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Technological cooperation of foreign trade continues to increase. In 2004, the contracted volume of foreign projects and work force cooperation amounted to US$1.425 billion, an increase of 94.4 percent than the year before.
Imports and Exports
Shenzhen played an important part in the nation's total volume of imports and exports. 2004 saw one of the biggest growths in export volume. Its total export volume was US$77.85 billion, 23. 6 percent higher, making up more than one eighth of the country's total and two fifths of Guangdong Province's total.
The import and export trade further developed. The total export and import volume reached US$147.283 billion, up 25.5 percent more than the year before. Of that, the total export volume amounted to US$77.846 billion, 23.6 percent higher, covering 13.1 percent of the country's total. The total import volume was US$69.437 billion, 27.6 percent more. The total of Shenzhen's import and export volume has been ranked top among China's major and medium cities for 12 years consecutively.
The export market was diversified. A big increase of export volume was seen in foreign trade with major regions and trade partners. Export to Hong Kong increased by 29.5 percent than the year before (covering 43.9 percent of the total export volume), to the United States by 23 percent (covering 22.1 percent of the total export volume), to the 15 EU nations by 12.4 percent (covering 11.1 percent of the total export volume). Apart from that, exports, which were with rather big growth, to Brazil, Russia and India rose by 55.6 percent, 56.1 percent, and 78.5 percent respectively. Oceangoing exports for 2004 reached US$23.669 billion, up 23.9 percent than the year before.
The structure of export products was optimized, with a rapid growth of hi-tech product export. The annual export volume of hi-tech product amounted to US$35.057 billion, 39.4 percent higher than the year before, making up 45 percent of the city's total, 5 more percentage than last year. The export volume of electric machinery hit US$59.047 billion, an increase of 28 percent, covering 75.9 percent of the total, 2.6 percentages more than last year.
Exports in common trade, foreign companies and private enterprises made up a larger portion. Among the export trade, the volume of common trade was US$10.565 billion, an increase of 32.2 percent than the year before, covering 13.6 percent of the total, 0.9 percentage more than last year; the volume of imported material processing, processing with supplied samples, assembly, and compensation trade was US$13.731 billion, 9.7 percent higher, covering 17.6 percent of the total, 2.3 percentages less than last year; the volume of imported material processing trade hit US$46.05 billion, up 23.5 percent more, making of 59.2 percent of the total, the same as last year; the volume of other trades reached US$7.5 billion, an increase of 45.3 percent, covering 9.6 percent of the total. Of all the economic exports, export volume of state owned enterprises reached US$19.735 billion, 8.7 percent higher, covering 25.4 percent of the total, 3.4 percentages less than last year. The export volume of private and collective enterprises hit US$7.132 billion, up 60.6 percent, making up 9.2 percent of the total, 2.1 percentages more than last year. The export volume of Sino-foreign joint ventures, cooperative businesses and exclusively foreign-owned enterprises was US$50.979 billion, an increase of 26.3 percent, covering 65.5 percent of the total, 1.4 percentages more than last year.
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