China's Hainan sees robust foreign trade in first three quarters

This photo taken on April 13, 2024 shows a view outside the venue of the fourth China International Consumer Products Expo in Haikou, capital city of south China's Hainan Province, April 13, 2024. (Xinhua/Li Mengjiao)

HAIKOU, Oct. 16 (Xinhua) -- China's Hainan Province posted imports and exports of goods totalling 205.95 billion yuan (about 28.93 billion U.S. dollars) in the first three quarters of this year, a record high in the same period and up 20.2 percent year on year, customs statistics showed Wednesday.

It is the first time that the province's trade in goods has exceeded the 200 billion yuan mark in the same period, according to information revealed at a press conference held by the Haikou Customs.

The province's trade in goods with Belt and Road partner countries reached 117.25 billion yuan in the first three quarters, up 43.9 percent year on year and accounting for 56.9 percent of the province's total. Meanwhile, Hainan's goods trade with ASEAN countries surged 70 percent year on year.

The export of the province's industrial finished products grew rapidly during the period, accounting for over 70 percent of the total export value, becoming a strong factor in driving the overall growth of its foreign trade, said Haikou Customs.

Notably, with the construction of the Hainan Free Trade Port, the number of newly registered foreign trade companies in Hainan has exceeded 70,000 since June 2020, bringing significant increment to the development of the province's foreign trade.

During the first three quarters of this year, the general trade with longer industrial chains and higher added value accounted for more than 70 percent of Hainan's total foreign trade, according to the customs.