Overseas-funded enterprises in Shanghai contributed a record-high 66.5 percent to the city's foreign trade, with their imports and exports reached 50.2 billion US dollars in the first half of this year, up 60.6 percent year-on-year, said local customs Sunday.

In breakdown, these enterprises' exports rose by 65.7 percent to 22.6 billion dollars, and imports grew 56.7 percent to 27.5 billion dollars, with a trade deficit of 4.89 billion dollars, which accounted for one-sixth of the city's half-year trade deficit.

Japan was the largest trade partner with overseas-funded enterprises in Shanghai with bilateral trade reaching 10.25 billion dollars in the six months, followed by the European Union with 9.81 billion dollars, the United States with 9.1 billion dollars, and the Association of Southeast Asian Nations with 5.96 billion dollars.

The import and export of machinery and electronic products did by Shanghai's overseas-funded enterprises in the half year stood at 21.29 billion dollars and 18.44 billion dollars, up 68.6 percent and 77.6 percent respectively.

The enterprises reported 24.5 billion dollars in the import and export of high-tech products, up 85.2 percent year-on-year.

Source: Xinhua