PR93718

QINGDAO, China Dec, 15, 2021 /PRNewswire=KYODO JBN/ --

In the latest statistics of the Qingdao Customs Authority, the first 11 months

of 2021 showed for the first time the 773.43 billion RMB or over the 700

billion RMB mark and a growth of 35.7% compared to the same period in 2020 and

45.4% compared to the same period in 2019, which would account for 29% of the

total foreign trade volume of the province. Imports and exports are 13.7 and

1.1 percentage points higher than the national and provincial average,

respectively; The growth rates in terms of foreign trade as well as import and

export individually are the best among cities with independent planning status.

In the first eleven months of 2021, Qingdao's total export volume amounted to

RMB 441.91 billion, which is an increase of 29.2% compared to the same period

in 2020 and 45.9% compared to the same period in 2019; Imports are 44.8% higher

than in the same period of 2020 and 45.4% higher than in the same period of

2019.

In November 2021, Qingdao's total foreign trade volume amounted to RMB 76.42

billion, which is an increase of 27.3% compared to the same period in 2020 and

a growth of 3.7% compared to the previous month; exports amounted to RMB 47.25

billion, and imports to RMB 29.17 billion, representing increases of 25.6% to

the same period in 2020 and 30.1% respectively compared to the same period in

2020.

"Given the high global prices of energy, raw materials, and bulk goods, rising

costs for the international transport of goods, the recurring global problems

with the COVID-19 pandemic and the significant external risks, including the

severe economic recovery of the world, Qingdao's import and export have set a

historic record in the first eleven months, which is a true masterpiece," said

the head of the global research base for the World Economy in Shandong,

Professor from Institute of Economics at Qingdao University, Mr. Zhou Shengqi.

As far as different categories of Qingdao's foreign trade structure are

concerned, they mainly have the following characteristics: General trade and

imports and exports in the bonded area have increased dramatically, the share

of foreign trade of private companies has increased, and imports and exports

towards the main markets both have risen significantly. In addition, it is the

same at Qingdao as at other locations in China that imports of bulk goods have

greatly increased. Many domestic research institutes have pointed out that the

reasons for growth should be considered objectively, as they are closely linked

to price factors.

Zhou Shengqi has stated that the series of measures initiated by Qingdao to

"stabilize foreign trade" has contributed significantly to Qingdao's strong

foreign trade growth. The facilitation of cross-border trade in Qingdao and the

optimization or reform of the port business environment have continued to

accelerate, gradually reducing the costs of foreign trade companies and

continuously improving trade efficiency. High-level platforms for opening up,

such as the SCO Model Zone, Qingdao Free Trade Zone, Comprehensive Pilot Zone

of Cross-Border E-Commerce, Model Zone for The Promotion and Innovation of

Import Trade, have played a significant leading role in promoting foreign trade

growth. New forms of foreign trade. such as "cross-border e-commerce" and

"market procurement" as well as emerging markets such as countries along the

"Belt and Road", whose products are highly complementary to those from Qingdao,

have also created new drivers for the rapid development of Qingdao's foreign

trade.

Contact: Zhu Yiling

Tel: 0086532-85911619

Official website: http://www.qingdaochina.org

Facebook page: https://www.facebook.com/qingdaocity

Twitter page: https://twitter.com/loveqingdao

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SOURCE: Stadt Qingdao