Xiamen foreign trade grows 8.4% in Jan-June
In the first half of this year, Xiamen, a coastal city in East China's Fujian province, registered a total of 480 billion yuan ($67.16 billion) in foreign trade, an 8.4 percent year-on-year increase.
The city's imports were worth 256.71 billion yuan, up 18.2 percent year-on-year, whereas exports totaled 223.29 billion yuan, a slight decline of 1.1 percent year-on-year.
The import and export volume of private enterprises in Xiamen soared 26.2 percent year-on-year to 212.29 billion yuan, accounting for 44.2 percent of the city's total foreign trade value. State-owned and foreign-invested enterprises accounted for 35.5 percent and 20.2 percent of the total foreign trade respectively.
The exports were dominated by electromechanical goods, which totaled 110.35 billion yuan and made up 49.4 percent of the city's total export value. Labor-intensive goods followed at 57.25 billion yuan, or 25.6 percent of total exports.
Metal ores were the most imported goods, totaling 54.2 billion yuan and constituting 21.1 percent of the total import value. This was followed by agricultural and electromechanical products at 43.7 billion yuan and 42.07 billion yuan respectively.
The Association of Southeast Asian Nations (ASEAN), the European Union (EU), and the United States were Xiamen's top trading partners. Trade volume between them and Xiamen were 85.46 billion yuan, 67.51 billion yuan, and 56.11 billion yuan respectively.
Trade between Xiamen and other BRICS countries also grew significantly, with imports increasing by 62.5 percent year-on-year to 41.39 billion yuan and exports by 15.6 percent year-on-year to 14.73 billion yuan.
Xiamen Port. [Photo/Xiamen Daily]
Why Xiamen
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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.