During the three-month period, Shanghai imported 328,000 tons of crude oil, 1.5 times more than the figure for the same period in 2001 at prices 55 percent higher year-on-year, according to statistics by the local customs.

Imports of oil products and phthalic acid rose 40 percent and 23.3 percent year-on-year, to 617,000 tons and 252,000 tons, respectively, and prices rose by 40 percent and 67 percent year-on-year, respectively,.

Imports of plastics, synthetic fibres and natural rubber also showed significant increases in both volume and prices.

In general, local imports reached US$8.05 billion for the period from January to March in 2003, a year-on-year increase of 52.3 percent. The increased volume boosted customs revenue by 64.5 percent year-on-year to 17.6 billion dollars for the first three months of 2003.

Equipment and facilities imported by overseas-financed businesses in China rose 50.6 percent year-on-year to US$1.57 billion in the first quarter of the year, with import volume in March hitting a record 67.7 percent growth to 630 million dollars.

(Xinhua News Agency April 9, 2003)