Shenzhen's foreign trade posts double-digit growth in March

The southern Chinese metropolis of Shenzhen saw its foreign trade top 387.05 billion yuan (about 53.7 billion U.S. dollars) in March, up 12.3 percent year on year, customs statistics showed on Tuesday.

In March, exports rebounded significantly, reaching 218.53 billion yuan, up 8.8 percent year on year, while imports also surged 17.2 percent year on year to 168.52 billion yuan, according to Shenzhen Customs.

Shenzhen showed remarkable resilience in foreign trade despite facing increased external challenges and a high base from the previous year, said customs officers.

The city's total foreign trade volume reached 990.1 billion yuan in the first quarter, with exports amounting to 585.5 billion yuan and imports totaling 404.6 billion yuan. Despite an 8.7-percent drop in exports in the first quarter, imports grew by 7.1 percent year on year.

Private enterprises continue to be the backbone of Shenzhen's foreign trade. In March, private enterprises accounted for 69.6 percent of Shenzhen's total imports and exports, contributing 269.4 billion yuan in foreign trade, a 13.8-percent increase from the same period in the previous year. Foreign-invested enterprises also registered a 9.3-percent year-on-year growth in foreign trade, reaching 102.17 billion yuan.

Shenzhen's trade with its top 10 trading partners all saw positive growth.