Danzhou's foreign trade volume grows 36% to $6.17 billion

By Li Xiang / HICN / Updated: 10:28,10-August-2022

According to local authorities, the foreign trade volume of Danzhou, a prefecture-level city in the northwest part of the Hainan Free Trade Port, topped $6.17 billion in the first half of this year, up 35.9% year-on-year. The foreign trade surplus amounted to $129 million, an increase of 59.3% compared to the same period last year.

The Yangpu Economic Development Zone in Danzhou, a pilot and demonstration zone for free trade in Hainan, has taken the lead in implementing a number of preferential policies. HINEWS / LIU YANG

Trade of goods in Danzhou maintained a rapid growth of 47.2% year-on-year with a total revenue and expenditure of $5.32 billion, contributing 86.1% of the total foreign trade volume in the first half of this year. A particular notable increase was the volume of offshore resale trade, which amounted to 74.8% year-on-year. Meanwhile, driven by substantial growth in the revenue of shipping services, ship rentals, oil & gas storage fees, and other leasing services, the total volume of foreign service trade in Danzhou reached $236 million in the first half of the year, an increase of 61.6% year-on-year.

The People's Bank of China (Danzhou City Center Branch), a pilot bank with high-level open policies for cross-border trade and investment, together with other pilot banks in the city registered a total trade volume of $3.95 billion, accounting for 64% of the total foreign trade during this period.

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