A container ship berths at the Yangshan Port in Shanghai. [Photo by Zhu XingXin/China Daily]
The Yangtze River Delta region’s annual imports and exports reached 16.01 trillion yuan ($2.2 trillion) in 2024, according to Shanghai Customs.
This is a 5.6 percent year-on-year increase and accounts for 36.5 percent of the national total, a slight increase from 36.3 percent in 2023.
Exports from the region totaled 9.95 trillion yuan, up 8.2 percent year-on-year, while imports reached 6.06 trillion yuan, rising 1.5 percent. These figures account for 39.1 percent and 32.9 percent of total national exports and imports, respectively.
Mechanical and electrical products remained the region’s largest export category. In 2024, exports of these products totaled 5.96 trillion yuan, accounting for 60 percent of the region’s total exports and reflecting an 8.7 percent year-on-year increase.
Notable contributions came from integrated circuits, ships, and automobiles, with exports reaching 455.35 billion yuan, 198.17 billion yuan, and 326.08 billion yuan, respectively.
The region also witnessed significant growth in exports of high-end equipment, pharmaceutical products, and high-tech products. These sectors saw year-on-year increases of 61.7 percent, 11.4 percent, and 3.8 percent, reaching 261.16 billion yuan, 73.92 billion yuan, and 2.23 trillion yuan, respectively.
The Yangtze River Delta region expanded trade with key partners, including countries involved in the Belt and Road Initiative, the Regional Comprehensive Economic Partnership, and other BRICS nations.
Private enterprises played a crucial role in driving the region’s foreign trade growth. In 2024, their imports and exports were valued at 8.69 trillion yuan, an 8.2 percent year-on-year increase, representing 35.7 percent of the national total among private enterprises.
Source: Shanghai Observer
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