Shenzhen Customs reported on April 19 that in the first quarter of 2024, the total import and export value of Shenzhen's foreign trade was 1.02 trillion yuan (RMB, the same below), breaking through the trillion yuan mark for the first time in the same period in 10 years, an increase of 28.8% year-on-year (the same below). Among them, exports were 642.44 billion yuan, up by 28.2 percent, and imports were 377.85 billion yuan, up by 29.9 percent.

Shenzhen Customs said that on the whole, driven by favorable factors such as good external demand, continuous efforts to stabilize foreign trade policies, and increasing confidence of business entities, Shenzhen's foreign trade has made a solid start and grown rapidly, achieving a good start, laying a solid foundation for the steady development of foreign trade throughout the year.

Private enterprises continue to play the role of the main force in foreign trade. According to the data, in the first quarter, the import and export of private enterprises in Shenzhen was 720.96 billion yuan, an increase of 45.2%, accounting for 70.7% of Shenzhen's total import and export value, an increase of 8 percentage points over the same period last year. In the same period, the import and export of foreign-invested enterprises reached 252.63 billion yuan, an increase of 2%, accounting for 24.8% of Shenzhen's total import and export value.

The import and export of general trade and bonded logistics have increased significantly. In the first quarter, Shenzhen's imports and exports in the form of general trade reached 582.07 billion yuan, an increase of 42.7 percent. In the same period, the import and export of bonded logistics was 244.07 billion yuan, an increase of 29.9%.

Imports and exports to the top 10 trading partners all maintained growth. In the first quarter, ASEAN maintained its position as Shenzhen's largest trading partner, with imports and exports of 165.64 billion yuan, an increase of 38.4 percent. During the same period, Hong Kong, the European Union, the United States and Taiwan ranked second to fifth, with imports and exports increasing by 15.1 percent, 10.3 percent, 23.3 percent and 6.3 percent respectively, while imports and exports to South Korea, Japan, India, Australia and the United Kingdom increased by 41.6 percent, 27.3 percent, 38.4 percent, 73.1 percent and 21.6 percent respectively. The total imports and exports to the top 10 trading partners accounted for 74.9% of Shenzhen's total import and export value. (Reporter Wang Feng)