Shanghai's foreign trade was worth 388.12 billion yuan ($60.93) in November, breaking the monthly record and establishing year-on-year growth for 18 consecutive months, according to Shanghai Customs statistics.

The growth rate increased by 1.5 percentage points on the previous month, rising to 20.6 percent.

The value of exports surged 22.1 percent to 156.82 billion yuan in November, while imports increased by 19.5 percent to 231.3 billion yuan. Both figures established new highs.

In the first 11 months of the year, the total import and export value of Shanghai reached 3.67 trillion yuan, up 16.3 percent over the same period last year.

Breaking it down, exports totaled 1.41 trillion yuan, up 13.3 percent while imports were 2.26 trillion yuan, up 18.3 percent. Meanwhile, the trade deficit was 847.94 billion yuan, an increase of 27.8 percent.