Shandong's trade volume with countries and regions involved in the Belt and Road Initiative reached 660.82 billion yuan ($101.83 billion) in 2020, up 9.1 percent year on year and accounting for 30 percent of Shandong's total foreign trade, according to official statistics.

The province's exports to economies involved in the Belt and Road Initiative hit 388.35 billion yuan last year, up 18.2 percent from the previous year, while imports totaled 272.47 billion yuan, down 1.6 percent year on year.

Over this period, Shandong's general trade with countries involved in the Belt and Road Initiative was valued at 475.46 billion yuan, up 9 percent year on year and accounting for 72 percent of Shandong's total foreign trade with countries involved in the Belt and Road Initiative.

Private enterprises remained the main force behind trade with countries involved in the Belt and Road Initiative, trading a total of 506.83 billion yuan, up 14.5 percent year on year and accounting for 76.7 percent of the province's total foreign trade with countries involved in the Belt and Road Initiative.

ASEAN was Shandong's largest import and export market, and trade with the region saw year-on-year growth of 24.4 percent, accounting for 45.5 percent of the province's total foreign trade with countries involved in the Belt and Road Initiative.

Mechanical and electrical products, labor-intensive products, and agricultural products were Shandong's main export commodities to countries involved in the Belt and Road Initiative with a total value of 169.7 billion yuan, up 24.6 percent year on year and accounting for 43.7 percent of total exports.