Heilongjiang province in Northeast China has seen rapid growth in imports and exports during the first 11 months of 2017.[Photo/Chinanews.com]

Foreign trade between Heilongjiang province in Northeast China and Russia maintained rapid growth during 2017, thanks to deepening and expanding Sino-Russian cooperation.

According to statistics released by Harbin customs department on Dec 25, the imports and exports of Heilongjiang province surged by 20.1 percent year-on-year to reach 115.96 billion yuan ($17.68 billion) in the first 11 months of 2017.

The total value of Heilongjiang's imports and exports to Russia was 67.52 billion yuan, representing a year-on-year increase of 23.7 percent; and it accounted for 58.2 percent of the total value of the province’s imports and exports.

“The rising price of crude oil is the main factor which contributed to the growth in Heilongjiang’s foreign trade,” said a member of staff from Harbin customs department.

From January to November, the value of Heilongjiang’s imported crude oil accounted for 58 percent of the province’s gross import value. The price of imported crude oil increased 28.1 percent, resulting in a 31.8 percent rise in the value of imports.

Customs authorities also mentioned that the rapid increase in exports of electronic devices drove the development of Heilongjiang’s foreign trade.

“Heilongjiang’s imports and exports to Russia have become a new driving force in the province’s foreign trade,” said Song Kui, a researcher from Heilongjiang Provincial Academy of Social Science.