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Beijing's foreign trade volume exceeded US$125 billion in 2005, creating a new high.

 

Figures released by Beijing Customs show that the city's total foreign trade volume in the past five years reached US$393 billion.

 

In 2005 alone, Beijing's trade volume soared to new highs of US$94.9 billion worth of imports and US$30.9 billion worth of exports, up 28.3 percent and 49.5 percent respectively.

 

Analysts said Beijing's foreign trade is marked with new features in the past year, in addition to the rapid growth in both exports and imports.

 

The city's processing trade, with a trade volume amounting to US$15.2 billion, saw a 44-percent and 56-percent of growth in imports and exports respectively.

 

With a trade volume of US$27.1 billion, up by 46.6 percent from the same period of the previous year, foreign companies contributed 67.3 percent of the city's total trade volume.

 

The private economy reported a 93.6-percent growth in trade volume which totaled US$2.79 billion.

 

Self-employed businesses, setting foot in the export market for the first time, registered US$392,000 worth of goods.

 

The European Union continued to be Beijing's No. 1 trade partner. Japan came the second. The United States and the Republic of Korea took the third and fourth place.

 

The exports of high-tech products surpassed the imports for the first time in 2005, taking up over 50 percent of the trade volume which stood at US$19.56 billion.

 

NE China Province Reports Soaring Foreign Trade

 

Foreign trade in northeast China's Liaoning Province showed great growth momentum with the turnover doubled during the past five years.

 

Statistics from the Customs of the province's capital Shenyang show that the foreign trade turnover in Liaoning reached US$41 billion last year, more than double the volume in 2001.

 

The export volume of the province in 2005 amounted to US$23.4 billion, up 110 percent from that five years ago.

 

The customs source said general trade and processing trade are still playing a dominant role in Liaoning's foreign trade.

 

About US$20 billion of foreign trade was related to processing business last year, accounting for 47 percent of the province's total foreign trade.

 

The private sector in Liaoning also showed great vigor. The aggregate import and export turnover of private companies reached US$4.7 billion in 2005, 17 times the figure five years ago.

 

(Xinhua News Agency January 17, 2006)