Shanghai does booming trade with Taiwan

The trade between Shanghai and Taiwan has been soaring since the beginning of this year, but with a deficit of 4.81 billion U.S.dollars on Shanghai's part.

Shanghai did 12.25 billion U.S. dollars worth of trade with Taiwan in the first six months of the year, said sources from Shanghai Customshouse.

In breakdown, the exports to Taiwan via Shanghai totaled 3.72 billion U.S. dollars during January-June period, while import from Taiwan via Shanghai added up to 8.53 billion U.S. dollars, posing an increases of 33.4 percent and 22.4 percent in accordance with comparable figures of last year, respectively.

The city's trade deficit with Taiwan was said to be caused by a rapid expansion of processing trade.

Shanghai imported 5.56 billion U.S. dollars worth of goods from Taiwan for processing trade from January to June, a rise of 36.3 percent from that of last year or 24.2 percentage points more than the growth recorded during the same period last year.

And imported machinery and electronic products make the lion's share in Shanghai's import from the island area to reach 6.42 billion U.S. dollars in the first half of the year, up 28.7 percent. Other imports from Taiwan include raw materials and fruit.

Source: Xinhua