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Shandong's trade with Africa soars 69.9pc in first four month
Sources of information: Qingdao Jinhan International Logistics     Date Time: 2013-06-14

EASTERN China's Shandong province recorded US$5.07 billion in the trade value with Africa during the first four months of this year, a sharp increase of 69.9 per cent compared to the same period in 2012.

Export valued climbed 16.3 per cent to $1.62 billion. Imports surged 120 per cent to $3.44 billion.

In April, Shandong's trade with Africa set a new high since 2009 with $1.46 billion, up 66.2 per cent year on year. Export grew 10.2 per cent to $430 million. Import jumped 110 per cent up to $103 billion.

Electrical and mechanical products, textile and rubber tyres are the top three categories of exports to Africa. Imports are mainly resource commodities, where crude oil accounted for nearly 70 per cent.

An unspecified staff from the customs of Qingdao said the robust growth was a result of China's policy to open up more to the African market. The tariff exemption policy to African products lowers import cost and enhances competitive advantages of these products in the Chinese market. Developing Sino-African trade is one of the ways to tackle rising trade protectionism.

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