(Yicai Global) Sept. 26 -- Shanghai's international trade jumped 15.8 percent from a year earlier to CNY415 billion (USD58.1 billion) in August, setting a record high for the second month in a row, driven by vehicle exports.

Shanghai’s total exports last month rose 9.2 percent to CNY204.7 billion, while imports surged 26.2 percent to CNY174.3 billion, Yicai Global learned from the city’s customs authority.

The double-digit headline growth was buoyed by exports of cars, mostly hybrid passenger vehicles, tablet computers, as well as mechanical and electrical products.

Overseas sales by Shanghai-based SAIC Motor, China’s biggest carmaker, soared 66 percent to 100,840 vehicles in the month, accounting for almost 20 percent of its total. In the first eight months of the year, the figure was 579,851, up 57 percent from a year ago.

The Chinese yuan's deprecation against the US dollar also has helped spur export growth. An executive at an overseas trade firm in Shanghai told Yicai Global that it plans to take advantage of the weaker redback to nail down more orders.

In July, Shanghai’s imports and exports jumped 16.4 percent and 32.9 percent, respectively, driven by a recovery in industrial and supply chains after the Covid-19 outbreak in the first half was brought under control in the previous month. The city’s foreign trade was worth CNY404.2 billion in July.

From January to August, Shanghai’s imports and exports grew 4.8 percent to CNY2.7 trillion (USD378 billion), accounting for almost 10 percent of China's total following a first-half contraction.

Editors: Dou Shicong, Futura Costaglione