High-end manufacturing products have become the main driver of export growth in east China's Yangtze River Delta as industrial upgrading and technological development continually improve the region's foreign trade structure.
The latest data released by Shanghai Customs showed that in the first 10 months of 2024, the value of imports and exports to and from the Yangtze River Delta reached 13.21 trillion yuan (about 2 trillion U.S. dollars), rising 5.3 percent year on year and accounting for 36.7 percent of the national total.
The export value of automobiles surpassed 274 billion yuan (about 37.89 billion U.S. dollars), increasing by 5.4 percent year over year. The export value of integrated circuits stood at around 374 billion yuan (about 51.72 billion U.S. dollars), marking a 16-percent year-on-year growth. Over the first 10 months, the region exported about 165 billion yuan worth of vessels, growing by 74.6 percent compared with the same period last year, the data showed.
"The export value of high-end manufacturing products such as ships and integrated circuits reached double-digit growth, indicating the upgrading of industrial and technological levels in the Yangtze River Delta region, and the further optimization of regional foreign trade structure. The excellent performance of the region's high-end manufacturing industry and the fast growth of the private economy jointly promote the continuous export growth of the Yangtze River Delta," said Zheng Hao, deputy director of the statistical analysis division of Shanghai Customs.
In the first 10 months, the region's private enterprises imported and exported 7.14 trillion yuan (about 987 billion U.S. dollars) worth of goods, increasing by 8.2 percent year over year, according to the released data.
High-end manufacturing products become main export growth driver of Yangtze River Delta
Visiting Chinese Foreign Minister Wang Yi said Saturday China is willing to work with Lesotho to strengthen exchanges on governance experience, enhance coordination in multilateral affairs, and advance the China-Lesotho strategic partnership.
Wang, also a member of the Political Bureau of the Communist Party of China Central Committee, made the remarks when meeting with Lesotho Prime Minister Sam Matekane in the capital of Lesotho.
During the meeting, Wang congratulated Lesotho on the 60th anniversary of its independence this year, and spoke highly of Lesotho government's efforts to prioritize economic development and steer the African country onto a path of sustainable growth. Since the Beijing Summit of the Forum on China-Africa Cooperation (FOCAC) in 2024, the two sides have advanced cooperation under the 10 partnership action plans unveiled at the summit, successfully implementing a number of key projects to effectively promote Lesotho's development and revitalization, Wang said.
China stands ready to work with Lesotho to strengthen exchanges on governance experience, enhance coordination in multilateral affairs, and push for greater development of the China-Lesotho strategic partnership, he added.
Calling on the two sides to firmly support each other, Wang said that China will accelerate the implementation of its zero-tariff policy for African countries, including Lesotho, expand bilateral trade, investment and industrial cooperation, facilitate broader access of Lesotho's specialty products to the Chinese market, and continue to support Lesotho's national development.
China will continue to stand firmly with African countries, uphold justice for the Global South, including Lesotho, oppose unilateralism and acts of bullying, and work together to build a community with a shared future for humanity, Wang said.
On his part, Matekane said during the meeting that Lesotho cherishes its friendship with China and the strategic partnership between the two countries, and expressed gratitude for China's valuable support for the development of African countries, including Lesotho.
Lesotho firmly adheres to the one-China principle and resolutely supports China in safeguarding its core interests, he said, noting that his country stands ready to strengthen strategic mutual trust with China, expand people-to-people exchanges, jointly implement the outcomes of the FOCAC Beijing Summit, and deepen cooperation in areas such as infrastructure, manufacturing and energy.
Matekane stressed that China's zero-tariff policy for African products will inject new impetus into Lesotho's development. He also expressed Lesotho's willingness to strengthen solidarity and cooperation with China on multilateral platforms such as BRICS to jointly address global challenges.
On the same day, Wang also held talks with Lejone Mpotjoana, minister of foreign affairs and international relations of Lesotho.
China, Lesotho to strengthen exchanges, advance cooperation
China, Lesotho to strengthen exchanges, advance cooperation
