​Jining's foreign trade in July the highest of the year

(chinadaily.com.cn)| Updated : 2021-08-30

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The foreign trade volume of Jining, which is located in East China's Shandong province, reached 34.6 billion yuan ($5.35 billion) in the first seven months of 2021, up 36 percent year-on-year, according to the city's customs.

Its imports and exports from January to July reached 11.8 billion yuan and 22.9 billion yuan, an increase of 25.9 percent and 41.9 percent year-on-year respectively.

In July alone, Jining's foreign trade hit 6.31 billion yuan, up 76 percent year-on-year, representing both the highest volume and growth rate in the year. Imports and exports in July totaled 2.24 billion yuan and 4.07 billion yuan, up 56.7 percent and 88.8 percent year-on-year respectively.

Private companies in the city contributed 75.3 percent of the total foreign trade volume during the first seven months. Their imports and exports reached 26.1 billion yuan, up 39.2 percent year-on-year. Foreign-invested companies in Jining saw their foreign trade rise by 31.1 percent year-on-year to 6.7 billion yuan.

The top five largest trading partners of Jining are the Association of Southeast Asian Nations, the European Union, the United States, Japan, and South Korea. The trading volume between Jining and the US experienced an 86.5 percent year-on-year growth, the highest among the five regions.

Mechanical and electrical products are one of the major trade products, accounting for 24.9 percent of Jining's total imports and 40.8 percent of the total exports.

Jining customs has implemented a number of measures to bolster the city's foreign trade and streamline customs clearance. It has also held many activities to explain the latest policies regarding Authorized Economic Operators, the Regional Comprehensive Economic Partnership, tax reduction, and cross-border e-commerce.