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15 July 2015

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Hunan's Total Foreign Trade Value Surpassed 562.8 Bln Yuan During Jan-Oct Period

2022-11-11 Download Print

Hunan stabilized overall performance of foreign trade and foreign investment between January and October this year, according to the Changsha Customs on November 10, 2022. Its total foreign trade value jumped 21.6% year on year to 562.83 billion CNY. Exports reached 412.48 billion CNY, surging 29.5% year on year. In this October, Hunan's imports and exports rose 38.4% year on year to 68.72 billion CNY, increased by 38.4% compared with the same period last year, and a 15.3% up from a month earlier.

Africa trade hit a new record high. In the first ten months, Hunan's trade value with Africa was 46.13 billion CNY, growing by 50.5% year on year. Both import and export volume topped the central and western regions of China. Relying on the Pilot Zone for In-depth China-Africa Economic and Trade Cooperation, Hunan's new trade format with Africa has developed rapidly. In the first ten months, Hunan's export volume to the African market through market procurement trade methods hit 1.7 billion CNY, an increase of 24.7 times year on year. The agricultural products imported from Africa were valued at 64.13 million yuan, up 130.3% year on year. The imported high-quality African agricultural products have found their way onto Chinese tables.

Hunan's imports and exports to major trading partners such as the Association of Southeast Asian Nations (ASEAN), the European Union, and the United States have grown. ASEAN remained the largest trading partner of Hunan Province, with the bilateral trade volume accounting for 20.5% of Hunan's total. Hunan's total foreign trade with 64 countries along the "Belt and Road" route rose by 48.7% year on year to 199.71 billion CNY, accounting for more than one third of the total.

The import and export of private enterprises rose rapidly, and the comprehensive bonded zones witnessed better development trend. In the first ten months, there were 7,776 enterprises with foreign trade performance provincewide. The import and export value of private enterprises increased by 29.4% year on year, accounting for more than 80% of provincial total during the same period. Hunan's five comprehensive bonded zones achieved a total foreign trade volume of 115 billion CNY, an increase of 11.7% year on year, and contributing 12% to the growth of the provincial foreign trade sector.

This article is from the Hunan Provincial Government

Translator: Yu Jiangjiang

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