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Exports surge 22.4% last month, led by high-tech sector
By Wang Yanlin |
October 18, 2010, Monday
|
Online Edition
Online Edition
SHANGHAI'S high-tech exports led the city's foreign trade to a steady growth in September.
Together with increased retail sales and foreign investment, the city is on route to achieve its target of an 8-percent economic expansion for the year, analysts said.
Shanghai's exports rose 22.4 percent from a year earlier to US$16 billion last month, compared with the 25.5 percent hike in August, the Shanghai Statistics Bureau said today.
Exports of high-tech products surged 31.5 percent to US$7.5 billion, the fastest among all categories while processed products only gained 16 percent.
"Trading activities are on a gradual recovery and export has been quite stable in recent months, reflecting fast recovering demand from the outside," said Li Maoyu, an analyst at the Changjiang Securities Co.
"Also, Shanghai's efforts to transform its manufacturing sector are mirrored in more exports of high-tech and value-added products."
Last month, the city's imports advanced 22.4 percent year on year to US$16.9 billion, creating a trade deficit of US$868 million.
On the national front, China's exports grew 25.1 percent on an annual basis, while imports increased 24.1 percent, sending the trade surplus to a five-month low of US$16.8 billion.
Together with increased retail sales and foreign investment, the city is on route to achieve its target of an 8-percent economic expansion for the year, analysts said.
Shanghai's exports rose 22.4 percent from a year earlier to US$16 billion last month, compared with the 25.5 percent hike in August, the Shanghai Statistics Bureau said today.
Exports of high-tech products surged 31.5 percent to US$7.5 billion, the fastest among all categories while processed products only gained 16 percent.
"Trading activities are on a gradual recovery and export has been quite stable in recent months, reflecting fast recovering demand from the outside," said Li Maoyu, an analyst at the Changjiang Securities Co.
"Also, Shanghai's efforts to transform its manufacturing sector are mirrored in more exports of high-tech and value-added products."
Last month, the city's imports advanced 22.4 percent year on year to US$16.9 billion, creating a trade deficit of US$868 million.
On the national front, China's exports grew 25.1 percent on an annual basis, while imports increased 24.1 percent, sending the trade surplus to a five-month low of US$16.8 billion.
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