Shanghai, China's largest economic and business hub, reported a record 76 billion US dollars of foreign trade in the first quarter of this year, up 25.7 percent year-on-year, according to the municipal customs.

The city's exports reached 45.68 billion US dollars in the first three months, up 37.9 percent year-on-year, while imports hit 30.29 billion US dollars, up 10.9 percent.

Shanghai recorded sharp increase in ordinary trade during the same period with imports and exports totaling 33.5 billion US dollars, up 20 percent year-on-year, the source said.

The city's processing trade also witnessed a strong growth momentum which reaped 33.8 billion US dollars in imports and exports in the first quarter, up 36 percent over the previous year.

Exports of machinery and electrical products by Shanghai in the first quarter increased by 44 percent to hit 25.9 billion US dollars.

However, declines were reported in the imports of rolled steel, raw plastics, refined oil products, vehicles as well as auto parts in the first quarter, the source added. 

(Xinhua News Agency April 18, 2005)