Sharp Rise in Imports through Shanghai

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Last updated at: (Beijing Time) Monday, July 14, 2003

Sharp Rise in Imports through Shanghai

Imports through Shanghai port totaled 39.19 billion US dollars in the first half of this year, an increase of 51.5 percent over the same period last year.

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Imports through Shanghai port totaled 39.19 billion US dollars in the first half of this year, an increase of 51.5 percent over the same period last year.

Statistics from Shanghai Customs show demand for high-tech and new-tech equipment, raw materials and energy products surged due to the rapid economic development in the east China's financial hub.

Imports of mechanical and electrical products totaled 24.15 billion US dollars, up 57.1 percent year on year. The value of imported mobile phones was 160 million US dollars, more than five times the level of the same period last year.

Meanwhile, imports of automatic data processing equipment and parts, steel and natural rubber totaled 1.39 billion, 1.62 billionand 130 million US dollars respectively.

Foreign-funded enterprises contributed to 64.7 percent of the import total, while imports by state-owned and private enterprisesamounted to 11.92 billion and 1.12 billion US dollars respectively.

Imports from Japan, the European Union (EU) and the United States (US) account for 53.3 percent of the import total, with that from Japan, EU and US totaling 8.42 billion, 8.19 billion and4.26 billion US dollars respectively.

In the first six months of this year, exports through Shanghai port amounted to 49.97 billion US dollars, up 36.1 percent. Exports and imports totaled 89.16 billion US dollars, an increase of 42.5 percent over the same period of 2002.

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