Shanghai Free Trade Zone led the country in export growth in the second quarter despite weak demand, volatile financial market, geopolitical risks, and a rising tide of protectionism, the General Administration of Customs said on Wednesday.

However, the administration is not optimistic about foreign trade in the second half of 2016. It said China’s exports grossed 6.4 trillion yuan (US$957 billion) in the first half, down 2.1 percent from a year earlier and imports declined 4.7 percent to 4.73 trillion yuan.

Compared with the first quarter, export in the second quarter is rising and the fall in import is narrowing. Foreign trade is stabilizing thanks to new trade policies, such as more loans for competitive companies and improvement of foreign trade structure.

Shanghai FTZ has made great effort to facilitate trade and lower operation costs of companies. As a result, more trade companies opened in the FTZ, reversing the decline of imports and exports, customs officials said.

Source: Shanghai FTZ Government.cn