Foreign Trade Increases in First 4 Months

Foreign trade valued at $31.2 billion passed through Shanghai customs between January and April, an increase of 56.2 per cent over the same period last year, a customs spokesman said yesterday.

Of the figure, imports were worth $14.3 billion, up 70.6 per cent, while exports reached $16.9 billion, a rise of 45.8 per cent.

"The increase of imports is credited to foreign-funded ventures importing equipment," the spokesman said.

Other imports included machinery, electrical appliances, electronic products, wool, steel oil and textile fibres.

The spokesman said exports to China's major trade partners are increasing due to the economic recovery in neighbouring countries.

State-owned enterprises exported goods worth $8.42 billion, an increase of 46.7 per cent, while exports of overseas-funded ventures grew by 39.8 per cent.