Trade with the B&R countries: growth for the Chinese coastal province

22/07/2019

 

The Fujian province on the east coast of China has seen an increase in trade of 13.6% on an annual basis

 

The links that China is establishing and strengthening with the Belt and Road Initiatives are giving importance even to maritime trade. An example is the province of Fujian, on the east coast of China, which has seen strong growth in trade with Belt and Road countries.

The region, which boasts traditional trade links on the ancient Silk Road, saw its trade volume increase by 13.6% on an annual basis in H1, reaching 220.21 billion yuan ($ 32 billion). According to Xiamen Customs Sunday, the amount represented 34.6% of the total foreign trade of the province.

 

The largest component of Fujian’s imports was crude oil

 

The exchanges between these countries and the Chinese region, mainly see the export of labor-intensive products and mechanical and electrical products. According to the data, exports of fabrics and garments, furniture, bags, shoes, plastic products and toys reached 51.9 billion yuan in the first half, an increase of 23.7% over the previous year. Exports of mechanical and electrical products increased by 26.8% year-on-year to reach 46 billion yuan.

According to customs statistics, the Fujian trade with the countries of the Association of Southeast Asian Nations reached 117.6 billion yuan in H1, an increase of 15.1 percent. The largest component of Fujian’s imports was crude oil, reaching 18.07 billion yuan in H1, up 10.4% year-on-year.

 

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