According to statistics by Qingdao customs, in the first quarter of this year, Qingdao's total import and export volume reached 211.16 billion yuan ($29 billion), a year-on-year increase of 2.3 percent. This accounted for 25.7 percent of Shandong's total import and export value during the same period.

Exports amounted to 127.69 billion yuan, an increase of 6.9 percent, while imports were 83.47 billion yuan, a decrease of 4.1 percent. Among the top five sub-provincial cities in China (Shenzhen, Ningbo, Guangzhou, Xiamen, Qingdao), Qingdao ranked third after Guangzhou and Ningbo in terms of import and export growth rate.

General trade imports and exports slightly decreased, while bonded logistics imports and exports grew rapidly. General trade imports and exports amounted to 140.44 billion yuan, a decrease of 4.2 percent, accounting for 66.5 percent of the total import and export value.

Private enterprises accounted for nearly 70 percent, with State-owned enterprises growing rapidly. Imports and exports of private enterprises reached 146.19 billion yuan, an increase of 3.4 percent, accounting for 69.2 percent, an increase of 0.7 percentage points. Imports and exports of state-owned enterprises were 29.2 billion yuan, an increase of 26.5 percent, accounting for 13.8 percent.

The proportion of imports and exports with countries taking part in the Belt and Road Initiative increased. Imports and exports with BRI countries reached 122.02 billion yuan, an increase of 8.5 percent, accounting for 57.8 percent, an increase of 3.3 percentage points. Imports and exports with other RCEP member countries were 71.33 billion yuan, an increase of 2.1 percent, accounting for 33.8 percent.

Exports of electromechanical products achieved double-digit growth. The export value of electromechanical products was 65.67 billion yuan, an increase of 10.8 percent, accounting for 51.4 percent of total exports.

In the first quarter of this year, Qingdao's total import and export volume reached 211.16 billion yuan, a year-on-year increase of 2.3 percent. [Photo/Guanhai News]