GUANGDONG’S imports of electromechanical and energy products maintained double-digit growth in the first half of the year, indicating a strong economic rebound and local demand, the China Daily reported.

The province’s imports of mechanical and electrical products increased by 23.6% year-on-year in the first half of 2024, accounting for 64.2% of the province’s total import value, as per the statistics from Guangdong’s Customs.

Imported integrated circuits were valued at 527 billion yuan (US$73.2 billion), a year-on-year increase of 21.3%, while automatic data processing equipment and components amounted to about 105.6 billion yuan, up year-on-year by 6.9%. Imports of semiconductor manufacturing equipment grew 2.4 times to reach 29.5 billion yuan, the Customs said.

Meanwhile, from January to June, Guangdong’s imports of energy products, including coal, crude oil and natural gas, totaled 49.6 million metric tons, rose 38.9% from a year earlier, with a total value of 68.9 billion yuan, up 17.6% year-on-year.

Guangdong, China’s biggest foreign trader, maintained strong momentum with major trading partners during this period. The province’s foreign trade with its top five trading partners — Association of Southeast Asian Nations, the Hong Kong SAR, the United States, the European Union and China’s Taiwan grew 12.3%, 16.9%, 10.6%, 7.1% and 17.2% respectively in the first six months.

Guangdong’s foreign trade with countries involved in the Belt and Road Initiative reached 1.64 trillion yuan in the same period, up 12%, while its foreign trade with the Regional Comprehensive Economic Partnership (RCEP) member countries amounted to 1.24 trillion yuan, a year-on-year growth of 12.5%.

Guangdong’s total foreign trade, comprising more than 1/5 of the country’s total, reached 4.37 trillion yuan in the first six months, up 13.8% year-on-year and 7.7 percentage points higher than the country’s average.

Guangdong, which relies heavily on its foreign trade for overall economic growth, imported products valued at 1.52 trillion yuan from January to June, up 17.1% year-on-year, while it sold commodities valued at 2.85 trillion yuan abroad, up 12.1% year-on-year.(SD-Agencies)