BUSINESS Shanghai's foreign trade picks up in Q2

BUSINESS

Shanghai's foreign trade picks up in Q2

Xinhua

18:58, July 23, 2020

Aerial photo taken on Oct 15, 2019, shows a view of the Lujiazui area in Shanghai. (Photo: Xinhua)

SHANGHAI - Shanghai's foreign trade picked up in the second quarter (Q2) of 2020, rising 2.4 percent year-on-year, amid the city's business resuming and strict epidemic control measures in place, Shanghai customs said Wednesday.

The city's import and export trade volume was 824.84 billion yuan ($118 billion) in Q2, accounting for 52.2 percent of the total volume in the first half of the year.

The export of mechanical and electrical products accounted for 67.6 percent of the city's total export volume in the first half of the year. The export of textile products and fabrics rose 61.6 percent on growing demand for epidemic prevention and control materials including masks.

Shanghai's import of high-tech products grew 12.3 percent year-on-year to reach 312 billion yuan during the January-June period.

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