ASEAN Becomes Shandong’s Largest Trading Partner in H1 2020

Date: 2020-08-14, Source: Department of Commerce of Shandong Province, Total Visits :

According to Zhang Yiying, Deputy Director of the Department of Commerce of Shandong Province, in the first half of this year, Shandong’s exports increased by 0.6%, 3.6 percentage points higher than the national level. The actual utilized foreign capital increased by 7.2%, 11.2 percentage points higher than the national level, and the growth rate ranks second among the top six provinces and cities in China in terms of the actual use of foreign capital.

In H1 2020, ASEAN became Shandong’s largest trading partner. The province’s import and export trade with ASEAN accounted for 13.1% of its total, an increase of 16%. Its import and export trade with EU, Japan   and countries along the “Belt and Road Initiative” increased by 2.2%, 1.5% and 4.4% respectively.

Cross-border e-commerce retail imports and exports increased by 135.9%, and market procurement trade exports increased by 26.6%. The export of epidemic prevention materials reached 23.49 billion yuan, an increase of 229.1%. Jinan, Yantai, Linyi, Dongying and Weifang were recently approved as national-level cross-border e-commerce comprehensive pilot zones, adding up to a total number of seven in Shandong, with Qingdao and Weihai approved before.

In response to the problems of decline in export orders and insufficient capacity utilization of some foreign trade enterprises, Shandong has launched 18 policies and measures to support the domestic sales of commodities originally produced for export, and promoted the coordination between foreign trade enterprises and Alibaba’s 1688 online platform and Hema Fresh offline channels in order to expand the domestic market.

In addition, in the first half of this year, Shandong has successively held three signing and groundbreaking ceremonies of key foreign-funded projects through video connection, with a total investment of $24.02 billion for 158 signed projects. Based on the “Select Shandong” cloud platform, 17 special online conferences were held to promote projects and attract investment. Furthermore, the province held the Second Conference of Great Business Partners and International Summit on Innovation and Development of Youth Entrepreneurs with the theme of “Seizing New Opportunities and Seeking New Development”, attracting more than 7,000 outstanding entrepreneurs and celebrities from 20 countries and regions to meet and communicate online, and 118 contracts were signed with a contract value of 143.16 billion yuan.



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