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GBA’s 9 mainland cities register steady foreign trade growth in Jan-April

China

China

China

GBA’s 9 mainland cities register steady foreign trade growth in Jan-April

2025-05-15 20:27 Last Updated At:23:37

The nine cities of Guangdong province in the Guangdong-Hong Kong-Macao Greater Bay Area (GBA) saw steady foreign trade expansion from January to April, customs data showed Wednesday.

In the first four months this year, the total imports and exports of the nine cities reached 2.85 trillion yuan (about 400 billion U.S. dollars), marking a 5.4 percent year-on-year increase.

This growth rate outpaced Guangdong's overall performance by 0.5 percentage points, with the nine cities accounting for 96.4 percent of the province's total foreign trade value, solidifying their role as Guangdong's economic anchor.

Export values climbed to 1.8 trillion yuan, up 2.3 percent. Emerging export sectors including new energy vehicles, lithium-ion batteries and solar cells collectively surged 40.4 percent, while motorcycle exports jumped 43.2 percent.

Import growth proved even more robust at 11.1 percent to 1.05 trillion yuan, driven primarily by integrated circuit purchases which rose 14.4 percent to 390.65 billion yuan, representing 37.1 percent of total imports. Semiconductor manufacturing equipment imports soared 68.8 percent and computer imports more than doubled with 124.2 percent growth.

The sustained trade expansion in the Greater Bay Area, encompassing Guangzhou, Shenzhen and seven other Guangdong cities alongside Hong Kong and Macao special administrative regions, highlights the region's continued importance as China's manufacturing and innovation hub despite global economic headwinds, with technology products and consumer goods serving as dual growth engines.

GBA’s 9 mainland cities register steady foreign trade growth in Jan-April

GBA’s 9 mainland cities register steady foreign trade growth in Jan-April

The central parity rate of the Chinese currency renminbi, or the yuan, strengthened 20 pips to 7.0108 against the U.S. dollar Monday, according to the China Foreign Exchange Trade System.

In China's spot foreign exchange market, the yuan is allowed to rise or fall by 2 percent from the central parity rate each trading day.

The central parity rate of the yuan against the U.S. dollar is based on a weighted average of prices offered by market makers before the opening of the interbank market each business day.

Chinese yuan strengthens to 7.0108 against USD Monday

Chinese yuan strengthens to 7.0108 against USD Monday

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