The Hunan Provincial Department of Commerce announced on February 20 that provincial major business indicators showed explosive growth in January. At the beginning of this year, Hunan enterprises ushered in a broad prospect in “going global” strategies.

Statistics showed that in January, Hunan enterprises proposed to invest 206 million USD, an increase of nearly 2,200% over last year. Actual investment was 121 million USD, an increase of nearly 90%. Hunan enterprises have signed new foreign-contracted project contracts worth more than 1.9 billion USD in January, nearly 4 times as much as last year at this time. Business volume reached 163 million USD, up nearly 200% from last year. 

Leading key projects played a vital role in driving Hunan enterprises international business growth in January. CRRC Zhuzhou Locomotive Co., Ltd. won a bid for an overseas subway project worth 1.866 billion USD. The project is the largest overseas engineering project for a Hunan concern in recent years. Lens Technology invested 200 million USD into its Vietnamese subsidiary, to improve the company's global supply chain system in consumer electronics. This year Hunan government will focus on strengthening international cooperation and exchanges and enhancing independent controllability of industrial chains and supply chains to help Hunan enterprises going global, according to the Hunan Provincial Department of Commerce.

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

Translator: Xiao Juan

Chinese source: hunan.gov.cn