SHANGHAI customs figures show trade value of domestic privately-owned importers and exporters totalled to US$214.8 billion in 2013, up 10.3 per cent from 2012, Xinhua reports.
This is 8.9 per cent points greater than the growth of Shanghai's trade value total and accounted for more than one fourth of the total, said the report.
In 2013, Shanghai customs recorded a trade value of $812.14 billion, only 1.4 per cent more than in 2012. Domestic private companies contributed 26.5 per cent of the total, two per cent more than 2012. Exports of these companies climbed 9.4 per cent to $160.2 billion, 7.8 percentage points faster than Shanghai's export total growth. Imports increased 13.1 per cent to 54.6 billion, 12.2 percentage points faster than Shanghai's import total growth.
Shanghai Customs statistician Sun Dan said the domestic firms maintained double-digit growth while international trade was in the doldrums and accounted for more than a quarter of Shanghai's trade total.
This indicates a "positive change" and that these firms are becoming China's major trade value contributors, and their proportion will continue to expand.
Meanwhile, Shanghai's foreign-invested firms experienced a decrease in trade value. In 2012, they posted a trade value of $480.21 billion, down 2.9 per cent from 2011, taking up 59.9 per cent of Shanghai's total, which was one percentage point less than in 2011. In 2013, their trade value again dropped one per cent from 2012 to $475.59 billion, taking up a 1.4-percentage-point less proportion of 58.6 per cent in the total.
Analysts pointed out that foreign-invested firms' unsatisfactory performance shows that the world's economic recession is still affecting international trade. In 2013, Shanghai's processing trade, which is closely related to the performance of foreign firms, dropped four per cent year on year to $243.2 billion. Export fell 4.5 per cent to $177.27 billion. Import fell 2.5 per cent to $65.93 billion.
Shanghai's trade value dropped for two straight quarters in the first half of 2013, but rebounded in the second half of year. In the fourth quarter, the growth accelerated 6.9 per cent from the third quarter's 3.2 per cent.
Shanghai's the largest customs for foreign trade in China. In 2013, Shanghai customs' trade value took up nearly 20 per cent of the national total.
PORTS
31 January 2014 - 21:19
Domestic firms contribute to 26pc of Port of Shanghai trade in 2013
SHANGHAI customs figures show trade value of domestic privately-owned importers and exporters totalled to US$214.8 billion in 2013, up 10.3 per cent from 2012
PORTS
31 January 2014 - 21:19
Domestic firms contribute to 26pc of Port of Shanghai trade in 2013
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