Guangzhou’s foreign trade reached 163.72 billion yuan (US$22.74 billion) in January and February of this year, an increase of 9.2 percent year-on-year, figures published by Guangzhou customs authorities show.
The growth is greater than the national increase over the same period, which stood at 8.7 percent, according to various media outlets.
There was a sizable year-on-year jump of 20.4 percent in exports, reaching a total value of 93.57 billion yuan (US$13 billion). Imports meanwhile came 70.14 billion yuan (US$9.74 billion), a drop of 2.8 percent year-on-year.
[See more: Foreign businesses remain positive about China, a survey finds]
As the capital of Guangdong, the province with the largest economy in China, Guangzhou has seen its foreign trade propelled by high-end manufacturing. The city’s export of flat panel display modules, for example, rose by more than 15 percent compared to the same period last year, while the export of cars nearly doubled.
Last year, the province saw its exports and imports reach a record volume of 8.3 trillion yuan (US$1.16 trillion). Trade with the US surged by 8.3 percent year-on-year in spite of tensions between Beijing and Washington.
A study published by the American Chamber of Commerce in South China last month meanwhile revealed that foreign companies remained confident about doing business in China. Three quarters of the enterprises polled considered the business environment in Southern China to be “excellent” or “good.”
