Shenzhen's foreign trade up 2.4% in 2020

SHENZHEN - Shenzhen's foreign trade grew by 2.4 percent, year-on-year, to reach 3.05 trillion yuan ($473 billion) last year, local customs said on Tuesday.

Exports rose by 1.5 percent, year-on-year, to 1.7 trillion yuan and imports grew by 3.6 percent, year-on-year, to 1.35 trillion yuan, Shenzhen Customs said.

Private companies helped stabilize foreign trade, contributing 1.81 trillion yuan in exports and imports, a year-on-year increase of 5.7 percent.

As more people work from home or entertain online during the pandemic, there was a strong demand for electronic products, thus boosting exports of these products.

Shenzhen's computer, audio and video equipment, home appliance, and video game console exports jumped by 7.9 percent, year-on-year, to 317.3 billion yuan last year.

The city's trade with countries participating in the Belt and Road Initiative rose by 2.1 percent, year-on-year, to 673.47 billion yuan. It was a record high since the initiative was proposed in 2013.