In 2021, Shenzhen's import and export of goods reached a record high of RMB 3.54 trillion, with a year-on-year growth of 16.2%, foreign trade statistics released by Shenzhen Customs showed on January 19. Last year, exports rose 13.5% to RMB 1.92 trillion, ranking first among foreign trade cities in Chinese mainland for the 29th consecutive year; imports rose 19.5% to RMB 1.62 trillion.
These remarkable results are driven by the determination to boost the construction of an open world economy. On January 17, President Xi Jinping attended the 2022 World Economic Forum Virtual Session in Beijing and stressed that despite the countercurrents and dangerous shoals along the way, economic globalization has never and will not veer off course. Countries around the world should uphold true multilateralism, to remove barriers and not erect walls, open up and not close off, seek integration and not decoupling. This is the way to build an open world economy.
A closer look at these results reveals that in 2021, Shenzhen's foreign trade import and export have shown numerous outstanding achievements. In its active response to the complex and ever-changing international environment and the impact of the once-in-a-century pandemic, Shenzhen has fully implemented the new concept of development, intensively advanced reform and opening up, and built a new development paradigm with domestic circulation as the mainstay and domestic and international circulations reinforcing each other. Shenzhen has achieved high-quality economic and social development, with the foreign trade exports in particular full of growth momentum, unleashing the potential over a long time, and securing the first place for 29 consecutive years.
Expand the Foreign Trade Network
Shenzhen has intensified the effort to advance high-level opening up, actively implemented the national "Belt and Road" initiative, and continuously expanded the foreign trade network, increased the scale of import and export in multiple fields to a new level.
In 2021, Shenzhen's imports from and exports to RCEP trading partners, "Belt and Road" countries and regions, and countries in Central and Eastern Europe hit RMB 935.49 billion, RMB 775.55 billion and RMB 62.27 billion respectively, which were all record highs, breaking through the RMB 900 billion, RMB 700 billion and RMB 60 billion mark respectively, with growth of 13.6%, 15.1% and 21.9%. The total volume has increased Shenzhen's overall import and export by 5.1%.
Meanwhile, Shenzhen's imports and exports accounted for 44.9% of the nine cities in the Guangdong-Hong Kong-Macao Greater Bay Area, contributing 43.8% to the overall import and export growth of the nine cities. Shenzhen enterprises have also seized the carbon peak and neutrality policy opportunities to accelerate the upstream and downstream deployment of clean energy products, increasing exports of clean energy-related equipment and products by nearly 50%.
General Trade is the Mainstream
From the PMACT (i.e. processing with supplied materials, manufacturing with supplied drawings and samples, assembling with supplied parts and compensation trade) and OEM production in the past, to independent innovation and self-established brands, Shenzhen enterprises have already occupied the global market with their own brands.
This also brought a radical change in the structure of Shenzhen's foreign trade: The market was dominated by the processing trade solely in the past, but is now by the general trade, with other forms of trade thriving vigorously in the marketplace.
The import and export of Shenzhen's general trade, which has a longer industrial chain, higher added value and can better reflect the enterprise independent development ability, reached RMB 1.75 trillion in 2021, up 16.9%, accounting for 49.4% of Shenzhen's total value of imports and exports in the same period ( the same below); the import and export of processing trade were RMB 945.95 billion, up 14.7%, accounting for 26.7%; and the import and export of bonded logistics were RMB 817.96 billion, up 17.9%, accounting for 23.1%.
Private Enterprises Value Surpassed 60% for the First Time
Huawei, Skyworth, Mindray, Han's Laser, DJI...... all are well-known private enterprises rooted in Shenzhen. As the spearhead, they have navigated through the darkness of the global pandemic and expanded the international market with resilience, sending quality products from Shenzhen to all over the world.
This is why private enterprises in Shenzhen are considered as the bellwether of foreign trade, accounting for over 60% of the city's foreign trade for the first time. According to customs statistics, import and export of private enterprises in Shenzhen reached RMB 2.16 trillion in 2021, representing an increase of 19% and marking the annual proportion exceeding 60% for the first time to 60.8%, which was up 1.4% than the previous year; the trade of foreign-funded enterprises reached RMB 1.18 trillion, up 11.8%, accounting for 33.1% of the total trade; and state-owned enterprises imported and exported goods of RMB 208.8 billion, up 14.5%.
Consumer Electronics have been Popular
Shenzhen's export product structure has been further optimized, with significant growth in exports of consumer electronics and electrical products. In 2021, Shenzhen exports of mechanical and electrical products amounted to RMB 1.54 trillion, with an increase of 18.8%, accounting for 80.2% of the total value of Shenzhen's exports during the same period, a year-on-year increase of 3.6%. Among them, exports of computers and other automatic data processing devices and their spare parts, cell phones, audio and video equipment and their parts, as well as household appliances increased by 21.9% to RMB 510.49 billion and continued to grow, increasing the overall exports by 5.4%.
During the same period, the import of mechanical and electrical products in Shenzhen increased significantly. Statistics showed that the imports of mechanical and electrical products in Shenzhen reached RMB 1.29 trillion in 2021, up by 15.3% and took up 79.6% of the total imports; imports were mainly integrated circuits, parts of automatic data processing devices, cell phone parts, etc.
（Shenzhen Special Zone Daily）