US Replaces Japan as Shanghai's Biggest Market

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Last updated at: (Beijing Time) Wednesday, August 28, 2002

US Replaces Japan as Shanghai's Biggest Market

The United States has replaced Japan as the biggest export market for Shanghai, China's biggest industrial and business center, during the first seven months of this year.

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The United States has replaced Japan as the biggest export market for Shanghai, China's biggest industrial and business center, during the first seven months of this year.

Figures released Tuesday by the Foreign Trade and Economic Commission of the Shanghai municipal government show exports to the United States totaled 4.2 billion US dollars, up 4.9 percent, while exports to Japan grew by only 0.5 percent to 3.66 billion US dollars.

Exports to European Union slumped by 4.1 percent to 2.7 billion US dollars during the seven-month period, while exports to countries of the Association of Southeast Asian Nations (ASEAN) jumped by more than 30 percent to 1.3 billion US dollars.

Customs figures show exports from Shanghai totaled 17.17 billion US dollars during the seven-month period, up 7.5 percent, and the monthly growth rate for July reached 19.2 percent.

Machinery and electronic products valued at 9.02 billion US dollars, accounted for about half of the total exports, up 8.6 percent.

Exports of garments and other textile products rose 1.9 percent to 3.96 billion US dollars.

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