Shandong's foreign trade hits record high

JINAN - Total revenue from foreign trade rose 7.7 percent year-on-year to 1.93 trillion yuan ($285.4 billion) in eastern China's Shandong province in 2018, a record high, authorities said.

According to figures jointly released by Qingdao Customs and Jinan Customs, Shandong's exports totaled 1.06 trillion yuan last year, the first time for the province to cross the 1 trillion yuan mark. Imports stood at 873 billion yuan. Both exports and imports hit record highs.

Exports and imports by private enterprises reached 1.19 trillion yuan, accounting for 61.7 percent of Shandong's total.

The United States, the European Union, ASEAN, the Republic of Korea and Japan were the top five trade partners, and the combined value of exports and imports with them accounted for 52 percent of the province's total.

Foreign trade with countries and regions along the Belt and Road reached 519.6 billion yuan, with trade rising significantly with Russia and India.