Foreign trade of China's Inner Mongolia up 19.8 pct in Jan.-July

HOHHOT, Aug. 29 (Xinhua) -- The total value of Inner Mongolia Autonomous Region's foreign trade in the first seven months of 2022 reached nearly 81.3 billion yuan (about 11.8 billion U.S. dollars), up 19.8 percent year on year, the regional commerce department said Monday.

The northern region's imports from January to July increased 10.9 percent year on year to 46.6 billion yuan, while its exports totaled 34.6 billion yuan, up 34.4 percent year on year.

During the period, the region's exports of mechanical and electrical products, and high-tech products grew rapidly, with an increase of 78.4 percent and 80.1 percent, respectively.

The import and export volume of private enterprises reached 54.8 billion yuan, up 26.7 percent year on year, accounting for 67.4 percent of the region's total foreign trade. Figure of foreign-invested enterprises reached nearly 6.5 billion yuan, up 46.1 percent year on year.

The import and export between Inner Mongolia and its major trading partners kept growing during the period. Trade between Inner Mongolia and Mongolia reached nearly 21.5 billion yuan, up by 24.1 percent year on year. Figures between the region and Russia, countries along the Belt and Road, as well as other members of the Regional Comprehensive Economic Partnership (RCEP) soared, seeing an increase of 5.5 percent, 23.3 percent and 11.2 percent year on year, respectively.