Group 1 - The total import and export value of Shanghai to ASEAN reached 143.52 billion yuan in the first quarter, with a year-on-year growth of 7.1% [1] - Shanghai Jingrong Technology Co., Ltd. achieved an export order growth rate of over 10% through continuous transformation in smart, digital, and green practices [1] - The customs authority simplified the certificate of origin process for Shanghai Jingrong, reducing time and labor costs for the company [1] Group 2 - A direct shipping route from Shanghai Port to Cambodia's Kampot Port was opened, successfully delivering nearly 10,000 tons of equipment and vehicles within the first month [2] - The direct route reduces maritime transport time by 50%, taking only 8 days to complete the journey [2] - This new shipping line enhances trade cooperation between China and Cambodia, contributing to regional supply chain stability [2]

Core Viewpoint - The article discusses the competitive dynamics between Shanghai and Shenzhen in the realm of foreign trade, highlighting how Shanghai regained its position as the top foreign trade city in China after losing it to Shenzhen. The resurgence is attributed to the rise of private enterprises and strategic adjustments in trade partnerships and structures [3][60]. Group 1: Trade Dynamics - In 2024, Shenzhen surpassed Shanghai to become the top foreign trade city, driven by the rapid growth of cross-border e-commerce and a significant number of export enterprises [6][7]. - Shanghai's foreign trade structure has been evolving, with private enterprises increasingly dominating the landscape, accounting for 56.8% of total import and export values in the first quarter of 2025 [11][12]. - The total import and export value of Shanghai reached over 1 trillion yuan in the first quarter of 2025, marking a significant recovery and surpassing Shenzhen [61][62]. Group 2: Private Enterprises' Contribution - In 2024, private enterprises in Shanghai contributed 1.63 trillion yuan to the city's GDP, accounting for over 30% of the total, and their tax contributions reached 559.9 billion yuan, nearly 38.2% of the city's total [16][20]. - The number of newly established private market entities in Shanghai reached 377,000, with private enterprises providing over 295,600 job opportunities, representing more than three-quarters of the city's total employment [20][18]. - The growth of private enterprises is evident in their export performance, with a 26% year-on-year increase in export value in the first quarter of 2025 [22][24]. Group 3: Strategic Adjustments - Shanghai has been actively restructuring its trade partnerships, reducing reliance on traditional markets like the U.S. and Europe, while increasing trade with countries like Russia and India, which saw export growth rates of 43.8% and 30.8%, respectively [45][48]. - The city has diversified its trade relationships, with Southeast Asia becoming an important market, as evidenced by the establishment of direct shipping routes to countries like Cambodia [54][55]. - Shanghai's proactive measures to support private enterprises and enhance the business environment reflect its commitment to maintaining its status as a leading trade hub [30][68].