The latest foreign trade data shows Chinese exports accelerating expansion for the second month according to an October 13 announcement by the General Administration Customs.

According to statistics from the customs office, China’s September foreign trade grew by 6.3 percent year-on-year, with a total value of US $345.0 bn. Exports were recorded at $186.4 bn, up 9.9 percent compared with the previous month, hitting a monthly record high. Imports, at the same time, realized a 2.4 percent growth for a combined value of USD $158.7 bn. The trade surplus for the month was US $27.7 bn.

The data also shows that over the past three quarters, China’s aggregated export and import value amount to US $2842.5 bn, 6.2 percent more than a year ago. There was US $1495.4 bn contributed by exports, and another USD $1347.1 bn of imports, with 7.4 and 4.8 percent increases respectively, compared with the same period last year. In all, China enjoyed a US $148.3 bn trade surplus in the past nine months.

In addition, China’s overall trade advanced year-on-year 5.9 percent to US $1499 bn in the first nine months, 3.7 percent more than processing trade growth. Moreover, there was US $729.8 bn export from general trade value and another US $769.2 bn import, or a 8.3 percent and 3.6 percent jump each from the same period last year.

By comparison, Chinese processing trade edged up 2.2 percent in all to US $982.9 bn, including US $630.9 bn exports and US $352.0 bn imports, seeing 3 percent and 0.9 percent increase respectively.

The total value of Sino-America trade stands out among the performances of China’s major trade partners, soaring 9.1 percent to US $355.4 bn in the first three quarters. Meanwhile the total trade value between Association of Southeast of Asian Nations (ASEAN) and China grew 8.1 percent to US $288.9 bn, As well as there were 14.2 percent and 5 percent increases in trade with Russia and Brazil, to USD 66.2 bn, and USD 65.4 bn. But the total trade value of China and Europe fell 2.7 percnt to nearly USD 411.0 bn, combined with 1.8 percent drop to USD 248.8 bn between China and Japan.

Regionally, in the first three quarters, China’s Guangdong province and Beijing city saw 6.1 percent and 6.6 percent rallies in the total foreign trade to US $715.6 bn and US $304.2 bn individually. Jiangsu province and Shanghai city edged up 1 percent and 1.1 percent to US $405.0 bn and US $327.9 bn. Additionally, Zhejiang, Shandong and Fujian province separately enjoyed 0.9%, 2.6%, and 9.1% growth to USD 232.9 bn, USD 179.0 bn, and 111.3 bn. The above mentioned seven provinces and cities accounted for 80.1 % of China’s total foreign trade value from January to September of this year.

What’s more, regions in central and western regions of China have kept a fast pace of growth in export. For example, Chongqing city shared year-on-year 50 percent export growth, Henan, Sichuan, and Jiangxi provinces expanded at 62.8%, 42.8%, and 39.1% at the same time.

The customs office also pointed out that during the first three quarters, enterprises invested in by foreigners carried out US $1399.5 bn of foreign trade, 2.2 percent up from the year earlier, but 4 percent less than China’s total foreign trade growth. Chinese private enterprises, however, grew 18.8 percent to US $878.0 bn, 12.6 percentage more than the nation’s current rate of growth. State-owned enterprises retreated 0.8 percent to see USD 565.0 bn of foreign trade.

Given the view that exported machinery and electronic products have enjoyed stable growth, textile and apparels have seen a slight increase. During the first 9 months, Chinese machinery and electronic products advanced 8.3 percent with a total value of US $854.8 bn, 0.9 percent more compared with the country’s total export growth and 57.2 percent of the aggregated value of export. Electronic equipment and products grew 0.7 percent to USD $116.1 bn, textile 0.2 percent to USD 71.1 bn, shoes 9.5 percent to USD 34.6 bn, furniture 30.1percent to USD 35.1 bn, plastic products 38.2 percent to USD 23.0 bn, suitcase 5.5 percent to USD 18.1 bn, and toys 6.4 percent to USD 8.4 bn. The combined value of these seven labor-intensive export products accounted for 20.5 percent of China’s aggregated export value.

As for imported goods, energy and resource products saw stable growth, while the prices of iron ore, copper, and aluminum plunged. From January to September, China imported 550 million tons of iron ore, a 8.4 percent year-on-year increase, with an average imported price of US $135.1 per ton, 18.6 percent fell from one year ago. Meanwhile, China imported 44.3 million tons of soybeans, a 17.7 percent increase year on year, with an average price of US $576.5 per ton, up 0.3 percent year on year, primary plastic product 17.7 million tons, adding 3.2 percent, with an average price of US $1,957.5 per ton, 5.9 percent less, steel 10.5 million tons, a 12 percent drop, at a price of USD $1,316.6 averagely, 4.8 percent retreat, unwrought copper and copper 3.6 million tons, up 32.6 percent, with a price of US $8,296.2 averagely, down 12.4 percent, and unwrought aluminum and aluminum 931,000 tons, a 39.4 percent, with an average price of USD 3.972, 20.3 down percent.

In addition, imported machinery and electronic products picked up 2.7 percent to USD $575.3 bn, which includes 899,000 units of vehicles, or a 23.7 percent increase year on year.