Nine cities in Guangdong's Greater Bay Area see record import and export volumes in first half of the year: Chinese report

According to statistics from the Guangdong Branch of the General Administration of Customs, nine cities in the Greater Bay Area of Guangdong Province - Guangzhou, Foshan, Zhaoqing, Shenzhen, Dongguan, Huizhou and Zhuhai - have signed a trade agreement.
The total import and export volume of the three provinces of Guangdong, Zhongshan and Jiangmen in the first half of the year rose 4.3% year-on-year to 4.38 trillion formers (about 90.6 trillion yen). The growth rate was 0.3 percentage points higher than that of Guangdong Province as a whole.
Of the total exports and imports, exports increased by 1.2% to 2.79 trillion formers (approximately 57.7 trillion yen), while imports increased by 10.2% to 1.59 trillion formers (approximately 3.2 trillion yen).
The total import and export volume, export value, and import value all reached record highs for the same period. The foreign trade volume of the nine cities in the Greater Bay Area continues to grow.
In June, exports and imports increased 4% year-on-year, marking the eighth consecutive quarter of positive growth since the third quarter of 2023. By business entity, both private enterprises and foreign-affiliated enterprises saw their export and import volumes grow.
In the first half of the year, the export and import volume of private enterprises in the nine cities of the Greater Bay Area increased by 4.6% year-on-year to 2.82 trillion former (about 58.3 trillion yen), accounting for 64.4% of the total. The export and import volume of foreign-affiliated enterprises increased by 4.6% year-on-year to 2.82 trillion former (about 58.3 trillion yen), accounting for 64.4% of the total.
By trading partner country, the amount of imports and exports with countries co-constructing the "One Belt, One Road" increased by 3.9% to 1.7 trillion yen.
In terms of export items, machinery and electrical products increased by 7.5% to 1.93 trillion former (approximately 39.9 trillion yen), accounting for 38.7% of the total.
Imports of machinery and electrical appliances increased 19.5% to 1.15 trillion former (approximately 23.8 trillion yen), accounting for 72.7% of the total.