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Qingdao exports grow in H1 against global downward trend


Exports in Qingdao reached 130.26 billion yuan ($19.5 billion) in the first half of this year, a year-on-year growth of 0.2 percent, according to the local bureau of commerce.

Qingdao was the only one among China’s five municipalities with independent planning status to experience export growth in the period.

With the world economic downturn as a background, Qingdao unveiled a package of preferential policies to drive foreign trade enterprises transformation and upgrading. Meanwhile, the enterprises raised labor productivity, reduced costs and exploited their advantages to deal with the downward pressure.

This year, Qingdao has been expanding multilateral cooperation for foreign trade companies.

Data from the first half of this year show Qingdao’s share of exports to emerging markets rose to 35.4 percent from 31.1 percent for the same period last year, while exports to Belt and Road countries grew by 10.3 percent.

In addition, China's free trade agreements with South Korea and Australia, which took effect in December 2015, benefited Qingdao’s businesses, especially in tariffs. Its exports to free trade areas generally increased 0.6 percent over the same six-month period of 2015.

Cross-border e-commerce and innovative business models also gave a strong impetus to the city’s export growth.
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