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Shanghai Exports Up 41.2 Percent in January-August
Shanghai's exports for the first eight months this year totaled 16.26 billion U.S. dollars, up 41.2 percent over the same period last year, according to latest customs statistics.
During the period, the city's imports reached 18.69 billion U.S. dollars, 2.43 billion U.S. dollars more than exports, showing that China's domestic demand is increasing.
Shanghai is China's second largest exporting base after Guangdong Province in the south. The city contributed to one tenth of the country's exports.
During the period, Shanghai approved 1,194 new overseas-funded projects with a contractual value amounting to 3.1 billion U.S. dollars, rising 20.6 percent and 11.7 percent, respectively.
Zhu Xiaoming, director of Shanghai Municipal Foreign Trade and Economic Cooperation Commission, said that the profitability of overseas-invested companies is improving.
From January to July, profits of the 15,000 overseas-invested companies in operation reached 8.69 billion yuan, and taxes they paid to the state amounted to 7.26 billion yuan, increasing 124.3 percent and 9.2 percent respectively, he said.
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