Shanghai reports record-high foreign trade in H1

SHANGHAI -- China's financial hub Shanghai saw its foreign trade hit a record high of 2.1 trillion yuan ($294.44 billion) in the first half of 2024, Shanghai Customs said Thursday.

During the period, Shanghai's exports rose 1.8 percent year-on-year to 857.49 billion yuan, while imports decreased 0.2 percent to 1.24 trillion yuan.

In the first half, Shanghai's exports of mechanical and electrical products increased 0.8 percent year-on-year to 591.25 billion yuan, accounting for 69 percent of the city's total export value. Its exports of ships jumped by 92.3 percent year-on-year to 31.89 billion yuan.

In the same period, Shanghai's trade with the Association of Southeast Asian Nations (ASEAN) totaled 277.35 billion yuan, up 4.8 percent year-on-year. Its trade with BRICS countries increased by 11.2 percent year-on-year to 200.32 billion yuan.