Recently, the Information Office of Shandong Provincial People’s Government held a news conference to introduce the overall situation of Shandong’s foreign trade in 2021 and its imports and exports to other 14 RCEP member countries.

According to customs statistics, the imports and exports of Shandong province to the other 14 RCEP member countries in 2021 was 1.03 trillion yuan, an increase of 32.9% compared with 2020, and a growth rate of 0.5 percentage points higher than the overall growth rate of Shandong’s foreign trade. At the same time, this figure accounted for 35.2% of the total value of the province's foreign trade in 2021, 0.1 percentage points higher than that in 2020. Separately, exports in this category reached 60.53 billion yuan, up 28.2% and imports totaled 431.36 billion yuan, up 40%.

The main characteristics of Shandong’s imports and exports to other RCEP member countries in 2021 can be summarized into four aspects. Both imports and exports of Shandong to major trading partners have maintained growth; Imports and exports of private enterprises account for nearly 70%, accompanied by the increasing export vitality; Mechanical and electrical products and labor-intensive products are the main export commodities, while the export of cultural products is growing rapidly; Mechanical and electrical products are the most imported goods, and imports of crude oil and iron ore grow rapidly.