Guangdong trade tops 9.8 trillion yuan in first 10 months

Guangdong province's trade volume topped 9.8 trillion yuan ($1.47 trillion) in the first 10 months of the year, up 25.7 percent year-on-year and already above last year's full-year total, Guangdong Customs said Friday. The figure accounted for 21.9 percent of China's total, up one percentage point from the same period last year.

Guangdong's trade with other APEC economies reached 6.47 trillion yuan between January and October, up 27.8 percent, while trade with countries participating in the Belt and Road Initiative hit 3.59 trillion yuan, up 19.6 percent.

Private sector trade reached 6.66 trillion yuan, up 34.3 percent, outpacing overall growth by 8.6 percentage points. Private companies accounted for 68 percent of the province's trade, up 4.4 percentage points.

In October alone, trade hit 1.08 trillion yuan, up 37.3 percent year-on-year and 12.8 percentage points faster than the January–September growth rate. Monthly trade first crossed 1 trillion yuan in June and has stayed above that level for five straight months, the statement said.