Guangdong's foreign trade volume registered 3.91 trillion RMB in the first half of 2022, up 2.8 percent, remaining the top in China, according to the Guangdong Sub-administration of GACC. Its export volume stood at 2.47 trillion RMB, up by 7.3 percent.
Guangdong's foreign trade accounted for 19.8 percent of China's total foreign trade value in the first half of 2022, contributing 0.6 percentage points to the increase in the national foreign trade.
Thanks to a series of incentives carried out in Q2, Guangdong's foreign trade saw positive growth. In June, the province's foreign trade reached 703.4 billion RMB, up 7.1 percent, including an export volume of 441.2 billion RMB and an import volume of 262.1 billion RMB.
More specifically, Guangdong exported 1.66 trillion RMB worth of mechanical and electrical products, up by 4.8 percent, accounting for 67.4 percent of the total high-tech export. The rising exports of intelligent products shows that Guangdong continues to move its industries up to the medium-high end of the global value chain.
The regional development is more balanced, reflecting the high-quality foreign trade in Guangdong. The growth rate of foreign trade in the east, west, and north of Guangdong was 15.2 percentage points higher than that of the Pearl River Delta, accounting for 5.3 percent of the province's total.
Since the RCEP came into effect, the trade between Guangdong and ASEAN, its largest trading partner, became more robust, with a trading volume of 617.56 billion RMB in the first half of 2022, an increase of 4.9 percent.
At the same time, the trade between Guangdong and the United States, the European Union, and the Taiwan region of China grew steadily, up by 18.8 percent, 11 percent, and 7.5 percent, respectively.
"Guangdong's foreign trade is resilient and dynamic, growing stably. Regarding the total trade volume, Guangdong remains at the top in China, making great contributions to stabilizing the country's foreign trade," said an official from the Guangdong Sub-administration of GACC.
Author: Lynette (Intern)
Editor: Wing, Nan, Abby, Jerry
