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Hebei reports international trade boom

Hebei imports and exports in the first three quarters of 2010 totaled $30.53 billion, up 42.1% year-on-year, marking a steady recovery from the global economic crisis, a spokesman for Customs of Shijiazhuang, the capital of the province, said.

Trade between Hebei and European Union is $6.13 billion, a rise of 53.2% compared with the previous year. Australia became Hebei’s second-largest trader, and Brazil became Hebei’s third-largest trader because of an increase of trade in iron ore and soybeans. Trade with the United States increased to $2.98 billion, with exports accounting for a dominant 70 percent.

Shijiazhuang Customs officials said that the total volume of international trade in Hebei broke the $30 billion mark for the first time in 2008, but the total for 2009 dropped to $29.6 billion due to the impact of the global economic crisis.

Officials warned that there are also some uncertainties such as canceling export tax rebates for iron, the appreciation of the RMB and price instability in the international market.

By Guo Changdong and Zhao Wenxiao

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