In 2020, Hunan business system, in the face of various risks and challenges such as the COVID-19 epidemic, has overcome and actively responded to difficulties; stabilized basic foreign trade and investment; and, promoted the recovery of consumption and the stabilization of enterprises. The provincial commerce and open economy developed steadily and achieved better results than expected. The Hunan Provincial Business Work Conference was held in Changsha on January 20. Hunan Vice Governor He Baoxiang attended and delivered a speech.

Hunan’s total import and export volume was 487.45 billion CNY in 2020, increased by 12.3%. The growth rate was 10.4 percentage points higher than the national average and ranked 8th nationwide. The actually-utilized foreign capital was 21 billion USD, an increase of 16%. The paid-in domestic capital in place was 873.73 billion CNY, grew by 22.5%. The actual foreign investment was 1.49 billion USD, an increase of 54.7% and ranking 10th nationwide and 1st in central China. The total retail sales of consumer goods reached 1,625.81 billion CNY, achieving positive growth for four consecutive months since September.

Vice Governor He spoke highly of the achievements made in provincial business and open economy. He pointed out that the strategy of “Three Highlands and Four New Missions” should be implemented throughout the whole process of business and open economic work. He asked to:
-Pay special attention to the top-level design and formulate the “14th Five-Year Plan” for business development plan;
-Build a high-quality pilot free trade zone and implement the tasks of “one industry, one park, and one corridor”, to tackle difficult points, sort out problems, give priorities to key points, and strengthen fulcrums;
-Promote consumption expansion and quality improvement, focus on bulk consumption, rural consumption and tourism consumption, and unblock the logistics system; and,
-Focus on platforms and channels construction, promote the accelerated establishment of cross-border e-commerce comprehensive pilot areas, and expand international logistics channels.

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

Translator: Yu Jiangjiang

Chinese source: hunan.gov.cn