Yangtze River Delta region's imports, exports grow

The total import and export value of the Yangtze River Delta region grew by 5.8 percent year-on-year to hit a new record of 9.1 trillion yuan ($1.3 trillion) during the first seven months of the year, according to the data released by the Shanghai Customs on Sunday.

The region, which contributed about 24 percent to China's GDP in 2023, accounted for 36.7 percent of the country's total import and export value in the first seven months of the year.

Nearly 181 billion yuan worth of cars were exported from the region during the monitored period, up 2.7 percent year-on-year and accounting for 39 percent of the country's total. The export value of ships spiked 79 percent from a year earlier to top 111.4 billion yuan, accounting for 64.1 percent of China's total.

High-tech companies based in the Yangtze River Delta region exported 1.2 trillion yuan worth of products during the first seven months, up 4.4 percent year-on-year. The value was equal to 34.8 percent of China's total high-tech product export value registered during the same period, according to the Shanghai Customs.

The region's total import and export value with countries included in the Belt and Road Initiative jumped 7.7 percent year-on-year to 4.06 trillion yuan in the first seven months. The import and export value with other Regional Comprehensive Economic Partnership (RCEP) member countries rose 4.9 percent year-on-year to 2.77 trillion yuan while that with other BRICS members also grew 8.3 percent on a yearly basis to 1.21 trillion yuan.

It should be noted that private enterprises in the Yangtze River Delta region have been playing an important role for boosting foreign trade, according to the Shanghai Customs. These companies conducted 4.89 trillion yuan worth of imports and exports in the past seven months, up 9 percent year-on-year.