BUSINESS Shenzhen posts faster trade growth in July

BUSINESS

Shenzhen posts faster trade growth in July

Xinhua

17:37, August 31, 2020

A view of Futian district in Shenzhen, Guangdong province. (Photo: Sipa)

SHENZHEN - South China's metropolis of Shenzhen saw foreign trade grow 13.5 percent year-on-year to 275.2 billion yuan ($40 billion) in July, local customs said.

The July growth is 4.6 percentage points higher than that for June, Shenzhen Customs said.

During the first seven months of 2020, Shenzhen's foreign trade increased 1.6 percent year-on-year to 1.61 trillion yuan, the customs authorities said.

Privately-owned businesses contributed to 973.9 billion yuan of foreign trade in the January-July period, up 6.1 percent year-on-year, helping stabilize trade in the city.

Shenzhen saw foreign trade with the ASEAN countries up 11.9 percent year-on-year to 248.4 billion yuan in the seven months. It also reported positive trade growth with other trading partners, including the European Union, Britain, the Republic of Korea, and Japan.

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