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ROK becomes 2nd largest trading partner of Shandong Province

Xinhua, August 4, 2015 Adjust font size:

Republic of Korea (ROK) has become the second largest foreign trading partner of east China's Shandong Province after the United States, according to local customs on Tuesday.

In the first half of this year, Shandong's imports and exports to ROK totaled 95.6 billion yuan (about 15.4 billion US dollars), accounting for 13.6 percent of the province's total imports and exports.

Shandong was a major farm products provider for ROK, and mechanical and electrical products were among the main import and export goods between the two.

The improved trade was attributed to a free trade agreement signed by China and ROK this June, and the development of cross-border e-commerce business.

"We export more types of commodities to ROK and the volume is growing at a monthly rate of about 50 percent," said Yu Tao, manager of Weihai Shimaotong International Trade Co., Ltd. Endi