Quanzhou's trade with Taiwan grows rapidly

In the first five months of this year, the total value of imports and exports between Taiwan and Quanzhou, a city in East China's Fujian province, generated 5.05 billion yuan ($721.66 million), an increase of 78.9 percent, accounting for 8.2 percent of the city's total.

During the period, the city's exports to Taiwan totaled 1.98 billion yuan, a year-on-year increase of 23.2 percent, while imports from Taiwan amounted to 3.07 billion yuan, a year-on-year increase of 153.1 percent.

Regarding the use of investment from Taiwan, 43 Taiwan-funded projects were newly approved in the first half of the year, with a total investment of $1.09 billion, which was 12.2 times that of the same period last year.

Meanwhile, Quanzhou's actual use of Taiwan capital amounted to $57.06 million, which was 10.9 times that of the same period last year.

In the first half of this year, Quanzhou's import and export value totaled 80.44 billion yuan, of which exports amounted to 57.87 billion yuan and imports amounted to 22.58 billion yuan.

The city's import and export value rose 0.7 percent year on year to 19.24 billion yuan in June alone, with 14.36 billion yuan of exports and 4.77 billion yuan of imports.

This is the first time that the city has achieved positive growth in the total value of exports and imports in a single month after the outbreak of the COVID-19 epidemic.