Linyi sees foreign trade rise in H1

Linyi saw its foreign trade total about 63.42 billion yuan in the first half (H1) of this year, local customs data showed. The figure marks a robust increase of 56.5 percent over the same period last year, according to Linyi Customs.

Linyi's exports surged 63.2 percent to 54.42 billion yuan, while imports reached approximately 9 billion yuan, up 25.6 percent year-on-year.

In the first half of this year, market purchasing in Linyi Trade City totaled 24.45 billion yuan, soaring up by 130 percent, accounting for 44.9 percent of the whole export volume.

In addition, the city saw its foreign trade with countries participating in the Belt and Road Initiative rise 45.5 percent year on year to over 42.35 billion yuan in the first half the year, official statistics have shown. Exports to Belt and Road countries hit 22.76 billion yuan, up 41.8 percent year on year, and imports from these countries grew 50.1 percent to 195.9 billion yuan.

As a city related to the Regional Comprehensive Economic Partnership agreement, Linyi will encourage the export and import and comprehensive bonded areas to build a significant supply warehouses and transportation hubs during the 14th Five-Year Plan period (2021-25), in order to spur new forms and models of foreign trade.