Foreign trade of China’s economic powerhouse hits record high

GUANGDONG Province, a powerhouse of China’s economy, has reported a new record in its foreign trade for the first three quarters of the year, with imports and exports reaching 6.75 trillion yuan (about US$951 billion), a year-on-year increase of 11.1 per cent. The province’s exports stood at 4.39 trillion yuan in the period, up 9.1 per cent year on year, while imports totalled 2.36 trillion yuan, a year-on-year growth of 15 percent, Zhang Ke, deputy director of the Guangdong sub-administration of the General Administration of Customs of China, said at a news conference on Monday. Guangdong’s foreign trade now represents 20.9 per cent of the nation’s total, maintaining its leading position with a major contribution to the nation’s growth. The province’s foreign trade growth rate outpaced the national average by 5.8 percentage points. The new historic high of Guangdong’s foreign trade scale for the same period has demonstrated the strong economic resilience and vitality of the province, Zhang said.

The city of Shenzhen, a national tech hub in Guangdong, also achieved a record high

with a total foreign trade volume of 3.37 trillion yuan for the same period, surging by 20.9 per cent year on year, according to Shenzhen customs. —Xinhua

Source- The Global New Light Of Myanmar