Shenzhen's trade with the countries along the Belt and Road in March increased by 9.5 percent to 52.05 billion yuan (US$7.35 billion), turning around the downward momentum of 8.7 percent in the first two months, statistics released by the Shenzhen Customs showed.
Imports increased by 22.3 percent to 27.75 billion yuan.
Among the Belt and Road countries, trade with ASEAN countries, the city’s biggest trade partner within the Belt and Road Initiative, was prominent in the first quarter. Statistics showed trade with ASEAN countries increased by 6 percent in the first quarter, compared with the same period last year. The trade also picked up to 22.1 percent in March, pulling up 14.5 percentage points of the city’s trade with Belt and Road countries.
Private enterprises showed strong resilience in trade in March. Statistics showed trade of private enterprises with Belt and Road countries increased by 11.8 percent. It is the fastest growing business entity, and is 2.3 percentage points higher than the city’s trade growth average with those countries.
Of the exported products, electromechanical products accounted for more than 70 percent, in which export of data processing equipment and spare parts like computers greatly increased.
The import of electromechanical products was 59.24 billion yuan, up 15.3 percent, accounting for 86.7 percent of the city’s import in the first quarter, statistics showed.