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Overseas-funded Firms Lift up Trade in Guangdong
Exports from overseas-funded companies in Guangdong Province increased by 15.9 percent year on year to reach US$13.46 billion during the first three months of this year, the latest local customs statistics showed on Tuesday.

The export volume from these companies represented 57.3 percent of Guangdong's total exports in the first quarter.

The good export performance from overseas-funded companies helped Guangdong achieve a total export volume of US$23.49 billion during the January-to-March period, up 16.6 percent from the same period the previous year.

Guangdong, the biggest foreign trader of all provinces on the Chinese mainland, achieved an import and export volume of US$43.96 billion in the first three months of this year, a year-on-year increase of 14.7 percent.

Imports notched up US$20.47 billion, representing growth of 12.6 per cent.

The southern Chinese province had a foreign-trade surplus of US$3.02 billion in the three months ending in March.

Guangdong's foreign-trade volume accounted for 36 percent of the Chinese mainland's total in the first quarter.

Exports from Guangdong's State-owned enterprises reached US$8.5 billion, up 10.9 percent.

Exports from collectively owned firms grew 37.7 percent to hit US$900 million, while the province's privately run companies contributed US$630 million worth of exports, 1.8 times more than the same period the previous year.

Machinery and high-tech products became the biggest foreign-exchange earners in the first three months.

The export volume of machinery and electronic products came to US$14.2 billion, up 21.4 percent.

Guangdong's exports to Asia stood at US$13.23 billion, up 20.1 percent. Exports to North America grew 11.2 percent to reach US$5.69 billion, while exports to Europe rose 11.4 percent to reach US$3.51 billion.

(People's Daily April 17, 2002)

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