According to the statistics from the Changsha Customs on March 13, influenced by the COVID-19 Epidemic and the extension of Spring Festival holiday, Hunan’s total import and export value from January to February in 2020 amounted to 47.25 billion CNY. It was down 10 percent compared with the same period of the previous year, but it has maintained a continuous growth in the imports and exports with countries along the “Belt and Road” route.

Statistics showed that Hunan’s exports in the first two months declined 22.7% to 28.03 billion CNY, while its imports grew 18.5% to 19.22 billion CNY. Based on the analysis of the Changsha Customs, the COVID-19 Epidemic has a huge impact on the province's foreign trade industry chain, but Hunan has still witnessed a steady development, and its amount of foreign trade has seen a quarterly growing trend. According to the statistics from the Hunan Commerce Department, most foreign-funded enterprises have resumed production, and among 200 key foreign-funded enterprises in Hunan, 190 ones (95% of the total) have restarted their production.

Hunan has maintained a growth in the imports and exports with “Belt and Road” countries. Statistics showed that Hunan’s imports and exports to these countries reached 14.45 billion CNY during the first two months this year and obtained an increase of 2.4%, accounting for 30.6% of the province’s total export and import value. The deepening of business corporation with “Belt and Road” countries has expanded the development space for foreign trade, which has played a key role in stabilizing the basic condition of province's foreign trade. Hunan’s imports and exports to Brazil reached 2.27 billion CNY, seeing a 1.8-time growth. It imported 1.09-billion-CNY soybeans and 0.22-billion-CNY beef from Brazil. And there were no records about these two items during the same period of last year. It imported iron ores valued at 0.4 billion CNY, witnessing a 1.1-time growth.

The imports of bulk commodities and key consumption goods about people’s livelihood have shown a rapid growth. According to the statistics, the import volumes of bulk commodities including iron ores and coal increased 9.5 percent and 25.6 times respectively. The import value of agricultural products reached 4.07 billion CNY, a 1.6-time increase, vigorously promoting the stability of market supply and the prices of livelihood goods around the Spring Festival. The import value of soybeans achieved 1.14 billion CNY, increasing 4 times. The imports of beef, pork and mutton increased 24.3 times, 97.2 times and 5.2 times respectively. In addition, Hunan’s imports of consumption goods reached 3.62 billion CNY, a 1-time increase, which has shown a great potential in domestic demand.

This article is from Hunan Provincial Government www.enghunan.gov.cn. 

Translator: Wang Xiaolu

Chinese source: hunan.gov.cn