Shanghai customs: Jan–Aug goods trade totaled 3.44 tln yuan, up 17.1% YoY.
August trade rose 13.1% YoY; exports +16.1% YoY, imports +10.5% YoY. Jan–Aug
trade with ASEAN was 546.2 bln yuan, +30.6% YoY; ASEAN has been Shanghai’s
largest trading partner since May; trade with Vietnam +78.3%, with Singapore
+31.4%. Trade with South Korea +64.3% YoY; exports to South Korea rose 1.3-fold.
August imports from Africa +21.8% YoY, with zero-tariff policy benefits
continuing. Exports to the US +13.2% YoY and have expanded since April. Combined
trade in five AI-related categories — integrated circuits, servers, memory, hard
drives and semiconductor manufacturing equipment — rose 90.7% YoY and accounted
for 24.9% of Shanghai’s trade. Exports of the “New Three” products rose 78.2%
YoY.
