Province excels in foreign trade
Increasing foreign trade has made Heilongjiang a major exporting power in China's central, western and northeastern regions.
Last year, the province's foreign trade volume reached $12.86 billion, an increase of 380 percent from 2001 and representing an average annual growth rate of 30.6 percent.
Businesspeople from home and abroad visit the 17th Harbin Trade Fair held in June last year. |
This makes Heilongjiang rank 11th among China's provinces, municipalities and autonomous regions in terms of foreign trade, compared with 14th place in 2002. The figure also means that Heilongjiang has become the largest exporting province in China's central, western and northeastern regions.
This achievement has been made possible by the implementation of a globalization strategy since the beginning of the 21st century.
To promote its economic growth in the context of deepening economic globalization, the province has implemented a new opening-up strategy since 2001, featuring attracting foreign investment, strengthening foreign trade and encouraging local enterprises to go global.
The foreign-oriented economy is playing an increasingly important role in the province's present economic development.
At least 2 percent of Heilongjiang's gross domestic product (GDP) growth is now attributed to foreign trade, and tax revenues generated by such trade accounts for more than 20 percent of the province's total.
Of this, trade with Russia accounts for the lion's share in the province's total foreign trade volume.
Last year, Heilongjiang's trade with Russia was valued at $6.69 billion, representing an increase of $4.89 billion from 2001, or an average annual growth of 30 percent.
In 2006, trade with Russia accounted for 52 percent of the province's total foreign trade volume and 20 percent of total China-Russia trade. For many years, Heilongjiang has been one of the leading provinces in China in terms of Sino-Russian trade.
A new passenger transportation route from Harbin in Heilongjiang to Vladivostok in Russia is put into operation in May last year. |
Last year, Heilongjiang's labor service exports to Russia were valued at $200 million, a four-fold increase from 2001. Its investments in Russia amounted to $837 million, compared with $763,000 in 2001.
While consolidating its traditional markets in Russia, the United States, the European Union, Japan and the Republic of Korea, the Northeast China province has actively explored new markets in the Democratic People's Republic of Korea, Mongolia, the ASEAN countries, the Middle East, South America and Africa. The province currently has trade ties with 210 countries and regions.
The province's economic development zones and parks have been the major force in its foreign-oriented economy. During the past five years, the zones and parks have realized a total foreign trade volume of $8 billion and attracted $1.18 billion worth of foreign investment.
(China Daily 06/08/2007 page20)
