Beijing's imports of integrated circuit (chip) products increased by 29.7% year-on-year in the first half of the year

According to a report from Chinanews.com in Beijing, from January to July this year, Beijing's imports and exports totaled 1,685.39 billion yuan, up 26.9% year-on-year. Among them, exports totaled 349.92 billion yuan and imports totaled 1,335.47 billion yuan, with imports and exports increasing by 26.9% and 23.2% year-on-year respectively.

According to reports, this year, Beijing's foreign trade rebounded higher than expected, with both import and export volumes reaching the highest level in the same period in history, and the monthly growth rate has surpassed the national monthly growth rate for five consecutive months. Among them, the scale of exports exceeded a quarter of the same period in 2019, and imports returned to the same level in 2019, and the growth rate continued to surpass the national level by 3.5 percentage points (Beijing's imports grew by 27.9%).

In July, imports and exports totaled 260.06 billion yuan, up 31.4% year-on-year. Among them, exports totaled 56.67 billion yuan, up 57.9% year-on-year, 2.4 times the national growth rate; the import structure continued to optimize, with year-on-year growth exceeding the national average by 1.2 percentage points. Imports totaled 203.39 billion yuan, up 25.6% year-on-year.

In addition, Beijing's imports of high-tech electromechanical products grew rapidly. In the first half of the year, Beijing imported 261.9 billion yuan of electromechanical products, a year-on-year increase of 39.2%. Imports of high-tech products amounted to 107.75 billion yuan, a year-on-year increase of 22.9%. Among them, imports of measurement, testing, analysis and automatic control instruments and integrated circuits (chips) increased by 6.7% and 29.7% year-on-year respectively, laying the foundation for the export of electromechanical products and high-precision equipment.