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Pudong Sees Big Rise in Foreign Trade

Shanghai's Pudong New Area reported a year-on-year 55.5 percent rise of foreign trade to reach US$12.38 billion in the first seven months of this year, according to local customs.

Imports rose 71.6 percent to reach US$7.74 billion and exports grew by 34.4 percent to reach US$4.64 billion.

General trade accounts for some 43.2 percent of the foreign trade, or US$5.34 billion, a 63 percent rise on a yearly basis.

State-owned enterprises in Pudong made US$2.5 billion in imports in the seven-month period, up 51 percent from 1999's figure, and US$2.45 billion in exports, up 43.7 percent.

Foreign trade by overseas-funded enterprises in the district was US$7.39 billion, accounting for 67.5 percent of local foreign trade.

Electro-machinery, integrated circuits, micro-electronic components, data-processing equipment and parts contributed 72 percent of the total trade in the seven months.

Japan remains the largest trade partner with Pudong, followed by the US and Germany.

Bilateral trade between Pudong and Japan was US$2.55 billion during the January-July period.

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