In January, Guangzhou’s foreign trade hit 86.15 billion yuan, up 21% year on year and accounting for 17.7% of Guangdong’s total. The imports reached 27.88 billion yuan, up 18.6% year on year and accounting for 18.6% of Guangdong’s total imports. The exports reached 58.27 billion yuan, a historical high in a single month, up 22.2% year on year and accounting for 17.8% of Guangdong’s total exports.

 

January saw Guangzhou’s growth in its main trade modes, such as, normal foreign trade hit 35.09 billion yuan, up 16.3% year on year and accounting for 17.7% of Guangzhou’s total; processing foreign trade hit 22.38 billion yuan, down 2.6% year on year and accounting for 26% of Guangzhou’s total; and bonded logistics foreign trade 4.36 billion yuan, up 22.3% year on year and accounting for 5.1% of Guangzhou’s total.

 

Private enterprises made robust growth in foreign trade while state-owned enterprises(SOE) declined over 10% in export. In January, Guangzhou private enterprises’ foreign trade hit 40.65 billion yuan, up 42.6% year on year and accounting for 47.2% of the city’s total; Guangzhou foreign-funded enterprises’ foreign trade hit 32.54 billion yuan, up 7.2% year on year and accounting for 37.8% of the city’s total; and Guangzhou SOEs’ foreign trade hit 12.94 billion yuan, up 7.9% year on year and accounting for 15% of the city’s total, including export of 7.75bilion yuan which declines 11% year on year.

 

In January, electromechanical products were still the main contributors to Guangzhou’s exports. Labor-intensive products of the seven major categories made growth. Electromechanical product exports reached 30.05 billion yuan, up 24.7% year on year and accounting for 15% of the city’s total exports. Traditional labor-intensive products of the seven major categories reached exports of 20.06billion yuan, up 29% year on year and accounting for 34.4% of the city’s total exports. In addition, electromechanical product imports reached 11.77 billion yuan, up 10.8% year on year and accounting for 42.2% of the city’s total exports. Agricultural product imports was 2.81 billion yuan, down 8.8% and accounting for 10.1% of the city’s total imports.

 

Source: Translated from Invest Guangzhou, Feb. 21, 2017