Shanghai Reports Drastic Increase in Export

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Last updated at: (Beijing Time) Thursday, August 14, 2003

Shanghai Reports Drastic Increase in Export

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Shanghai, the leading industrial and commercial city of China, registered 26.42 billion US dollars in export in the first seven months of this year, a rise of 53.8 percent over the same period last year, the latest statistics have shown.

According to Shanghai Customs, the figure was 20.4 percentage points higher than the national average in the same period.

Shanghai reported an export volume totaling 4.59 billion US dollars in July, up 71.7 percent over the same month of last year.

Pan Longqing, director of the city's foreign trade and economiccooperation committee, attributed the growth to the increases in exported high-tech and electromechanical products.

The city's export of high-tech products totaled 8.007 billion US dollars in the January-July period, 2.13 times the figure for last year's same period, while electromechanical exports surged 72.6 percent to hit 15.56 billion US dollars.

Pan also cited the improvement of customs services and the factthat more private enterprises had the right to export commodities as the major factors behind the city's export growth.

Statistics show that more than 1,000 private enterprises were granted the right to export commodities in the seven months to July, bringing the number of private enterprises with the right todo foreign trade to 3,681 in the city.

These private enterprises exported 840 million US dollars of goods from January to July, 10.9 times the figure for last year's same period.

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