business

China’s Shandong sees foreign trade up 5.8 pct in Jan.-Oct.

JINAN, Nov. 10 (Xinhua) — East China’s Shandong Province saw its foreign trade grow by 5.8 percent year on year to 1.76 trillion yuan (about 266.3 billion U.S. dollars) in the first 10 months of 2020, customs statistics show.

The province’s exports increased 13.3 percent year on year to 1.02 trillion yuan during the 10-month period, while its imports saw a 3.1-percent decline to 742.38 billion yuan, according to Qingdao Customs.

In October, Shandong’s foreign trade grew by 19.2 percent year on year to 206.82 billion yuan, the second highest in history.

The foreign-trade volume between Shandong and ASEAN reached 231.86 billion yuan from January to October, surging 23.8 percent year on year. The province also saw double-digit growth in trade with the European Union and the United States during the period.

Shandong’s trade with Belt and Road countries topped 528.86 billion yuan in the first 10 months of the year, up 10.5 percent year on year, accounting for 30 percent of its total foreign trade.

The province’s imports of semiconductor manufacturing equipment, as well as cosmetic and personal-care products, were more than doubled during the period, Qingdao Customs said.

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