SHENZHEN’S foreign trade reached a record high of 4.11 trillion yuan (US$560 billion) in the first 11 months of the year, a 17.4% leap year on year, data from the Shenzhen Customs showed Wednesday. This milestone marks the city’s first time surpassing the 4 trillion yuan threshold, underscoring its thriving trade dynamics.

Exports grew by 16% to 2.59 trillion yuan, while imports increased by 19.8% to 1.52 trillion yuan, both reaching a historic high.

Private companies accounted for 70.4% of the total foreign trade volume, amassing 2.89 trillion yuan, while foreign-invested companies contributed 1.02 trillion yuan, representing 24.9% of overall trade.

During the period, ASEAN, China’s Hong Kong, and the U.S. were Shenzhen’s top three trade partners, cumulatively accounting for 42.7% of the total. It is noteworthy that trade with countries involved in the Belt and Road Initiative (BRI) amounted to 1.43 trillion yuan, marking a 21.5% year-on-year increase, and trade with other member countries of the Regional Comprehensive Economic Partnership (RCEP) reached 1.14 trillion yuan, representing a 22.2% year-on-year increase.

Mechanical and electrical products dominated Shenzhen’s exports and imports, accounting for 70.4% and 79.7%, respectively.               (Han Ximin)