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Hunan’s Foreign Trade, Investment, Economy Booming

2019-01-18 Download Print Comment
The Hunan Provincial People’s Government Information Office held a press conference on January 16, 2019. The person in charge of the Hunan Provincial Department of Commerce announced that Hunan’s business and open economy maintained a steady development momentum. The “three foreign-related” indicators show growth, the business environment continued to be optimized, and the opening up foundation consolidated.
The "three foreign-related" indicators refer to foreign trade, investment, and economy, all of which increased. It was estimated that Hunan’s total import and export volume exceeded 300 billion CNY in 2018; and foreign trade reached a record high by growing up 28% over last year. In 2017, the provincial actually utilized foreign capital was over 16 billion USD, up 11.9% from the previous year; and that of domestic capital over 600 billion CNY, up 17.7%. The number of newly established foreign-funded and domestic-funded enterprises in the province increased by 70.6% and 23.5% respectively. In 2018, the provincial foreign contracted projects and labor cooperation business achieved a turnover of 8.46 billion USD, an increase of 20.1% compared with the previous year. Its actually invested foreign capital was 1.61 billion USD, grew by 17.5% yearly.
Hunan’s ranking on the domestic trade ranking list has also been improved in central China. The import and export volume of the special customs supervision area doubled again.
Hunan’s business environment has been optimized, and the opening up foundation constantly consolidated. In 2018, Hunan progressed in “optimizing general environment while catching up with Beijing, Shanghai, and Guangzhou”; promoting the reform of “streamlining administration, delegating power, strengthening regulation, and improving services”; and, pushing forward the “Internet + government services”. It has learned from the national free trade pilot zones to popularize 3 groups of 56 experiences and 2 groups of 12 typical cases. Its 10 trial tasks have made positive progress. The provincial investment and trade facilitation level has been significantly improved. The international logistics channel has kept expanding, the port functions improved, and the national-level economic and trade platform achieved a historic breakthrough. Beyond that, Changsha will be the fixed address of the China-Africa Economic and Trade Fair.
This article is from Hunan Provincial Government.
Translator: Yu Jiangjiang
Chinese source: