A freight train departs for Almaty of Kazakhstan, at a transit center in Jiaozhou, east China's Shandong Province, April 27, 2020. (Xinhua/Wang Zhaomai)
BEIJING, April 19 (Xinhua) -- East China's Shandong Province saw its trade with Belt and Road (B&R) countries rise 34.3 percent year on year to 194.4 billion yuan in the first quarter, accounting for 31.5 percent of the province's total foreign trade, according to data released by Shandong provincial government at a press conference held on last Friday.
In the first three months, Shandong's exports to B&R countries reached 102.36 billion yuan, up 34.4 percent year on year, while its imports from those countries went up 34.1 percent year on year to 92.04 billion yuan.
Association of Southeast Asian Nations (ASEAN) was the largest trading partner of Shandong in the first quarter. During the period, the total imports and exports between Shandong and ASEAN amounted to 84.43 billion yuan, up 45.1 percent year on year.
Shandong's trade with Russia, India and the United Arab Emirates (UAE) in the first three months arrived at 28.41 billion yuan, 14.32 billion yuan, and 12.23 billion yuan, up 13.1 percent, 41.4 percent and 74.3 percent year on year respectively.
Crude oil remains the predominant import product of Shandong. From January to March, Shandong imported 42.56 billion yuan of crude oil from B&R countries, up 24.1 percent year on year and accounting for 46.2 percent of the total imports from B&R countries.
The province's main export commodities are mechanical and electrical products. In the first quarter, Shandong exported 45.64 billion yuan of mechanical and electrical products to B&R countries, a year-on-year increase of 45.7 percent and accounting for 44.6 percent of the total exports to B&R countries.
One reason behind the growth in Shandong's trade with B&R countries in the first quarter was that Shandong's investment in B&R continued growing. Data from the provincial department of commerce showed that in the first two months, Shandong invested 300 million U.S. dollars in B&R countries, surging 87.1 percent year on year and accounting for 28.5 percent of the total investment made by the province, according to Zhao Fengjie, a customs inspector in the capital city of Ji'nan.
Besides, production continued to recover in Shandong, leading to a strong demand for importing energy and resources from B&R countries. In the first quarter, Shandong's imports of crude oil, metal ore and cotton from the B&R countries increased 24.1 percent, 67.7 percent and 33.8 percent respectively, driving the total import growth of Shandong from B&R countries by 13.5 percentage points, said Zhao.
He added that China-Europe freight train also plays a role in promoting economic and trade cooperation between Shandong and B&R countries. From January to March, 380 China-Europe freight train (Qilu) trips were made, an increase of 27.1 percent year on year. During the period, Shandong's trade with B&R countries by rail transport reached 5.26 billion yuan, soaring 120.7 percent year on year. (Edited by Su Dan with Xinhua Silk Road, sudan@xinhua.org)
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