Guangdong foreign trade steady in February

Foreign trade in south China's Guangdong Province remained steady in February, authorities said on Monday.

Guangdong's total foreign trade contracted by 3.4 percent year on year in January and February. Excluding the Spring Festival holiday period, the province's foreign trade grew 3.2 percent year on year in February, and general imports and exports expanded by 4.7 percent to more than 515 billion yuan (77 billion U.S. dollars) in the first two months of the year, accounting for 52.1 percent of all foreign trade in Guangdong, according to the Guangdong branch of the General Administration of Customs.

The value of imported consumer products reached more than 34 billion yuan in January and February, a year-on-year increase of 23 percent. Aquatic and marine products, as well as cosmetic products, showed particularly high growth.

With tax cuts and a series of stabilizing measures, Guangdong's foreign trade will gradually rebound, according to the branch.