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China's Tianjin sees over 40 pct of foreign trade contributed by BRI partners

Source: Xinhua | 2023-10-19
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China's Tianjin sees over 40 pct of foreign trade contributed by BRI partners

TIANJIN, Oct. 19 (Xinhua) -- Over the past decade, north China's Tianjin Municipality saw its accumulated trade with Belt and Road Initiative (BRI) partner countries account for over 40 percent of its total foreign trade, according to Tianjin Customs.

From 2013 to 2022, Tianjin's total trade with the BRI partner countries reached more than 3 trillion yuan (about 418 billion U.S. dollars).

During this period, trade with BRI partner countries contributed by the city's private enterprises rose from 54.78 billion yuan in 2013 to over 142 billion yuan in 2022. The private sector now accounts for more than 40 percent of Tianjin's foreign trade with BRI partner countries.

Notably, Tianjin's import value of automatic data processing equipment and its parts from BRI partner countries soared by 480 percent in 2022 compared with that recorded in 2013.

Mechanical and electrical products were among the city's major exports to BRI partner countries during the period. Its total export value of lithium-ion batteries, solar cells and electric manned vehicles to the countries posted an average annual growth of 17.9 percent over the past 10 years, said the customs. 


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