Foreign trade between Shenzhen and countries and regions under the Belt and Road Initiative (BRI) increased by 1.9 percent year on year to reach 603.2 billion yuan (US$92 billion) in the January-November period last year, according to recent statistics from Shenzhen Customs.
In November, foreign trade with countries and regions along the Belt and Road increased by 0.5 percent year on year to 66.6 billion yuan.
The Association of Southeast Asian Nations (ASEAN) remains the city’s most important trading partner and the biggest partner under the BRI.
In the first 11 months of last year, imports and exports with ASEAN totaled 424.9 billion yuan, an annual increase of 5.3 percent, making up 70 percent of the total trade of BRI countries. Trade with Vietnam and Thailand increased significantly.
In Nanshan fruit markets, fruit and produce from Sichuan, Yunnan and Yantai were exported to Thailand, the Philippines, Indonesia and Malaysia. By November, fruit exported through Qianhai Customs had reached 97,000 tons at a market value of US$200 million.
Private enterprises played a pivotal role in the city’s foreign trade, as trade volume for private firms with BRI countries reached 405.9 billion yuan in the first 11 months of 2020.
The exports of mechanical and electronic products to BRI countries made up 70 percent of the total exports to BRI countries. Computers, mobile phones and LCDs are favorites of BRI countries.
In the first 11 months of last year, the city imported 263.1 billion yuan worth of mechanical and electronic products and 20.4 billion yuan of agricultural produce from BRI countries.