In May 2024,China made significant progress in the field of semiconductors.and Shanghais exports to Russia achieved significant growth.According to the data released by the General Administration of Customs and the data analysis of the Shanghai Customs,the activities in the two major fields performed outstandingly,injecting new vitality into the relevant industries and regional economy.Semiconductor equipment imports increased significantly

The unit price of imported equipment decreased continuously

Output:

In May 2024,China imported a total of 1,008 units of "machines and devices used for manufacturing semiconductor devices or integrated circuits",with a total value of $2.17 billion.The import quantity increased by 42% year-on-year,and the import value increased by 58.4% year-on-year.The average unit price of each device was $2.15 million,a 7% decrease month-on-month.Although the decline in prices has continued for two consecutive months,the decline has narrowed.

Judging from the full-year data,in the first five months of 2024,China imported a total of 4,860 such devices,with a total value of $12.65 billion,an increase of 23% and 82% year-on-year respectively,with an average unit price of $2.6 million.This shows that China continues to invest in the import of semiconductor manufacturing equipment,aiming to enhance the production capacity and technological level of the domestic semiconductor industry.

Shanghais exports to Russia rebounded

Output:

Chinas continuous expansion of investment in semiconductor manufacturing equipment shows its emphasis on the upstream links of the semiconductor industry chain.With the intensification of competition in the global semiconductor market,Chinas strategic investment in this field will help improve its independent innovation ability,reduce its dependence on imports,and promote the rapid development of the domestic semiconductor industry.

At the same time,in May 2024,Shanghais exports to Russia also performed very well.According to the data analysis of the Shanghai Customs,in May,Shanghais export value to Russia reached 446 million US dollars,an increase of 9% year - on - year and a significant increase of 34% month - on - month.Previously,due to the possible impact of US sanctions on foreign banks involved in Russia,Shanghais exports to Russia decreased significantly for two consecutive months in March and April,with declines of 21.7% and 19% respectively.

In May 2024,China imported 1,008 machines and devices for the manufacture of semiconductor devices or integrated circuits,with a value of 2.17 billion US dollars.The number of imports increased by 42% year - on - year,and the value of imports increased by 58.4% year - on - year.The average unit price of each device was 2.15 million US dollars,a 7% decrease month - on - month.Although it has decreased for two consecutive months month - on - month,the decline has narrowed.

Output:

At the same time,Shanghai’s export performance to Russia in May 2024 was also impressive.According to data analysis from the Shanghai Customs,Shanghai’s exports to Russia in May amounted to $446 million,an increase of 9% year-on-year and a significant increase of 34% month-on-month.Previously,due to the potential impact of U.S.sanctions on Russian foreign banks,Shanghai’s exports to Russia declined sharply in March and April for two consecutive months,with year-on-year decreases of 21.7% and 19% respectively.

In May 2024,the total import and export volume between Shanghai and Russia reached $1.17 billion,an increase of 6.7% year-on-year.Among this,the import volume from Russia amounted to $720 million,an increase of 5.3% year-on-year.In the first five months,the total import and export volume between Shanghai and Russia reached $5.46 billion,an increase of 5.9% year-on-year.Among this,the export volume amounted to $1.93 billion,an increase of 3.7% year-on-year,and the import volume reached $3.53 billion,an increase of 7% year-on-year.

Imported mining electromechanical equipment agents play an important role in promoting the transformation and upgrading of Chinas mining industry.In the future,agents will continue to give full play to their advantages and help Chinas mining industry achieve high - quality development.

Output:

In May 2024,China’s outstanding performance in semiconductor equipment imports and Shanghai’s exports to Russia provided a solid foundation for future economic development.China’s continuous investment in semiconductor equipment will help enhance the domestic semiconductor industry’s independent innovation capacity and international competitiveness.Meanwhile,the rebound in Shanghai’s exports to Russia further demonstrates the resilience and potential of Sino-Russian trade relations.

After export restrictions,South Koreas urea imports from China account for only 13%