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Yantai foreign trade sees steady growth in first three quarters
Updated : 2020-10-26
(chinadaily.com.cn)
The imports and exports of Yantai, a coastal city in Shandong province, saw steady growth in the first three quarters, local media reported.
The city's foreign trade value reached 221.79 billion yuan ($33.17 billion), an increase of 3.4 percent over the same period last year.
In September, Yantai's foreign trade was valued at 35.83 billion yuan, up 34.7 percent year-on-year. Exports reached a value of 21.74 billion yuan, up 28.8 percent, while imports reached a value of 14.09 billion yuan, up 45.1 percent.
This year, Yantai customs took measures to make customs clearance faster. It simplified registration and filing procedures for enterprises and shortened the average time needed to file enterprises to just 30 minutes. It also improved service efficiency to help promote on-site inspections.
From January to September, Yantai exported 14.98 billion yuan in labor-intensive products, up 46.4 percent year-on-year. Exports of fresh and dried fruits and nuts reached 4.11 billion yuan, up 72.5 percent year-on-year.
Imports of integrated circuits reached 14.95 billion yuan, up 12.9 percent year-on-year, and imports of crude oil reached 8.5 billion yuan, a threefold increase. Soybean imports reached 5.15 billion yuan, up 108.9 percent year-on-year.