On November 18, the Xiangtan Municipal People’s Government and the Changsha Customs signed a memorandum of understanding (MOU), marking a new milestone in the development of Xiangtan's open economy.

According to the MOU, the Changsha Customs and the Xiangtan Municipal People’s Government will jointly implement eight measures to promote the development of Xiangtan's open economy. These include supporting the development of major technical equipment and advantageous industries, establishing a "one-to-one" contact service system, assisting key industrial parks, industries, enterprises, and projects, cultivating new foreign trade growth areas, and helping companies capitalize on national preferential policies; strengthening customs tax policy research and putting forward suggestions to promote the development of key industries in Xiangtan; further supporting the development of new types of international trade, promoting the development of Xiangtan’s port economy, supporting the construction of China (Xiangtan) Cross-border E-commerce Comprehensive Pilot Zone, and creating more competitive customs clearance environment.

From January to October this year, the total import and export volume of Xiangtan City reached 26.53 billion yuan, a year-on-year increase of 34.3%. Of the total, imports reached 11.27 billion yuan, a year-on-year increase of 54.47%, and exports stood at 15.27 billion yuan, a year-on-year increase of 22.5%. Xiangtan City has been selected as one of the "Top 100 Foreign Trade Cities in China" for 6 consecutive years.

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

Translator: Xiao Juan

Chinese source: hunan.gov.cn