(Yicai) Sept. 19 -- Shenzhen's imports and exports value in the first eight months of the year grew faster than that of Shanghai and Beijing, the two other largest Chinese cities in terms of foreign trade.

Shenzhen's imports and exports rose 8.1 percent to CNY2.37 trillion (USD324.8 billion) in the eight months ended Aug. 31 from a year earlier, data from Shenzhen Customs showed yesterday.

Shanghai's and Beijing's foreign trade increased 3.6 percent and 3 percent to CNY2.79 trillion and CNY2.39 trillion, respectively, according to data released by the two cities' customs authorities.

Private enterprises dominate Shenzhen's imports and exports, while foreign-funded and state-owned companies are the main players in Shanghai's and Beijing's foreign trade market, respectively.

Shenzhen's private firms imported and exported CNY1.55 trillion worth of goods and services in the first eight months of the year, up 15.6 percent from a year earlier, accounting for over 65 percent of the total, and helping increase the foreign trade by 9.5 percentage points, Shenzhen Customs noted.

Meanwhile, Shanghai Customs data showed that foreign-invested companies imported and exported CNY1.65 trillion between January and August, down 0.3 percent from the same period last year and making up 60 percent of the total. In Beijing, SOEs achieved foreign trade of CNY1.78 trillion, up 4 percent in the period and accounting for more than 74 percent of the total, according to Beijing Customs.

All three cities boast the European Union, the United States, and member countries of the Association of Southeast Asian Nations as their main foreign trade partners. In terms of product categories, the most common ones for Shanghai, Shenzhen, and Beijing are automobiles and mechanical and electrical products.

China has been vigorously supporting the private economy.

Since the beginning of the year, Shanghai has issued a number of policies to support the private economy. Last year, the eastern megacity's private economy logged an added value of CNY1.21 trillion, accounting for 27 percent of its gross domestic product. Private companies paid CNY466.6 billion (USD64 billion) in taxes last year, taking up 33 percent of the total.

Beijing has systematically planned the issuance of policies, services, and mechanisms to promote the development of the private economy. In July, China's capital city held a symposium for private entrepreneurs, in which it made clear that it would optimize the environment for the development of the private economy and fully boost the vitality of the private economy.

Editor: Futura Costaglione