Shanghai maintains foreign trade dominance among mainland cities in 2023
Shanghai is positioned to uphold its leading position among Chinese mainland cities in total import and export value for 2023, while Shenzhen, Guangdong province, is poised to secure the top spot in export value for the 31st consecutive year, as per preliminary trade data released by various cities on the mainland.
According to the latest data from Shenzhen Customs, the city achieved a historic high with a total import and export value of 3.87 trillion yuan ($543.56 billion) in 2023, marking a 5.9 percent year-on-year increase and ranking second among mainland cities in terms of foreign trade volume.
Shenzhen's exports reached 2.46 trillion yuan, a remarkable 12.5 percent year-on-year growth, maintaining its top position for 31 consecutive years.
These figures underscore Shanghai's continuous dominance in total import and export volume among mainland cities.
As of now, both Shanghai and Suzhou of Jiangsu province, with comparable trade figures to Shenzhen, are yet to release their full-year foreign trade data.
However, based on data for the first 11 months of 2023, Shanghai and Shenzhen are expected to secure the top positions in total foreign trade volume and export value respectively.
According to statistics from Shanghai Customs, the total import and export value for Shanghai in the first 11 months of 2023 was 3.86 trillion yuan, showing a 1.2 percent year-on-year growth. Of this, exports amounted to 1.59 trillion yuan, marking a 1.7 percent increase, while imports reached 2.27 trillion yuan, experiencing a slight increase of 0.8 percent.
Earlier data released by Suzhou Customs indicated a total foreign trade value of nearly 2.24 trillion yuan from January to November 2023, with detailed export and import figures yet to be disclosed.
The top five foreign trade cities, consistently observed over the past five years, are Shenzhen, Shanghai, Suzhou, Ningbo of Zhejiang province, and Guangzhou of Guangdong, according to a list published by the China Customs magazine under the General Administration of Customs.
However, Ningbo and Guangzhou exhibit a notable gap in foreign trade strength compared to Shanghai, Shenzhen, and Suzhou.
In terms of exported products, electric passenger cars, lithium batteries, and solar battery cells are the common flagship products among these foreign trade strongholds.
The Shanghai Haitong International Automotive Terminal, China's largest automobile roll-on/roll-off export terminal, set a new annual record by exporting nearly 1.03 million vehicles in 2023.
Chinese cities are actively cultivating trade ties with countries and regions involved in the Belt and Road Initiative.
In 2023, Shenzhen conducted 1.3 trillion yuan in import and export trade with BRI countries and regions, registering a 9.3 percent year-on-year increase.
In the first 11 months of 2023, Shanghai exported goods worth 533.86 billion yuan to BRI countries, marking a 6.6 percent increase year-on-year.
According to data released by the General Administration of Customs, China's total import and export value for 2023 reached 41.76 trillion yuan, a slight year-on-year increase of 0.2 percent.
This included exports of 23.77 trillion yuan, a 0.6 percent increase, and imports of 17.99 trillion yuan, a 0.3 percent decrease.
Source: news.cnr.cn
