Shanghai port traffic soars in '04

The port of Shanghai, China's largest, saw foreign trade continue to soar in 2004, handling US$161.3bn of imports and US$121.3bn of exports, up 44% and 37% respectively. Trade by foreign foreign-invested companies via Shanghai added up to US$176.6bn, some 62.5% of the total trade volume the port handled in 2004, China Daily reported citing customs statistics. Government efforts to cool the economy slowed imports of steel, iron and other raw materials, the newspaper said.