International Trade Center Initiative
Trade volume is growing with optimized trade structure
In 2014, import and export of Shanghai port, Shanghai Customs, and of local cargo totaled 1.14 trillion, 863.45 billion and 466.62 billion yuan, 6.3 percent, 6.3 percent and 5.7 percent higher than 2013 respectively. Trade volume of Shanghai port accounted for 27 percent of China and 3 percent globally, overtaking major international trade centers such as Hong Kong and Singapore.
Among import and export, the percentage of value-added normal trading increased from 45.7 percent in the previous year to 47.2 percent. Progress has been made in penetrating emerging markets and export to “Belt and Road” countries grew at 7.3 percent. Import was growing faster than export. Import of consumer goods took up 29.4 percent of China so that the city has been the largest portal for imported consumer goods.
The total value of trade in service in 2014 was $175.39 billion, 9.7 percent higher and accounting for 30 percent of China or 2 percent globally. Offshore serive outsourcing totaled $5.99 billion, up 36.9 percent. Trade in services has taken up 27.3 percent of the total foreign trade.
Mass market and supply chain have been established and retail volume, consumer goods sales, and e-commerce transactions totaled 7.41 trillion, 871.87 billion and 1.35 billion yuan, up 11.4 percent, 8.7 percent and 28.3 percent respectively. The transaction volume ranks No.1 among major Chinese cities.
Trade has made growing contributions to social and economic developments. The added value of retail and wholesale in 2014 totaled 413.86 billion yuan, generating tax revenue of 237.79 billion yuan, accounting for 17.6 percent and 19.7 percent of the city respectively. Employees in the retail and wholesale business exceeded 4.5 million, thus making it one of the biggest contributors to the city’s economy, tax and employment.
Trades are concentrating and market competitiveness is enhanced
Up to the end of 2014, 40,665 companies did import and export business with 52 companies exceeding $1 billion per year. Retail and wholesale companies exceeded 140,000 and 83 of them exceeded 10 billion yuan in terms sales revenue per year.
Capabilities to leverage domestic and international market and resources have been improved. Contracted foreign capital exceeded $30 billion to $31.61 billion for the first time, 26.8 percent higher than the previous year. Paid-in foreign capital totaled $18.17 billion, up 8.3 percent. Outbound investment reached $12.3 billion, equivalent to the combined outbound investment of previous four years.