Shenzhen's foreign trade increased from 2.95 trillion yuan (US$415 billion) in 2012 to 3.54 trillion yuan in 2021, with its exports taking the lead among mainland cities for 29 consecutive years, data from Shenzhen Customs showed.
Recently, at the G11 production area of TCL China Star Optoelectronics Technology (TCL CSOT) in Guangming District, the country’s leading display panel maker, 8K panels were manufactured and ready for export overseas. The company, established in 2009, focuses on advanced display technologies with four manufacturing centers in Shenzhen, Wuhan, Huizhou and India.
In 2021, the company’s foreign trade totaled nearly 38 billion yuan, over 10 times its trade figure a decade ago.
For the past 10 years, Shenzhen private enterprises’ foreign trade increased from 1.03 trillion yuan in 2012 to 2.16 trillion yuan in 2021, up by 110%.
At Qianhai Comprehensive Bonded Area, Shenzhen Customs introduced the Multi-Country Consolidation (MCC) method, a cost-effective solution that consolidates cargo from different countries of origin to build full container loads.
Under this new logistics method, enterprises can source commodities globally by utilizing the 160 container routes in the city’s western port, transport the commodities for transshipment to Qianhai Comprehensive Bonded Area for assorting and dispatching in full container loads. Meanwhile, export products from domestic enterprises can also be assorted with transshipment commodities in full container loads. The MCC method, Sino-European trains and air express stimulated the growth of cross-border e-commerce.
Between January and August, Qianhai Comprehensive Bonded Area’s foreign trade increased by 41.8% year on year to 135 billion yuan. Four enterprises in the bonded area saw their foreign trade exceed over 10 billion yuan. The number of enterprises with an annual trade volume of more than 1 billion yuan reached 16.
The city’s cooperation in industrial and supply chains with countries under the Belt and Road Initiative was further enhanced. The throughput of the Guangdong-Hong Kong-Macao Greater Bay Area (GBA) Sino-European trains from Shenzhen to European and Asian countries reached 141,000 metric tons since the first train was put into operation Aug. 18, 2020.