In the first half of this year, China’s foreign trade surged to a record high, increasing 6.1 percent year-on-year to reach 21.17 trillion yuan, equivalent to approximately 2.97 trillion U.S. dollars. Leading this growth is Shenzhen, where foreign trade volume soared to 2.2 trillion yuan, or about 300 billion U.S. dollars, marking a substantial 31.7 percent increase from the previous year.
In southern China’s Guangdong Province, the buzz is palpable as workers at Narwal Robotics in Shenzhen race to fulfill a new wave of orders for robotic vacuum cleaners destined for South Korea. These products are scheduled for dispatch next Tuesday and are expected to arrive in local stores within ten days.
Since 2019, Narwal Robotics has made significant inroads into international markets, with its robotic vacuum cleaners now in over two million homes globally.
Zhang Junbin, CEO of Narwal Robotics, shared, “By the end of June, our overseas revenue had surged nearly sevenfold compared to last year. We have successfully established a presence in North America, Europe, Japan, South Korea, Australia, Southeast Asia, and other regions.”
CGTN Reporter Xu Hua inquired about the company’s unexpected robust growth in 2023, to which Zhang responded, “Our success stems from our emphasis on blending technological research and development with local market needs. We conduct thorough preliminary research to prioritize user preferences in each region.”
Mechanical and electrical products have become some of Shenzhen’s fastest-growing exports, with imports also showing significant increases. Xu Hang, General Manager of Shenzhen Oheng Import and Export, noted a 20 percent rise in avocado and tangerine imports, a boost attributed to the China-Peru free trade agreement enacted in 2010.
Chen Jingxia, Deputy Section Chief at Shenzhen Customs District, reported that in the first six months of the year, Shenzhen’s exports reached 1.4 trillion yuan, up 34.9 percent—ranking first among mainland cities. Imports hit 792.4 billion yuan, reflecting a 26.5 percent increase.
The dynamic growth of Shenzhen’s foreign trade is driven by innovative capabilities, market responsiveness, and adaptable business strategies of private enterprises. Shenzhen Customs is poised to support these businesses with favorable policies to achieve even greater heights in the latter half of the year.