Xiamen sees foreign trade surge in Jan-Feb
Xiamen city is on a roll when it comes to imports and exports. It reports a surge in its foreign trade in the first two months of the year. [Photo/xmnn.cn]
The coastal city of Xiamen – located in East China's Fujian province – reported strong growth in its foreign trade in the first two months of this year, according to statistics released by the city's customs authorities.
Official data showed that the total value of foreign trade in Xiamen increased 33.6 percent year-on-year in January and February to 120.24 billion yuan ($18.49 billion), 1.4 percentage points higher than the national average growth rate.
The city's exports were valued at 60.95 billion yuan in the two-month period, up 41.2 percent year-on-year, while imports increased 26.7 percent year-on-year to 59.29 billion yuan.
Statistics showed that the city's private sector made up the bulk of Xiamen's foreign trade in the period. Private enterprises in Xiamen reported total foreign trade worth 45.53 billion yuan, up 64.9 percent year-on-year and accounting for 37.9 percent of the city's total.
The Association of Southeast Asian Nations was Xiamen's largest trade partner last year, followed by the Unites States and the European Union, accounting for 42.5 percent of the city's total foreign trade.
Xiamen also witnessed growth in trade with countries participating in the Belt and Road Initiative, with the total value growing by 35 percent to 37.42 billion yuan in January-February.
Data showed that mechanical and electrical products and labor-intensive products were Xiamen's main exports in the first two months and imports of bulk commodities showed good growth in January and February.
Xiamen is one of the most economically competitive cities in China and was one of the first Special Economic Zones on the Chinese mainland. As a vice-provincial city independently listed on the State development plan, it has provincial-level authority in economic administration and local legislative power. In 2010, the Xiamen SEZ was expanded to cover the entire municipality. Today, Xiamen is a modern and international port city.