exports amounting to 273 billion yuan, 256.41 billion yuan, 190.49 billion yuan, and 176.25 billion yuan, respectively. The growth rates were 3.1%, 4.1%, 12.7%, and 2.7%, respectively. The total volume accounted for 53.5% of the city’s total foreign trade.

Imports and exports with India, Australia and the U.K. increased rapidly, while trade with Belt and Road countries stood at 425.84 billion yuan, which made up of 25.4% of the city’s total foreign trade.

Exports of electromechanical products accounted for over 74.9% of the city’s total exports in H1, increasing by 9% year on year. In terms of imports, electromechanical products accounted for over three quarters, with growth seen in imports of gold and agricultural products.

(Han Ximin, Yang Jie)