DURING the first four months of 2023, China's ports experienced a notable increase in trade, leading to a 4.8 per cent year-on-year growth in container throughput, reports Xinhua.
The Ministry of Transport stated that the country's ports handled 95.43 million TEU of containers in this period.
Total cargo throughput at China's ports reached 5.28 billion tonnes during the same period, marking a 7.6 per cent increase compared to the corresponding period in 2022. Cargo throughput related to foreign trade witnessed an 8.1 per cent year-on-year growth.
The data revealed that in April alone, cargo throughput at China's ports surged 11.8 per cent compared to the previous year, with container throughput increasing 8.6 per cent.
Furthermore, trade between China and the 14 other members of the Regional Comprehensive Economic Partnership (RCEP) grew 7.3 per cent year on year, reaching US$580.16 billion in the first four months of 2023.
North China's Tianjin Port emerged as a prominent port, experiencing robust growth during the first four months of 2023.
As reported by Xinhua, the port's foreign trade increased 16.9 per cent year on year, amounting to $93.1 billion from January 1 to April 30.
This growth rate positioned Tianjin Port as the top-ranked port among China's top 10 ports, according to customs authorities.
Trade passing through Tianjin Port with members of the Association of Southeast Asian Nations (ASEAN) increased 50.3 per cent year on year.
Additionally trade with countries along the Belt and Road and RCEP members rose 36.7 per cent and 21.3 per cent, respectively.
Tianjin Port witnessed growth in exports of electric passenger vehicles and lithium batteries, with a respective increase of 126.7 per cent and 142.3 per cent.
The port also experienced higher imports of airplanes, soybeans, and frozen goods during this period.
China's import and export trade with other RCEP members expanded 7.5 per cent year on year.
With the Philippines beginning to implement its RCEP commitments on June 2, it is expected that China's external trade will continue to grow, particularly as both China and its trading partners gradually recover from the impact of the pandemic.
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