Shenzhen Photo: VCG

Import and export volume of Shenzhen, South China's Guangdong Province, hit 3.51 trillion yuan ($491.23 billion) during the first 11 months this year, up 6.3 percent from previous year, according to data released by Shenzhen Customs.

The city ranks the first among China's top 10 traditional trade cities, according to the Shenzhen city government, citing data from local customs.

Shenzhen's exports in the first 11 months of 2023 hit 2.24 trillion yuan, increasing by 13.6 percent year-on-year. Shenzhen Customs said the city's export volume was forecast to remain first among Chinese cities for a 31st consecutive year in 2023, local officials said.

Shenzhen's thriving export volume was boosted by three emerging industries including lithium battery, new-energy vehicles and solar panels, which generated 82.42 billion yuan of export value, jumping by 42.3 percent year-on-year.

The private sector has been a major drive force behind the city's foreign trade growth since the beginning of 2023. In the first 11 months, foreign trade by the private sector reached 2.29 trillion yuan, up by 12.5 percent year-on-year.

During the period, Shenzhen's trade volume with the Belt and Road Initiative partner countries came in at 1.18 trillion yuan, increasing 9.6 percent year-on-year.

According to a list of China's top 100 cities for foreign trade in 2022, released by the General Administration of Customs, Shenzhen ranked first, followed by Shanghai, Suzhou in East China's Jiangsu Province, Ningbo in East China's Zhejiang Province and Guangzhou in South China's Guangdong Province.

Shanghai on Wednesday released its foreign trade volume from January to November 2023, which stood at 3.86 trillion yuan, increasing 1.2 percent year-on-year, marking a new record high, the Shanghai government said.

Global Times