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​Jinan foreign trade grows by 29% in Q1

Workers inspect cargo at Jinan customs. [Photo/Jinan Daily]

Foreign trade in Jinan, capital of East China's Shandong province, reached 35.53 billion yuan ($5.47 billion) in the first three months of this year, a year-on-year growth of 29 percent.

According to Jinan customs, the city's imports stood at 16.13 billion yuan, up 23.4 percent, while imports hit 19.4 billion yuan, up 34 percent. In March, the city's foreign trade was valued at 12.94 billion yuan, an increase of 15.4 percent year-on-year.

In the first quarter of this year, the city's general trade rose by 33.1 percent to 32.15 billion yuan, accounting for 90.5 percent of the city's total foreign trade.

Imports and exports of private enterprises in Jinan reached 21.53 billion yuan, up 22.8 percent and accounting for 60.6 percent of the total. The figure for foreign-invested enterprises reached 8.06 billion yuan, up 72.5 percent, while imports and exports of State-owned enterprises reached 5.88 billion yuan, up 11 percent.

Jinan's foreign trade to countries involved in the Belt and Road Initiative increased by 21.9 percent to 11.79 billion yuan.

The foreign trade increase in Jinan during the period was partly due to the rapid development of Eurasian freight trains.

From January to March of this year, 88 trips were made by Qilu Europe-Asia freight trains in the city. Jinan currently has 11 Eurasian freight train routes connecting it with 45 cities in 18 countries.

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