Chongqing’s Imports and Exports Totaled 219.5 Billion RMB From January to May

Xinyi Li in Businessnews

By Xinyi Li, EDITOR

According to statistics from Chongqing Customs District P.R.C. (Chongqing Customs), in the first five months of this year, the total import and export value of Chongqing foreign trade was 219.5 billion RMB, a year-on-year increase of 18.8%, ranking 11th in the country.

In the first 5 months of this year, the total import and export value of Chongqing foreign trade was RMB 219.5 billion

Specifically, exports reached 140.34 billion RMB, a year-on-year increase of 20.2%, and 14.1% percentage points higher than the national export in growth rate. Imports reached 79.16 billion RMB, a year-on-year increase of 16.3%, and 8.6 percentage points higher than the domestic import in growth rate.

In May this year, Chongqing’s import and export achieved 45.45 billion RMB, up 14.1% year on year. Among them, exports reached RMB 28.1 billion, up 16% year on year. Imports reached 17.35 billion RMB, up 11% year on year.

Open channels have played a significant leading role

Ahead from Chongqing Customs expressed three characteristics of Chongqing’s foreign trade imports and exports in the first five months. For one thing, imports and exports of processing trade increased by over 20%. In this regard, the import and export of processing trade achieved 106.86 billion RMB, a year-on-year increase of 22%. The value of general foreign trade achieved 77.02 billion RMB, a year-on-year increase of 4.3%.

Moreover, among the major trading partners, the import and export between Chongqing and the EU and the countries along the Belt and Road have seen a rapid increase. In the first five months, Chongqing-EU import and export reached 43.7 billion RMB, a year-on-year increase of 27.4%. Its imports from and exports to the latter totaled 61.27 billion RMB.

Furthermore, Chongqing’s open channels have played a significant leading role in promoting the joint construction of the Belt and Road Initiative. Imports from and exports to countries along the Belt and Road reached 6.22 billion RMB through China Railway Express (Chongqing), with an increase of 2.4 times. Meanwhile, CRE Chongqing is also becoming more attractive to enterprises in other provinces of China. The number of provinces and municipalities access to the countries along the Belt and Road through CRE Chongqing increased from 21 to 26.