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15 July 2015

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Hunan’s Foreign Trade up 47.8% in First Eight Months

2019-09-11 Download Print Comment
Recently the Changsha Customs announced that, between January and August, Hunan’s foreign trade volume rose 47.8% over the same period of last year to 268.45 billion CNY. In August alone, the province’s foreign trade hit a monthly record high to 43.51 billion CNY, up 56.5%. 
 
Since the beginning of this year, new types of business such as market-based sourcing and cross-border e-commerce have developed rapidly in Hunan. In the first eight months, Hunan’s imports and exports through market-based sourcing was 1.82 billion CNY; that via cross-border e-commerce was 700 million CNY, an increase of 6.2 times. 
 
Hunan's trade with Hong Kong and countries along the ‘Belt and Road’ increased significantly during the January-August period.
 
Statistics showed that Hunan-Hong Kong bilateral trade volume reached 39.57 billion CNY, up 72.9%. Hunan’s trade with the United States climbed 9.5% to 23.42 billion CNY. Trade with countries along the Belt and Road rose 63% to 76.21 billion CNY, of which, that with Malaysia, Russia, Vietnam and India each exceeded 7 billion CNY.
 
Exports of high-tech products grew by over 80%, and that of mechanical and electrical products increased markedly. From January to August, Hunan exported 81.93 billion CNY of mechanical and electrical products, an increase of 65%; 24.86 billion CNY of high-tech products, an increase of 80.6%.
 
Imports of mechanical and electrical products dominated the provincial total imports. From January to August, Hunan imported 34.06 billion CNY of mechanical and electrical products, an increase of 16% and accounting for 42.8% of the provincial total imports in the same period. Automobile imports were 4.19 billion CNY, an increase of 220%. High-tech product imports were 18.07 billion CNY, an increase of 10.4% and accounting for 22.7% of the provincial total imports. 
 
This article is from Hunan Provincial Government. www.enghunan.gov.cn.
 
Translator: Xiao Juan
 
Chinese source: hunan.gov.cn