On October 20, the Hunan Department of Commerce held a conference on analyzing Hunan’s commercial and open economic situation during the first three quarters this year. Between January and September, Hunan had completed 1.338 billion USD of outbound direct investment (ODI), increasing by 20.4% year on year, and ranking first in central China. The turnover of foreign contracted projects saw a 20.8% growth.

In order to facilitate Hunan enterprises to “go global”, Hunan government has completed a mechanism integrating “policy support, project sharing, and profit sharing”, to assist 27 projects to collaborate as a whole. It has reinforced collaboration with financial and credit insurance organizations to establish a cooperative system of “information sharing, jointly promotion of projects, and joint discussion on work”. It guided enterprises to boost projects through online matchmaking and contracting, and built an outbound investment cooperative project database which had 684 registered projects so far. It has boosted regional cooperative development, and coordinated enterprises in and out of the province to jointly participate in the key projects in the Republic of Guinea, the Democratic Republic of the Congo, Cote d'Ivoire, and Nigeria.

Foreign-aid activities helped facilitate “going global”. So far, 7 Hunan enterprises have got foreign aid and consultation service qualification, at the national forefront in terms of the number. Hunan is also at the front rank in terms of size and quality of foreign-aid training. Thirty-four foreign-aid training classes had been held online, providing training for 2,091 trainees.

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

Translator: Pang Yuehui

Chinese source: hunan.gov.cn