Hainan's Haikou foreign trade turnover up 32.8% in January-July

HAIKOU, August 31. /TASS/. Foreign trade volume in Haikou city (the administrative center of the southern Chinese province of Hainan) grew 32.8% to 33.657 billion yuan (about $4.885 billion) in the first seven months of this year. This represents about 30% of the region's total foreign trade volume, the Hainan Daily newspaper reported.

According to customs statistics, most of the transactions involved trade in common goods, as well as items that are not subjected to duties. Imports of common products showed growth, while imports of duty-free goods declined due to the negative impact of the pandemic.

In the first seven months of this year, Haikou exported 762 million yuan (about $110.6 million, annual growth of 40.2%) worth of agricultural products, while exports of machinery and electronics products reached 3.083 billion yuan (about $447.5 million), up 59.6% year-on-year.

Imports of hard coal and lignite reached 2.63 billion yuan (about $381.7 million, up 177.1%) and rare earth metals reached 1.97 billion yuan (about $285.92 million, up 929.8% over the same period last year). Imports of metal ores also rose 182.8% year-on-year to 3.35 billion yuan (about $486.2 million).

Foreign trade volume of southern China's Hainan Province grew 49.4% in the first seven months of this year in annual terms and reached 110.5 billion yuan (about $16.4 billion).