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Xinhua Silk Road
Trade

China's Hainan reports H1 foreign trade growth of 46.1 pct

July 21, 2021


Abstract : China's southern island province of Hainan saw its foreign trade surge 46.1 percent year on year to reach 58.5 billion yuan (about 9 billion U.S. dollars) in the first half of this year, local authorities said Tuesday.

Customers visit a duty-free shop in Haikou, south China's Hainan Province, Jan. 31, 2021. (Xinhua/Guo Cheng)

HAIKOU, July 20 (Xinhua) -- China's southern island province of Hainan saw its foreign trade surge 46.1 percent year on year to reach 58.5 billion yuan (about 9 billion U.S. dollars) in the first half of this year, local authorities said Tuesday.

Imports soared 69.5 percent to 44.4 billion yuan while exports edged up 1.9 percent to 14.1 billion yuan, according to Wang Yu, deputy head of the Hainan provincial bureau of statistics.

Over the period, Hainan used 950 million U.S. dollars of foreign investment, up 623.6 percent year on year. The province also saw its service trade volume grow 81.2 percent to 13.7 billion yuan in the period.

China released a master plan last June to build Hainan into a globally influential and high-level free trade port by the middle of the century. The island province has so far implemented a slew of preferential policies such as visa-free entry and offshore duty-free shopping to boost trade.

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