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CHINA> Regional

S China province sees drastic surge in Q1 ship exports

(Xinhua)
Updated: 2009-05-03 14:14

GUANGZHOU -- Guangdong Province, an economic power house in southern China, sold abroad 42,000 vessels in the first quarter of this year, a growth of 230 percent on the same period of last year, local customs house said Sunday.

The exports were valued at US$410 million, up 7.2 percent.

Of the total export value, 49.1 percent, or US$200 million, were recorded by foreign-funded companies, up 14.2 percent, and 39.4 percent, or 160 million dollars, by state-owned enterprises, down 8.8 percent.

Private businesses posted a growth of as fast as 65 percent in ship exports in the three-month period, the local customs noted.

Most of the province's ship exports went to Hong Kong and Association of Southeast Asian Nations (ASEAN) members. Sales to the European Union declined 50.5 percent to US$35.57 million.