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Shenzhen's foreign trade exports hit a new high this year, driven by the strong momentum of China's domestic economic growth and the continued recovery of global market demand. According to Shenzhen Customs, the city achieved a record export value of $16.39 billion in May, marking a 39.2% year-on-year increase. This represents an 18.4 percentage point rise compared to April’s growth rate, making it the fourth consecutive month with a record single-month export volume. Notably, exports of high-tech products saw a significant surge, becoming a key highlight of the overall performance.
In the first five months of the year, Shenzhen's total foreign trade import and export volume reached $117.18 billion, up 26.5% from the same period last year. Exports alone totaled $67.57 billion, reflecting a 19.5% increase. The growth rate accelerated by 5.2 percentage points compared to the first four months, accounting for 11.9% of China's total exports during the same period. Imports also rose sharply, reaching $49.61 billion, an increase of 37.6%.
The recent surge in Shenzhen’s foreign trade is largely attributed to the rebound in external demand as the global economy stabilizes. In May, new orders from the U.S. increased, inventory levels dropped, and improved employment figures signaled a recovery in international market demand.
On the export front, processing trade showed strong growth in May, with a 45.1% year-on-year increase. For the first five months, processing trade exports reached $36.89 billion, up 16.5%. This growth rate was 7.2 percentage points higher than that of the previous four months, reinforcing Shenzhen’s position as a leading export hub. Meanwhile, general trade exports rose to $40.1 billion, a 36.5% increase, outperforming the overall growth rate by 10 percentage points.
Exports to the U.S. and EU markets also gained momentum. Shenzhen exported $10.56 billion to the U.S. and $9.66 billion to the EU in the first five months, rising by 11.2% and 24.3%, respectively. These figures were 6.6 and 3.1 percentage points higher than the growth rates in the previous four months. Exports to Hong Kong, a major trading partner, accounted for 37.3% of total exports, reaching $25.21 billion, up 22.7%.
Under national policies encouraging industrial optimization and restructuring, Shenzhen’s high-tech exports surged. In May, exports of high-tech and mechanical and electrical products reached $8.6 billion, up 48.1% year-on-year. Products involving electronic and computer communication technologies grew by over 40%, while photoelectric technology products saw a 1.1-fold increase. High-tech exports now account for a growing share of Shenzhen’s foreign trade, signaling a successful shift toward higher-value exports.
Mechanical and electrical products remained a major driver, with exports reaching $51.79 billion in the first five months, up 21.9%. These products made up 76.6% of Shenzhen’s total exports.
However, the ongoing European sovereign debt crisis poses risks. With the RMB pegged to the U.S. dollar, the euro has weakened significantly, causing the RMB to appreciate against the euro. This could negatively impact traditional labor-intensive exports to Europe. Although some sectors like clothing and footwear still saw modest growth, others such as luggage and plastic products faced declines of 16.5% and 14.5%, respectively. Shenzhen’s export landscape continues to evolve, balancing growth in high-tech sectors with challenges in traditional industries.
August 16, 2025