Shanghai sees record high import-export value in H1
According to Shanghai Customs, the value of Shanghai's foreign trade reached a new high of 2.1 trillion yuan ($289.61 billion) in the first half of 2024, a 0.6 percent increase from the previous year. Specifically, imports decreased slightly by 0.2 percent to 1.24 trillion yuan, while exports increased by 1.8 percent to 857.49 billion yuan.
Several export categories saw significant growth, with ships built in Shanghai experiencing a 92.3 percent surge in exports to 31.89 billion yuan, contributing 1.8 percentage points to the city's overall export growth. Plastic products and unwrought copper also saw notable increases of 13.7 percent and 170 percent, respectively.
Shanghai stands out as the only city in the world capable of producing aircraft carriers, large luxury cruise ships, and large liquefied natural gas (LNG) tankers. Furthermore, the city is prioritizing eco-friendly vessels, with a growing number of them utilizing clean fuels such as methanol and LNG.
This recent strong performance underscores Shanghai's resilience and adaptability amidst global economic challenges, reinforcing its position as a key player in international trade.
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