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Shanghai's foreign trade hits record high in first two months

Shanghai's foreign trade hit a record high of RMB681.56 billion (USD99.12 billion) in the first two months of 2023, up slightly by 0.7% from the year-ago period, according to data from Shanghai Customs.

From January to February, Shanghai saw imports rise 4.7% YoY to RMB415.99 billion (USD60.42 billion), followed by a 4.7% YoY drop in Q4 2022, while its exports declined by 4.9% YoY to RMB265.57 billion (USD38.57 billion).