China's Shenzhen surpasses Shanghai to become top city in first half of the year with total imports and exports of 2.2 trillion yen - Chinese media

In the first four months of this year, the total value of imports and exports in Shenzhen, China, surpassed Shanghai to become number one. Shenzhen's dominance has continued since then, with the city's total value of imports and exports in the first half of the year increasing 31.7% year-on-year to 2.2 trillion.
According to the "China GDP 1 trillion-former city economic development report (first half of 2024)" published on the 21st by the Chinese media "Xin Beijing News"'s "Shell Finance", Shenzhen's
The city's exports in the first half of the year increased 34.9% to 1.4 trillion former (about 28 trillion yen), while imports increased 26.5% to 800 billion former (about 16 trillion yen).
During the same period, the production of electronic information industry showed a recovery trend, and the export volume in Shenzhen increased rapidly.
Exports of new products also increased, with electric vehicles (EVs) increasing 51.7% to 12.
In the second quarter, sales of products related to solar power generation increased 81.6% to 2.48 billion former (approximately 50.4 billion yen), while sales of products related to solar power generation increased 81.6% to 2.48 billion former (approximately 50.4 billion yen).
The report said the growth of private enterprises in Shenzhen was a major driver of the increase in exports.
From January to May this year, exports by private enterprises in the city increased 56.5% year-on-year to 839.803 billion yen (about 17 trillion yen), accounting for 72.4% of total exports.