The imports and exports of East China's Shanghai set a new record this year, hitting 3.86 trillion yuan ($540.4 billion) in the first 11 months – a 1.2 percent increase compared with the same period last year.

Breaking down the statistics, Australia and Switzerland stood out as trading partners for Shanghai, with growth rates of 19.6 percent and 13.5 percent, respectively.

Meanwhile, Shanghai's trade with its largest partner, the European Union, rose by 2.7 percent to 773.67 billion yuan during the period.

What's more, the city's business in the realm of integrated circuits – crucial for electronics devices – put in a very robust performance.

Over the past 11 months, Shanghai imported semiconductors manufacturing equipment valued at 35.36 billion yuan, marking a substantial increase of 26.4 percent. Additionally, exports of integrated circuits experienced positive growth, reaching 1,673.3 billion yuan, up 12.6 percent on last year.