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Pudong's foreign trade up 4.9% in Jan-Oct

english.pudong.gov.cn Updated:2022-12-08

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Colorful neon lights light up the Oriental Pearl TV Tower in Pudong New Area, Shanghai, one of China's most iconic landmarks. [Photo/WeChat account: pdnews]

The foreign trade volume of the Pudong New Area in Shanghai totaled 2.02 trillion yuan ($290.38 billion) during the January-October period this year, growing 4.9 percent year-on-year and accounting for 58.5 of Shanghai's total, showing that the area's foreign trade is full of vigor and resilience despite COVID-19.

In late November, Pudong introduced 10 key measures to further promote the development of its foreign trade, which are expected to help deepen its institutional opening up, improve its business environment and engage at a higher level in the global economy.

High-quality development of foreign trade is an important way for Shanghai to become an international trade center. Official data showed that in the past decade, the total foreign trade volume of Pudong increased by 52 percent year-on-year, and the import and export volume exceeded 2.38 trillion yuan in 2021.

Pudong will give full play to the institutional advantages of the China (Shanghai) Pilot Free Trade Zone, further increase its trade scale, improve its trade functions, and optimize its business environment in line with world-class standards, aiming to advance the high-quality development of its foreign trade.