Benefited from the favorable policies of RCEP, Xiamen's trade volume with RCEP nations showed an increasing trend. In the first quarter of this year, Xiamen achieved an import and export volume of 68.31 billion yuan from or to other RCEP member nations, a year-on-year increase of 3.5% and accounting for 33.3% of Xiamen's total foreign trade volume. Private enterprises witnessed an eye-catching growth rate of imports & exports. The trade volume of private enterprises in Xiamen with RCEP nations hit 22.41 billion yuan in the first quarter, up by 13.2%. Exports were dominated by mechanical and electrical products and labor-intensive products. In the first quarter, Xiamen exported 12.18 billion yuan of mechanical and electrical products to other RCEP member countries, an increase of 12.2%; 6.15 billion yuan of labor-intensive products, up by 10.4%.
