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China's Shandong sees trade growth with RCEP members in H1

Updated: July 25, 2022 08:45    Xinhua

JINAN — East China's Shandong province has reported that its trade with members of the Regional Comprehensive Economic Partnership (RCEP) reached 587.47 billion yuan (about $87 billion) in the first half of 2022, up 22.9 percent year-on-year, according to Qingdao Customs.

In the first six months, the exports surged 30.9 percent year-on-year to 346.13 billion yuan, while its imports grew 13.1 percent to 241.34 billion yuan.

During the period, Shandong's trade with the Republic of Korea, Malaysia and Japan reached 137.26 billion yuan, 116.33 billion yuan and 93.27 billion yuan, respectively, up 10.7 percent, 70.5 percent and 7.9 percent year-on-year. The trade volume with these three countries made up 59 percent of the province's total with RCEP members.

Private enterprises contributed more than 70 percent of Shandong's trade with RCEP members, with a total trade volume of 428.22 billion yuan in the first six months, up 33.8 percent year-on-year.

Some 59,000 certificates of origin under RCEP were also issued by authorities in the province during the period.

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