Statistics from Shanghai Customs show that the foreign trade volume of private enterprises in the eastern municipality soared in the first four months of 2004.

These enterprises scored foreign trade valuing 2.26 billion US dollars from January to April, which was 2.9 times that of the same period of 2003. However, the figure accounted for only 4.6 percent of Shanghai's total foreign trade.

Official figures also show that nearly half of the private enterprises are run by investors from other areas outside Shanghai. During the first four months of this year another 1,226 private enterprises were registered with Shanghai Customs.

The United States, European Union, Japan and Hong Kong were the main export markets of Shanghai's private enterprises.

Most of Shanghai's private enterprises chose to export labor-intensive goods such as textiles. Insiders said that the enterprises should readjust their export structure and sell products with more high-tech content.

Source: Xinhua