BEIJING, Nov. 23 (Xinhua) -- Imports and exports of south China's Hainan province totaled 68.29 billion yuan in the first ten months this year, up 20.4 percent year on year, according to data by Haikou Customs.
Foreign trade growth averaged at 11.3 percent nationwide during the period, and this is the first time that Hainan surpassed the country's growth rate, reported China Securities Journal.
Hainan's foreign trade growth could be attributed to substantial growth of raw material imports and product exports driven by accelerating industrial transformation and upgrading and the capacity expansion of relevant chemical enterprises.
In addition, the tax reduction policy together with offshore duty free policy also drove the growth of consumer goods imports. (Edited by Niu Huizhe, niuhuizhe@xinhua.org)
A single purchase
