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China's Xinjiang sees foreign trade value up 48.4 pct in first half of 2024

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      China

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      China's Xinjiang sees foreign trade value up 48.4 pct in first half of 2024

      2024-07-18 18:36 Last Updated At:19:07

      The total import and export value of goods in northwest China's Xinjiang Uygur Autonomous Region grew by 48.4 percent year on year, reaching 200 billion yuan (about 27.56 billion U.S. dollars) in the first half of 2024.

      This robust growth is attributed to the high-level opening up of Xinjiang, which has advanced connectivity between China and other countries, the prominent role played by the grand channels to the west, and optimized foreign trade methods.

      In the first half of the year, Xinjiang traded with 205 countries and regions. Kazakhstan and Kyrgyzstan topped the list of trade partners, with growth rates of 45.8 percent and 8.7 percent, respectively.

      Data shows that the volume of imports and exports through Xinjiang's ports reached 39.338 million tons, marking an 11.9 percent increase. According to railway authorities, 4,691 China-Europe Railway Express trains and 3,055 China-Asia Railway Express trains passed through the Alashankou and Khorgos ports, reflecting year-on-year growth rates of 10.1 percent and 5.3 percent, respectively.

      Additionally, the import and export volumes by road, water, rail, and air transport in Xinjiang increased by 14.8 percent, 257.2 percent, 62.4 percent, and 18 percent, respectively.

      The pilot free trade zones and comprehensive bonded zones have become important engines driving Xinjiang's foreign trade.

      In the first half of the year, Xinjiang's free trade zones (FTZs) had a combined import and export value of 72.82 billion yuan (about 10.03 billion U.S. dollars), accounting for 33 percent of the total value of Xinjiang's foreign trade.

      During the same period, the total import and export value of the four bonded zones in Kashgar, Khorgos, Alashankou, and Urumqi reached 95.39 billion yuan (about 13.14 billion U.S. dollars), up by 58.1 percent, accounting for 43.2 percent of the region's trade.

      Cross-border small-volume trade, general trade, bonded logistics, and other trade modes have become more balanced, further optimizing the foreign trade structure.

      China's Xinjiang sees foreign trade value up 48.4 pct in first half of 2024

      China's Xinjiang sees foreign trade value up 48.4 pct in first half of 2024

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      Festive consumption heats up in China as Spring Festival approaches

      2025-01-21 20:59 Last Updated At:21:47

      As the Spring Festival holiday approaches, rural fairs and popular markets in China are seeing a surge in activity as vendors prepare to meet the increased demand for goods and services during the eight-day celebration.

      The Spring Festival, which marks the start of the Chinese Lunar New Year, is the biggest annual holiday in China, when people across the country return to their hometowns for Lunar New Year celebrations and family reunions. This year, it falls on Jan 29, ushering in the Year of the Snake.

      In Zaozhuang City of east China's Shandong Province, the rural market is already filled with a strong festive atmosphere. People are busy buying couplets and other goods for the Spring Festival, with stalls displaying a dazzling array of products and vendors' shouts filling the air.

      The market, which has a history of over 100 years and is held on the forth and ninth days in China's lunar months, has attracted residents from nearby to join in the lively celebrations.

      In Luoyuan County of Fuzhou City in east China's Fujian Province, the locally produced yellow croakers are in high demand. Fisherman said 20 million yellow croakers have been freshly harvested and are now available for purchase.

      "The fish were put into the lake in spring of 2023 and have now grown to an average weight of about 8 liang (about 0.4 kilograms) each," said Huang Jianfeng, a local fish farmer.

      Meanwhile, gold sales continued to boom despite the soaring price, about 634 yuan (over 86 U.S. dollars) per gram as of Monday, as many Chinese consumers buy gold products before the Spring Festival for good luck, or for investment.

      Staff at a gold store in Shenzhen of south China's Guangdong Province said that this year is a lot busier than before.

      "There has been a great increase in the number of customers and sales this year. At the beginning of last year, we could still cope with the guests. But we feel that we are obviously too busy this year," said Cai Yihan, staff member of a gold store in Shuibei, Shenzhen's renowned gold and jewelry district.

      The demand for fresh flowers has also reached its annual high in southwest China's Yunnan Province.

      In its provincial capital Kunming's Dounan Flower Market, which accounts for 70 percent of China's national fresh-cut flower trade, its sales peak is expected to last for about three weeks.

      This year, new varieties like tulips are gaining popularity and are likely to become the most sold in China, according to the Van den Berg Roses Planting Base in Kunming, a rose grower brand from the Netherlands.

      In addition, due to reduced exports from the Netherlands, the main source of tulip imports, China's domestic tulip prices have risen by one fourth compared to last year.

      The increased market demand has led to a significant boost in income for local flower farmers.

      "The strong market demand has led to a 5 percent increase in income for local farmers compared to previous years," said Guo Xinggang, production manager of the Van den Berg Roses Planting Base.

      Festive consumption heats up in China as Spring Festival approaches

      Festive consumption heats up in China as Spring Festival approaches

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