FTZ may be catalyst for Shanghai’s trade growth

Shanghai's trade expanded 5.7 percent from a year earlier in March as exports and imports increased, the Shanghai Statistics Bureau said yesterday.

Exports from Shanghai rose 1.1 percent to US$16.6 billion last month, defying the national drop of 6.6 percent. Imports jumped 9.5 percent to US$21.6 billion, again performing better than the slump of 11.3 percent across the country.

The trade performance, which contrasted sharply with national data painting a dismal picture of China’s trade, may be a result of Shanghai’s pilot free trade zone helping power the growth.

Li Maoyu, analyst at Changjiang Securities Co, said the surprisingly good results may be due to the China (Shanghai) Pilot Free Trade Zone.

"Since its debut six months ago, the free trade zone has become a catch phrase and attracted attention among traders," Li said. "It will help Shanghai grow its weight in global trade despite the currently weak external and internal demand."