The Yangtze River Delta region has witnessed a surge in exports of cars, ships, and high-tech products, demonstrating the region’s dominance in high-end manufacturing sectors, according to statistics recently released by Shanghai Customs.
The statistics showed that the region’s international trade volume reached 9.1 trillion yuan ($1.28 trillion) in the first seven months of the year, with car exports reaching 180.63 billion yuan. This volume, up by 2.7 percent year-on-year, also represents nearly 40 percent of the nation’s total car exports.
Furthermore, the region experienced substantial growth in the export of ships and high-tech products. Ship exports surged to 111.41 billion yuan, reflecting a remarkable 79 percent year-on-year increase and constituting 64.1 percent of the total ship exports nationally. Additionally, the export of high-tech products reached 1.2 trillion yuan, accounting for 34.8 percent of the country’s total.
The region, which accounts for 30 percent of the nation’s total production of new energy vehicles, predominantly exports its vehicles through Shanghai ports, with carmaker Chery, headquartered in Anhui province, utilizing Shanghai’s Haitong Port in Waigaoqiao for shipping its cars overseas. This practice is mirrored by many other automakers in the region.
The statistics released by Shanghai Customs also underscored a notable uptick in exports to countries participating in the Belt and Road Initiative and the Regional Comprehensive Economic Partnership. Trade volumes with these nations stood at 4.06 trillion yuan for imports and 2.77 trillion yuan for exports, further solidifying the region’s position as a key player in global trade dynamics.
Source: Shanghai Observer