Guangdong's import volume hit US$16.5 billion in August, up 19 per cent from the same month last year.

The figure was a record high for a single month in the province's import history.

Spurred by strong import growth last month, the province reached a total foreign trade volume of US$37.16 billion in August, up 19.4 per cent and representing 29.6 per cent of the country's total.

Guangdong's export volume in August came to US$20.64 billion.

Good trade performance in the previous month helped Guangdong, the country's biggest foreign trader, realize an import and export volume of US$260.37 billion in the first eight months, a year-on-year increase of 18 per cent, according to statistics released by Guangdong Customs yesterday.

Guangdong's foreign trade volume represented 29.2 per cent of the country's total in the first eight months. The province sold US$143.24 billion worth of products abroad, up year-on-year 23.6 per cent, while it purchased offshore commodities valued at US$117.13 billion, up year-on-year 11.7 per cent.

The province recorded a foreign trade surplus of US$26.11 billion from January to August, accounting for 43.4 per cent of China's total.

Wu Sihai, an official from Guangdong Customs, said the import volume of Guangdong would continue to enjoy sustainable growth in the remaining months of this year.

"The province which lacks energy and raw materials relies on trade to support its economic growth," Wu told China Daily.

Wu attributed Guangdong's good trade performance in previous months to the growth of trade between the province and Africa.

Guangdong's exports to Africa increased a massive 53.9 per cent year-on-year to stand at US$2.32 billion in the eight months ending August.

Wu urged local foreign trade companies and manufacturers to continue their efforts to explore African and Middle East markets in the following months.

But Hong Kong, the United States, the European Union, Japan and ASEAN (the Association of Southeast Asian Nations) are still Guangdong's top five trade partners.

Guangdong's trade volume with Hong Kong was US$52.76 billion between January and August, up year-on-year 18.6 per cent and accounting for 20.3 per cent of the province's total.

Guangdong's export volume from general trade reached US$33.09 billion in the first eight months, a year-on-year growth of 41.6 per cent and accounting for 23.1 per cent of the province's total exports.

Foreign-funded companies and joint ventures played an increasingly important role in Guangdong's foreign trade industry this year.

The export and import volume from foreign-funded and joint ventures reached US$166.17 billion in the first eight months, up 20.3 per cent year-on-year, representing 63.8 per cent of the province's total.

Exports from private companies increased even faster at 43.2 per cent to hit US$31.3 billion in the first eight months.

Electronic products, machinery, high-techs and textiles and garments were the major foreign currency earners for Guangdong in the first eight months. Imports have mainly been electronic products, new and high-tech commodities, energy and raw materials.

(China Daily September 15, 2005)