Tech-savvy Shanghai beats import blues

Despite difficulties and uncertainty clouding China's businesses engaged in imports and exports over the past few months, Shanghai has managed to find its way out by focusing on imports of high-tech products.

During the first three quarters of 2015, Shanghai's overall imports dropped 6.5 percent year-on-year to $236.8 billion, according to the Shanghai Customs District. However, during the same period, imports of high technology products increased 1.2 percent year-on-year to reach 497.2 billion yuan ($75.6 billion).

Jiang Shoulei, deputy director of the Shanghai Integrated Circuit Industry Association, said Shanghai's IC industry should work with global industry leaders having the latest technologies to sustain the growth momentum.