Chengdu’s Foreign Trade Volume Close to RMB500 Bln in 2018

Sichuan’s total foreign trade volume hit an all-time high of RMB594.78 billion last year, topping all of its counterparts in central and western China.

According to latest statistics released on January 27 by Chengdu Customs, the city realized a total import and export value of RMB498.32 billion in 2018, increasing 26.4% from a year earlier and continuously playing a major role in driving Sichuan Province's foreign trade growth.

"With a year-on-year increase of 29.2 %, Sichuan's total foreign trade volume hit an all-time high of RMB594.78 billion last year, topping all of its counterparts in central and western China," said Pan Xuedong, head of Statistical Analysis Section of Chengdu Customs.

In 2018, Sichuan's gross import and export value with its four major trading partners, the US, ASEAN, EU and Japan, amounted to RMB404.94 billion, accounting for 68.1% of the province's total, and that with the countries along the "Belt and Road" RMB165.22 billion, an increase of 24.4% and representing 27.8% of the province's total compared with that of a year ago, which shows the province's positive achievements from the "Belt and Road" Initiative, as well as its foreign trade market getting more and more diversified.

In terms of product structure, last year, the province exported RMB223.19 billion worth of hi-tech products, up 32.1% year on year, which stands for 66.9% of the province's total, and it imported hi-tech products valued at RMB206.68 billion, up 28.5% year on year and accounting for 79.1%.

Among the total volume, the Chengdu Hi-tech Comprehensive Bonded Zone accomplished a foreign trade value totaling RMB352.11 billion, a 28.9% increase over a year before, standing for 59.2% of the province's total and contributing 16.1 % to the province's foreign trade growth. Its total value of foreign trade ranked first among all of its peers in China.

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