Shang­hai’s ex­ports, im­ports sur­pass na­tional av­er­age

China Daily (Canada) - - FRONT PAGE - By LI YANG in Shang­hai

liyang@chi­nadaily.com.cn Shang­hai’s to­tal ex­ports and im­ports hit 2.87 tril­lion yuan ($478 mil­lion) last year, up 4.6 per­cent year-on-year and 2.3 per­cent­age points higher than na­tional av­er­age, Shang­hai cus­toms said.

The city’s ex­port value reached 1.29 tril­lion yuan, up 1.9 per­cent year-on-year, and its im­port value was 1.58 tril­lion yuan, 6.9 per­cent higher than 2013, said Zheng Ju­gang, deputy-direc­tor of Shang­hai cus­toms.

This is the first time Shang­hai’s for­eign trade in­creased faster than the na­tional av­er­age since 2010, thanks to the con­tri­bu­tion of Shang­hai Free Trade Zone, which was cre­ated in late 2013 to pro­mote in­ter­na­tional trade, fi­nan­cial and gov­ern­ment re­forms.

Statis­tics show the FTZ’s im­port and ex­port to­tal was 762.38 bil­lion yuan, or 26.6 per­cent of the city’s to­tal for last year, up 8.3 per­cent yearon-year, and 3.7 per­cent­age points higher than the growth of the city’s im­port and ex­port. And 46.7 per­cent of Shang­hai’s for­eign trade growth last year comes from the FTZ.

Zheng Ju­gang re­leased the boom of lo­cal trade en­ter­prises is an­other booster for the fast rise of Shang­hai’s ex­port and im­port last year, when Shang­hai’s gen­eral trade, which ac­counts for the 47.2 per­cent of the to­tal trade, hit 1.35 tril­lion yuan, up 8.1 per­cent yearon-year. The city’s pro­cess­ing trade, which ac­counts for 27.6 per­cent of the to­tal, hit 792.43 bil­lion yuan, up 148.3 per­cent year-on-year.

“The growth of gen­eral trade shows Shang­hai has a stronger ini­tia­tive in for­eign trade. More and more en­ter­prises can de­cide on their own how to process, rather than fol­low­ing or­ders of for­eign com­pa­nies,” said Liang Dan­hong, head of the statis­tics di­vi­sion of the Shang­hai cus­toms.

“The ro­bust growth of the pro­cess­ing trade means the added value of the city’s pro­cess­ing trade in­creases fast, be­cause the en­ter­prises’ tech­niques and prod­uct qual­ity are in­creas­ingly ac­knowl­edged by the world mar­ket,” Liang added.

The in­crease of lo­cal trade en­ter­prises’ power boosts the up­grad­ing of the im­por­t­ex­port com­mod­ity struc­ture. Ac­cord­ing to cus­toms, elec­tronic in­for­ma­tion fa­cil­i­ties, and bio­med­i­cine prod­ucts were Shang­hai’s fastest-grow­ing ex­port com­modi­ties last year. The val­ues of the ex­port mo­bile phone and medicines are 78.95 bil­lion yuan and 14.36 bil­lion yuan, up 53.7 per­cent and 5.2 per­cent year-onyear re­spec­tively.

Shang­hai is a na­tional dis­tribut­ing cen­ter for im­ported con­sump­tion com­modi­ties, which reached 275.18 bil­lion yuan last year, up 18.2 per­cent year-on-year, which ac­counts for 29.4 per­cent of the na­tional to­tal, and con­trib­utes to 41.8 per­cent of the city’s im­por­t­ex­port growth last year.

The global econ­omy will con­tinue to re­cover this year. The In­ter­na­tional Mon­e­tary Fund raised its pre­dic­tion of world eco­nomic growth this year to 3.8 per­cent from 3.3 per­cent. De­spite this, Shang­hai still faces some trade prob­lems.

“Shang­hai’s im­port and ex­port mainly rely on the Euro­pean Union, the United States and Ja­pan. But the EU and Ja­pan’s re­cov­ery are still weak. Th­ese economies’ fluc­tu­a­tion will have an ob­vi­ous in­flu­ence on Shang­hai’s trade,” said Zheng Ju­gang. “The en­ter­prises hav­ing for­eign in­vest­ment still oc­cupy the dom­i­nant po­si­tion in Shang­hai’s for­eign trade, and the la­bor-in­ten­sive in­dus­tries re­main the main force in Shang­hai’s ex­port.”

Geodis Wil­son Shang­hai Limited’s ware­house

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