Beijing reports record foreign trade volume last year

Beijing's total imports and exports were up 40.8 percent to a record 271.7 billion U.S. dollars in 2008 mainly thanks to the Olympic Games, Beijing Customs said Friday.

Exports hit 57.4 billion U.S. dollars, up 17.4 percent, and imports 214.3 billion U.S. dollars, up 48.7 percent, making the city China's 4th largest international trade region after Guangdong, Jiangsu and Shanghai.

Beijing Customs attributed the growth to the Olympic Games, which boosted demand and government procurement, particularly in urban infrastructure, venue construction, materials, machines and equipment.

The Olympic effect brought about a year-on-year increase of 55.8 percent in imports and exports in the first half of last year.

However, foreign trade began to slow in the second half of 2008with the increase rate dropping to 28.5 percent, due to the sluggish global economy.

Source: Xinhua