Shanghai's foreign trade rises 5.3% during Jan-Oct period

From January to October this year, Shanghai's foreign trade volume reached 3.46 trillion yuan ($483 billion), an increase of 5.3 percent compared with the same period last year, and accounted for 10 percent of the total foreign trade volume in China.

The export volume hit 1.41 trillion yuan, an increase of 12.5 percent and the import volume stood at 2.05 trillion yuan, an increase of 0.9 percent.

During the same period, the foreign trade value of foreign-invested enterprises reached 2.12 trillion yuan, an increase of 61.2 percent year-on-year, and accounted for 61.2 percent of Shanghai's total foreign trade value.

In the private sectors, the foreign trade value surged to 1.01 trillion yuan, up 13.6 percent year-on-year.

During the 10-month period, Shanghai's trade with countries involved in the Belt and Road Initiative reached 782.85 billion yuan, up 6.8 percent year-on-year.

Shanghai's mechanical and electrical product exports hit 958.08 billion yuan, an increase of 11.4 percent year-on-year. Among them, lithium-ion battery, electric manned vehicle and solar cell exports reached 19.99 billion yuan, 65.02 billion yuan and 7.03 billion yuan, respectively.

Shanghai's aluminum ore and concentrate imports doubled from January to October, with natural gas, coal and refined oil imports up 16.6 percent, 68 percent and 21.7 percent, respectively. At the same time, the import value of soybeans and beef reached 41.14 billion yuan and 19.6 billion yuan, respectively.