Quanzhou sees foreign trade boom in Q1

The import and export volume of Quanzhou, a coastal city in Fujian province recorded 43.15 billion yuan ($6.39 billion) in the first quarter of this year, an increase of 8.96 percent year-on-year, local media reported, citing statistics from local authorities.

According to Quanzhou Customs, the figure outpaced both the national and provincial growth rates, which stood at 5.26 percent and 4.43 percent respectively over the period.

Private businesses in the city are the primary contributors, whose foreign trade volume accounted for nearly 70 percent of the total recorded in the city.

Official data show that the imports and exports of private companies in Quanzhou reached 23.18 billion yuan, up by 17.95 percent over the January-to-March period.

As of the end of March, a total of 10,373 private enterprises registered in Quanzhou, accounting for 67.8 percent of the total in the city.

The exports primarily were textiles, clothing, furniture, bags, shoes, plastic products and toys while it imported crude oil, mechanical and electrical products, high-tech products and soybeans.