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Why Jinan: Jinan's foreign trade volume surges 40.1% in 2021

The foreign trade volume in Jinan, capital of East Chinas Shandong province hit 194.42 billion yuan ($30.7 billion) in 2021, which was a 40 percent increase from 2020, the local municipal government announced during a press conference on Jan 21.

Last year, the city's imports reached 77.01 billion yuan, up 21.5 percent from 2020 while its exports were valued at 117.41 billion yuan, a 55.6 percent increase.

The city's total import and export value ranked 6th in the province, accounting for 6.6 percent of the province's total volume of imports and exports.

The imports and exports of general trade and processing trade also increased significantly. From January to December, 2021, Jinan's general trade imports and exports amounted to 167.72 billion yuan, up 39.8 percent and accounted for 86.3 percent of the city's total import and export value.

Private enterprises were the main drivers of the city's imports and exports. In 2021, imports and exports of private enterprises were valued at 122.2 billion yuan, up 38.2 percent from 2020 and accounted for 62.9 percent of the city's total.

Jinan's imports and exports with ASEAN countries reached 37.02 billion yuan, up 31.3 percent from 2020. Imports and exports with the European Union (excluding the UK) reached 19.89 billion yuan, an increase of 9 percent.

The city's foreign trade with countries involved in the Belt and Road Initiative increased by 37.7 percent to 66.39 billion yuan, accounting for 34.1 percent of the city's total.

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