Guangxi's Q1 imports, exports worth over $21b

First quarter imports and exports in Guangxi Zhuang autonomous region surged by 50.7 percent to 138.51 billion yuan ($21.36 billion), customs officials in the capital city of Nanning announced on April 22.

The Q1 growth rate was 21.5 percentage points higher than the national level, Nanning Customs added.

The autonomous region's exports in the same period were worth 78.83 billion yuan, up 64.1 percent year-on-year, while imports climbed by 36 percent to 59.68 billion yuan. 

Private companies in Guangxi have been the main force for the region's foreign trade development. Their imports and exports increased 54.2 percent to 89.65 billion yuan, accounting for 64.7 percent of the region's total.

Foreign trade conducted by foreign-invested companies and State-owned companies amounted to 21.22 billion yuan and 16.23 billion yuan in the period, up 29.2 percent and 39 percent respectively.

Foreign trade companies in Guangxi have reportedly had their confidence restored, thanks to a series of preferential policies launched by the region to stabilize foreign trade development.

The import and export trade between Guangxi and ASEAN countries amounted to 72.12 billion yuan, up 64.8 percent year-on-year, while that for trade between Guangxi and Hong Kong stood at 15.82 billion yuan, up 39.4 percent.

Elsewhere, trade during the period between Guangxi and countries alongside the Belt and Road was 77.42 billion yuan, increasing 59.7 percent.