Guangxi sees foreign trade rebound
In the first five months of 2020, Guangxi's foreign trade value reached 176.23 billion yuan ($24.9 million), seeing a rebound with the decrease lowering by 1.1 percent than the previous four months. The region also maintained growth in trade with Hong Kong during that period.
Guangxi's largest trading partner was ASEAN in that period. According to statistics, Guangxi's imports and exports to ASEAN countries reached 85.77 billion yuan in the first five months of the year, accounting for 48.7 percent of the total foreign trade, of which trade with Vietnam continued to increase in April and May.
In addition, Guangxi's trade with Hong Kong and Australia maintained growth, with 22.68 billion yuan in imports and exports to Hong Kong, an increase of 19.1 percent, as well as 6.42 billion yuan in imports and exports to Australia, an increase of 6.8 percent.
The export of high-tech products has increased substantially and the import of agricultural products has reached 15.2 billion yuan, an increase of 9 percent.
Guangxi's border trade showed signs of recovery in May, with imports and exports reaching 10.72 billion yuan, an increase of 17.4 percent. Processing trade had the largest increase in the month, with imports and exports increasing by 36.6 percent.
Imports and exports of private enterprises increased, while that of foreign-invested enterprises ended a downward trend, with imports and exports of 31.05 billion yuan, up 1 percent.