This year, the value of the processing industry in Shandong Province in terms of export/import values soared to US$ 69.2 billion, at 12.1 percent increase from last year, according to the latest statistics from the provincial Department of Commerce.

The volume of exports by domestic-funded enterprises reached US$12.3 billion, up 32 percent. The growth rate in the industry exceeded the provincial average.

Statistics also show that processing trade methods in Shandong have been improved. The value of exports for processing with imported materials reached US$ 39.2 billion, up by 13.9 percent and accounting for 85 percent of the total value of exports for processing in Shandong.

Tire and transportation goods exports from the province were valued at more than US$ 5 billion. Agricultural product and garment exports exceeded US$ 2.5 billion.