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GUANGZHOU, Jan. 14 -- Guangdong, a booming province in south China, recorded 527 billion U.S. dollars in foreign trade last year, up 23 percent on 2005, according to local customs sources.

Guangdong trade volume accounted for 30 percent of China's total of 1.76 trillion U.S. dollars in 2006, making it the leader in foreign trade nationwide, followed by Shanghai and eastern Jiangsu province.

The province's exports grew 27 percent to 302 billion U.S. dollars, and its imports surged 19 percent to 225 billion U.S dollars, said the Guangzhou Customs Office.

The foreign trade of foreign-funded firms climbed 24 percent year-on-year to 345 billion U.S. dollars, accounting for 65 percent of Guangdong's total.

Its trade volume with Hong Kong reached 113 billion U.S. dollars, up 233 percent from 1997 when Hong Kong returned to China.

 Analysts attributed the surge in trade volume to the mainland's Closer Economic Partnership Arrangement (CEPA) with Hong Kong and other trade liberalization policies.

 

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