Ningbo, a major port in east China's economically booming Zhejiang Province, saw 3.9 billion U.S. dollars in trade with five member nations of the Asia-Pacific Trade Agreement in the first three quarters of this year, a growth of 31.1 percent year-on-year.

The five nations are India, the Republic of Korea, Bangladesh, Sri Lanka and Laos.

Local customs sources said the fast trade growth was due partly to a new-round of "tax holidays" that began on Sept. 1.

Exports came to 1.58 billion U.S. dollars, up 49.2 percent over the same period a year earlier, and imports totaled 2.33 billion U.S. dollars, up 21.2 percent. The trade deficit stood at 753 million U.S. dollars for the nine-month period, the sources said.

The Republic of Korea was the main trade partner of Ningbo, with a trade volume of 2.97 billion U.S. dollars, up 28.8 percent.

The port's imports from the five APTA nations were mainly plastics in primary form, machines and electronics and oil products, and its exports were machines and electronics, textiles and clothing and aquatic products.

China joined the APTA in May 2001, when the agreement was called the Bangkok Agreement.

Source: Xinhua