Shanghai's foreign trade grows in January-November

Shanghai's imports and exports reached 3.86 trillion yuan (US$540.3 billion) in the first 11 months of this year, up 1.2 percent year on year, according to local customs.

Over this period, the city's exports rose 1.7 percent to 1.59 trillion yuan while its imports edged up 0.8 percent to 2.27 trillion yuan, data from Shanghai Customs showed.

Shanghai's imports and exports of bonded logistics amounted to 1.01 trillion yuan, showing an annual growth of 12.2 percent. General trade still dominated foreign trade, accounting for 59.3 percent of the total foreign trade volume during the January-November period while processing trade made up 13.8 percent.

Imports and exports of foreign-funded enterprises fell 2.6 percent to 2.27 trillion yuan, with the monthly decline narrowing slightly. In contrast, domestic-funded companies saw imports and exports grow 6.8 percent to 1.58 trillion yuan, accounting for 40.9 percent of total foreign trade volume during the period.

In the first 11 months, Shanghai's trade with countries such as Australia, Switzerland, and Singapore showed strong growth momentum, with a year-on-year increase of 19.6 percent, 13.5 percent, and 11.9 percent, respectively. The city's trade with the European Union, its largest trading partner, reached 773.67 billion yuan, up 2.7 percent annually.

Meanwhile, Shanghai saw a prosperous trend of both imports and exports in integrated circuits. The city imported 35.36 billion yuan of semiconductor manufacturing equipment, surging 26.4 percent on year, while 167.33 billion yuan of ICs were exported, a gain of 12.6 percent yearly.