Shanghai's import and export value reached 3 trillion yuan ($444.87 billion) in the first seven months of this year, up 17.7 percent year-on-year. In July alone, the city’s foreign trade volume reached 447.57 billion yuan, an increase of 12.6 percent year-on-year.

Exports, which exceeded 1 trillion yuan in the first half of the year, maintained a strong momentum in July, reaching 211.98 billion yuan, up 24.3 percent year-on-year.

The main drivers of export growth were AI-related products, the "new trio" — electric vehicles, lithium-ion batteries, and photovoltaic products — and high-end equipment.

The combined import and export value of AI-related products reached 92.67 billion yuan in July, up 61.9 percent year-on-year, contributing 8.9 percentage points to Shanghai's overall import and export growth.

The city is deeply integrated into the global AI industry and supply chains. It imports core components for building AI computing infrastructure, assembles them locally, and exports finished servers, power supply units, storage devices, and other equipment.

Exports of the new trio totaled 27.17 billion yuan in July, up 70.2 percent year-on-year. Electric vehicle exports rose 88.7 percent, lithium batteries grew by 20.8 percent, and PV products expanded 79.2 percent.

Exports of high-end equipment, particularly high-tech ships, reached 7.98 billion yuan in July, up 321.8 percent year-on-year.

Shanghai's shipbuilders have also been delivering increasing numbers of liquefied natural gas carriers, liquefied petroleum gas carriers, and roll-on/roll-off vessels carrying vehicles.

Source: Jiefang Daily