Foreign trade up 590b yuan in a decade

Editor: Shenzhen's foreign trade increased from 2.95 trillion yuan ($415 billion) in 2012 to 3.54 trillion yuan in 2021, with its exports taking the lead among Chinese mainland cities for 29 consecutive years, data from Shenzhen Customs showed.

Recently, at the G11 production area of TCL China Star Optoelectronics Technology (TCL CSOT) in Guangming district, 8K panels meant for export were manufactured. Established in 2009, the company specializes in advanced display technologies and has four manufacturing centers in Shenzhen, Wuhan, Huizhou and India.

A view of the Yantian Port in Yantian district. [Photo/WeChat account: iloveshenzhen]

In 2021, the company's foreign trade totaled nearly 38 billion yuan, over 10 times its trade figure from a decade ago.

Over the past 10 years, the foreign trade of Shenzhen's private enterprises had increased 110 percent from 1.03 trillion yuan in 2012 to 2.16 trillion yuan in 2021.

At the Qianhai Comprehensive Bonded Area, Shenzhen Customs uses the Multi-Country Consolidation (MCC) method, a cost-effective solution that consolidates cargo from different countries of origin to ensure full container loads.

Under this new logistics method, enterprises can source commodities globally by utilizing the 160 container routes that stem from the city's western port.

Meanwhile, export products from domestic enterprises can also be combined with transshipment commodities to create full container loads. The MCC method, Sino-European trains and air express have been a boon to the growth of cross-border e-commerce.

Between January and August, the Qianhai Comprehensive Bonded Area's foreign trade increased by 41.8 percent year-on-year to 135 billion yuan. Four enterprises in the bonded area saw their foreign trade exceed over 10 billion yuan. The number of enterprises with an annual trade volume of more than 1 billion yuan was 16.

The city's cooperation in industrial and supply chains with countries under the Belt and Road Initiative has also been further enhanced.

The throughput of the Guangdong-Hong Kong-Macao Greater Bay Area (GBA) Sino-European trains from Shenzhen to European and Asian countries has reached 141,000 metric tons since the first train was put into operation Aug 18, 2020.