SHANGHAI's trade value in November increased 35.3 per cent to a record-breaking US$64.1 billion, Xinhua reports.

Export value also set a new high with $40.3 billion, up 36 per cent. Import value increased 34.1 per cent to $23.8 billion.

From January to November, Shanghai's trade value totalled to $618.4 billion, up 34.2 per cent year on year. Export value grew 31.6 per cent to $384 billion while import grew 38.6 per cent to $234.4 billion.

Shanghai's trade with the European Union increased 33.7 per cent to $139.6 billion. Trade with the US rose 30.6 per cent to $106.5 billion. Trade with Japan valued $82.2 billion, up 28.8 per cent. Growth of trade with these three markets was slower than average. Meanwhile, trade with ASEAN and Korea grew faster, increasing 49.3 per cent to $62.3 billion.

Electrical and mechanical product export value went up 33.9 per cent to $231.1 billion, taking up 60 per cent of the Shanghai's export value total. Value of labour-intensive garments and accessories, textile, furniture, plastics, shoes, toys came to $95.1 billion, up 22.8 per cent.

A substantial increase of 40.9 per cent was seen in hi-tech import value, to $83.8 billion, two percentage points faster than Shanghai's average import growth.