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Shenzhen sees drop in foreign trade in 2015

Xinhua, January 21, 2016 Adjust font size:

Foreign trade volume in Shenzhen dropped by more than 8 percent year on year, new customs figures show.

Trade volume in the southern China trade hub was 2.7 trillion yuan (about about 421 billion U.S. dollars) in 2015, down 8.2 percent from 2014.

Exports were valued at 1.6 trillion yuan, down 6 percent and imports dropped 11.1 percent to 1.1 trillion yuan, according to the latest figures.

"Shenzhen was faced with a tough foreign trade situation in 2015. Customs has taken measures to help companies shift from reliance on low-cost goods to achieve more added value for exports," said Wang Keguang, head of the customs.

Last year, about 80 percent of the exports were mechanical and electric products. Companies such as Huawei, Zhongxing, TCL home appliances and Dajiang drones, which export products through Shenzhen, have been contributed to the growth of hi-tech exports, said Wang.

Cross-border e-commerce has become the new growth point for foreign trade, said Wang. More than 4,000 e-commerce companies have registered in the Qianhai free trade zone in Shenzhen. Endi