Car exports from Shanghai in East China have experienced a remarkable surge this year, surpassing the total number of exports from the previous year within just 10 months.

According to Shanghai Customs, from January to October, the city's port shipped 2.01 million vehicles, marking a 28.8 percent increase compared to the same period last year. This stellar performance accounted for 38.1 percent of China's total car exports.

A significant portion of the exports consisted of electric vehicles. During the first 10 months, Shanghai exported 872,000 electric passenger cars, representing a 44.3 percent year-on-year increase. In fact, electric cars made up 43.3 percent of the city's total car exports during this period.

Further analysis revealed that Shanghai has also strengthened trade ties with countries involved in the Belt and Road Initiative.

In a recent shipment, the COSCO Sheng Shi, a roll-on/roll-off vessel operated by COSCO Shipping Lines, departed from the Shanghai Haitong International Automotive Terminal in the Waigaoqiao Bonded Area. The ship carried 2,730 domestically produced vehicles to Peru's Chancay Port, with plans for a regular monthly service between Shanghai and Chancay.

The COSCO Sheng Shi roll-on/roll-off vessel departs Shanghai Haitong International Automotive Terminal. [Photo/eastday.com]

The Waigaoqiao area has played a pivotal role in Shanghai's export success, handling 53 percent of the city's car shipments and over 20 percent of China's total car exports.

The Haitong Terminal alone exported 1.08 million vehicles in the first 10 months of the year. With operations now spanning more than 200 ports across over 110 countries and regions, the terminal is on track to hit record exports of 1.2 million cars by the end of 2024. This would mark the third consecutive year that the terminal's shipments abroad have surpassed 1 million units.

Source: eastday.com