Beijing's imports and exports stay stable in Q1

0 Comment(s)Print E-mail, April 22, 2022
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In the first quarter, Beijing registered a total trade volume of 799.16 billion yuan, up by 17% year on year and 6.3 percentage points higher than the national average, according to Beijing Customs. 

Of the total trade volume, import increased by 22.3% to 667.05 billion yuan while export declined by 5.9% to 122.11 billion yuan. 

The rising prices of primary goods were mainly responsible for the import growth. A large amount of the import made by headquarters of enterprises in Beijing expanded the scale of Beijing's import, according to a person in charge of Beijing Customs. 

Due to the rising prices of global primary goods recently, the import prices of crude oil, liquefied natural gas, and coal and brown coal surged by 50.5%, 99.3%, and 121.4%, respectively, driving up the import of these goods by 43.6%, 76%, and 97.3%, respectively. The import volume of the three primary goods made up 51.6% of the total, contributing to 92.3% of the growth of Beijing's total import.

As an international scientific and technological innovation center, Beijing's new and high-tech industries saw sound development. In the first quarter, the total value of devices used for manufacturing semi-conductors and integrated circuits imported by Beijing skyrocketed to 4.13 trillion yuan, up 564.5% year on year. With the improvement of production capacity for new and high-tech products, their export also expanded. The export value of CPUs totaled 1.84 billion yuan in the first quarter, soaring 807.9% year on year. 

Beijing's trade with Belt and Road countries =totaled 431.49 billion yuan, growing by 23.9% year on year and accounting for 54% of the total trade. 

Beijing Customs have used a special program to facilitate cross-border trade for five consecutive years. It rolled out 124 measures and made marked progress in simplifying certificates requirements, improving procedures, shortening clearance time, and reducing costs. Beijing Customs continue to improve the city's business environment in line with the Business Enabling Environment, an assessment system of the World Bank. 

In the first quarter, the clearance time of imports and exports in Beijing Customs set new records of 28.94 hours and 0.78 hours, lowered by 73.14% and 89.44%, respectively, compared to 2017.

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