The port city of north China's Tianjin Municipality records a year-on-year growth of 44.5 percent in foreign trade to US$11.23 billion during the first five months of this year.
According to customs figures, Tianjin exported US$5.68 billion worth of goods, up 50.5 percent, while imports were valued at US$5.55 billion, up 38.8 percent.
Machinery, electronic and high-tech products are becoming important sources of foreign exchanges for Tianjin.
Tianjin exported US$3.42 billion worth of machinery and electronic products, up 36 percent, and US$2 billion worth of high-tech goods, up 40 percent, during the five months.
The processing sector with imported materials accounted for 44.8 percent of Tianjin's overall foreign trade during the five months, or US$5.03 billion.
Overseas-funded and State-owned firms dominate imports and exports in the port city.
Enterprises solely funded by overseas investors contributed US$5.03 billion to Tianjin's foreign trade in the period, an increase of 38.3 percent, while overseas joint ventures accounted for US$3.65 billion, up 46.7 percent.
Foreign trade involving state-owned firms was valued at US$1.9 billion, up 39 percent.
With foreign trade between Tianjin and Asia totaling US$6.69 billion during the five months, Asia remains its biggest trade partner.
The figures also show North America and Europe are Tianjin's second and third biggest trade partners.
(Xinhua News Agency June 17, 2003)
