On September 17, data released by Shanghai Customs revealed that in the first eight months of this year, Shanghai’s total import and export volume soared to RMB 3.44 trillion, marking a year-on-year increase of 17.1%. In August, despite the disruptions caused by two typhoons, Shanghai’s foreign trade maintained its upward trajectory, with imports and exports collectively growing by 13.1%. Specifically, exports expanded by 16.1%, while imports increased by 10.5%.

During the same period, Shanghai’s trade with ASEAN reached RMB 546.2 billion, up 30.6%. ASEAN has been Shanghai’s largest trading partner for four consecutive months since May, with trade volumes with Vietnam and Singapore surging by 78.3% and 31.4%, respectively. Imports and exports with South Korea also saw robust growth, increasing by 64.3%, with exports to South Korea skyrocketing by 1.3 times. In August, Shanghai’s imports from Africa surged by 21.8%, underscoring the significant impact of the zero-tariff policy. Meanwhile, exports to the United States continued their upward trend, growing by 13.2% since April.

In terms of product categories, the first eight months witnessed remarkable growth in imports and exports of five categories of AI-related products, including integrated circuits, servers, memory, hard drives, and semiconductor manufacturing equipment. These products collectively increased by 90.7%, accounting for 24.9% of Shanghai’s total import and export value. During the same period, exports of the “new three” products—a term often used to refer to emerging high-tech products in China—also experienced significant growth, increasing by 78.2%.