Statistics showed foreign trade via the Shanghai customs enjoyed rapid growth in January, mainly from its neighboring Jiangsu and Zhejiang provinces in East China.

The port city hopes to realize total exports of US$33.5 billion this year and utilize US$5.5 billion of overseas investment, Vice-Mayor Zhou Yupeng told an annual work conference of Shanghai customs yesterday.

The vice-mayor urged the customs authority to increase support for overseas trade of the integrated circuit (IC) industry - one of the four backbone industries in the economic hub.

Zhou said the city has formed four backbone industries: IC industry in the eastern Zhangjiang High-tech Park, auto industry in the western suburbs, chemical sector in the south and steel industry in the north.

Shanghai customs are expected to allow relevant businesses in the four zones to seek imports and exports in advance. These companies will consequently enjoy immediate processing at customs, said Lu Peijun, director with Shanghai customs.

"We will actively co-operate with the Shanghai municipal government on its plan to propel the development of the four key industries," said Lu.

Imports and exports via Shanghai customs totaled US$142.5 billion last year, accounting for 23 per cent of the mainland total and increasing 18.3 percent on the previous year, official statistics said.

(China Daily February 12, 2003)