Guangzhou's imports and exports surge in the first quarter of 2017
Guangzhou’s foreign trade got off to a strong start in the first quarter, with import and export volume growing 31.9 percent over the same period in 2016 to 242.8 billion yuan. At the same time, the import and export volume of Guangdong province increased by 15.4 percent year-on-year to 1.45 trillion yuan, according to data released by Guangzhou customs office.
On March 6, Guangzhou officially launched a national pilot mode of market procurement trade, which is a convenient, efficient, sharing and online regulatory platform for market procurement trade. The platform has 172 businesses with over 10,000 products, of which 155 are foreign trade runners. The market procurement export value in Guangzhou through this platform reached 3.25 billion yuan through March 31.
In the first two months, Guangzhou’s cross-border e-commerce business grew by 16.2 percent over a year ago, ranking first among 60 cities engaged in e-commerce business. Moreover, Guangzhou’s import of automobiles and diamonds showed good development momentum. Over 4,000 cars reached the Nansha port in Q1, 1.5 times as many as in the same period last year, while total diamond imports increased 26.2 percent.
According to an official of the Guangzhou Municipal Commission of Commerce, in order to enhance the development of foreign trade, Guangzhou continues to attract investments through multiple channels. In the first three months, over 38,000 enterprises worth 300 billion yuan in registered capital were established in Guangzhou, a growth of 54.1 percent over the same period in 2016. Also, about 300 Fortune Global 500 corporations have launched nearly 800 projects in Guangzhou, according to officials. Sakai Display Products Corp., a subsidiary of the world's largest electronics contractor, Foxconn Technology Group, plans to invest 61 billion yuan to produce 10.5 generation panel, substrate glass and related product lines in Guangzhou. It is by far the biggest foreign investment project in four decades in Guangzhou.
Guangzhou will accelerate the development of new types of business, including financial leasing, automobile imports and the diamond trade, and will further promote the import and export of high-tech and high-value-added products, such as automobiles, ships, aircraft, electronic products and medical equipment to enhance the transformation and upgrading of trade.