E. China Province Sees Booming Foreign Trade

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Last updated at: (Beijing Time) Tuesday, December 17, 2002

E. China Province Sees Booming Foreign Trade

Foreign trade of 3.18 billion US dollars in November this year in East China's coastal province of Shandong represented a year-on-year growth of 26.7 percent, official figures show.

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Foreign trade of 3.18 billion US dollars in November this year in East China's coastal province of Shandong represented a year-on-year growth of 26.7 percent, official figures show.

According to the latest figures released by the provincial department in charge of foreign trade and economic cooperation, Shandong exported goods worth 1.96 billion US dollars, up 22.1 percent over the same month last year, while imports totaled 1.21 billion US dollars, up 34.9 percent.

Foreign trade experts attributed the fast export growth to the increased trade in machinery and electronic goods, which jumped by39.5 percent over the same period last year, and a greater share in new markets.

During the first 11 months this year, the province reported at least a 30 percent rise in its exports to South Asia, Oceania, Southeast Asia and Africa, while its exports to such traditional markets as the Republic of Korea, the United States and the European Union, continued to grow.

In the 11 months, overseas-funded firms contributed exports worth 9.81 billion US dollars, an increase of 17.8 percent over the same period last year.

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