Inner Mongolia reports rapid growth in foreign trade in H1

Officials from the local customs department of North China's Inner Mongolia autonomous region deliver a report on the region's foreign trade situation in H1 at a press conference held in Hohhot, capital of the region, on July 18. [Photo/nm.people.cn]

The foreign trade value of North China's Inner Mongolia autonomous region rose 9.6 percent year-on-year to 54.72 billion yuan ($7.95 billion) in the first half of 2019, local customs authorities said at a press conference held in Hohhot, capital of the region, on July 18.

Exports decreased 0.8 percent year-on-year to 18.42 billion yuan, while imports increased 15.8 percent to 36.3 billion yuan, and the structure of foreign trade has been optimized, according to Hohhot Customs. The region's exports are mainly labor-intensive products and primary products, while imports mainly consist of bulk resource commodities.

In the first half of the year, the foreign trade volume between the region and countries involved in the Belt and Road Initiative reached 36.57 billion yuan, an increase of 8.4 percent over the same period last year and accounting for 66.8 percent of the region's total foreign trade.

In the second half of the year, Hohhot Customs will focus on helping open the region up to the north, implementing the Belt and Road Initiative, and supporting the development of the port economy, key foreign trade enterprises, and important industries in Inner Mongolia Autonomous Region.

The local customs department will also further optimize the customs clearance and business environment, and help improve the quality and efficiency of the region's foreign trade.