Foreign trade through the northern port of Tianjin reached 10.93 billion US dollars in January and February, up 30.6 percent over the same two months last year, according to customs statistics.

During the first two months of 2005, imports rose 15.2 percent to 4.46 billion US dollars and exports grew 44 percent to 6.47 billion US dollars.

Foreign-funded businesses contributed to 46.2 percent of the total foreign trade, with trade volume standing at 5.05 billion US dollars and rising 28.2 percent over the same period last year.

Foreign trade of state-owned companies were valued at 4.19 billion US dollars, an increase of 25.3 percent.

Exports of mechanical and electrical products via the port rose 40.4 percent to 2.49 billion US dollars.

Tianjin port more than doubled its exports of steel to 736,000 tons during the first two months, valuing at 460 million US dollars.

Its trade with the European Union, the Untied States, Japan and the Republic of Korea rose 62.7 percent to 6.85 billion US dollars, representing 62.7 percent of the foreign trade via the port.

Source: Xinhua