Between this January and August, Hunan had exported 1.12 billion yuan of rail transit equipment, increasing by 58.1% over last year, according to the data released by the Changsha Customs on September 19.

Hunan's export of rail transit equipment surged almost every month this year. The export volume stood at 310 million yuan in June, up 311.6%, and doubled in April and July. 

State-owned enterprises (SOEs) played a leading role while private enterprises sharply grew in this regard. In the first eight months this year, the rail transit equipment export volume of Hunan-based SOEs reached 980 million yuan, rising by 59.1% year on year and taking up over 80% of the total exports in that period. Private enterprises achieved a year-on-year increase of 83% in this sector, while the foreign-funded enterprises exported 37.51 million yuan of such equipment.

Trains were the majority in Hunan's rail transit equipment exports. In the first eight months, Hunan exported 710 million yuan of passenger trains, freight trains, and open wagons for external power supply railways and tramways. The figure showed a year-on-year growth of 128.6%, and accounting for 63% of the provincial export volume in that period.

Based on the analysis of the Changsha Customs, the implementation of the Belt and Road Initiative has given impetus to Hunan's rail transit industry. Represented by CRRC, Hunan's rail transit enterprises have taken the initiative to contribute to the Belt and Road Initiative, to promote rapid growth in both rail transit industry and bilateral trade. Between January and August, Hunan exported 500 million yuan of rail transit equipment to the countries and regions along the Belt and Road, growing by 157.8% and contributing nearly half to the total export volume in the period.

Beyond that, Hunan-based rail transit enterprises have been sticking to localized operation and high quality of products and remained committed to the European market. For instance, the CRRC Zhuzhou Locomotive Co., Ltd. acquired a German subsidiary Vossloh, and achieved sustained growth in the export of rail transit parts to European countries. In the first eight months, Hunan exported 270 million yuan of rail transit equipment to EU, up 20.7% over last year.

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

Translator: Pang Yuehui

Chinese source: hunan.gov.cn