On February 3, a supply chain management company in Changsha exported a batch of goods to Western Asia via market procurement trade. These goods include phone protection films, headsets, and table lamps, worth about 500,000 CNY.

Hunan's market procurement trade maintains the momentum of rapid growth at the beginning of the new year. According to the Changsha Customs data, Hunan's export volume through market procurement trade reached 816 million CNY in January, rising 24.96% year on year.

The market procurement trade enables the exporters to export goods of various kinds, in batches, and in small amount. Statistics shows that, Hunan's exported goods in the market procurement trade are mainly articles of daily use, base metals and related products, and machineries. In January, Hunan's exports to Africa through market procurement trade hit 89.73 million CNY, up 46.76% over the same period of last year.

Hunan officially launched market procurement trade in March 2019. Since then, more than 200,000 commodity items have been registered for export to 156 countries and regions around the world, with a total export volume of more than 30 billion CNY. In 2022, the provincial volume of export through market procurement trade hit 10 billion CNY for the first time, growing 27.2% to 10.73 billion CNY. A new engine for Hunan's foreign trade has thus taken shape.

In recent years, policies have been rolled out to accelerate Hunan's market procurement trade. For example, with a nationwide integrated customs clearance mode for market procurement, enterprises can directly deliver their goods from the production places to the nearest ports, and meanwhile going through the export clearance procedures in Changsha in accordance with the market procurement trade rules. This will cut the costs of stocking and exporting. Besides, the measures for prepackaged food export through market procurement trade have been carried out, which helps expand varieties of products for export.

The Changsha Customs will explore an "overseas warehouses + market procurement" mode this year. Enterprises will be encouraged to set up overseas warehouses in wholesaler cluster areas in African countries, and market procurement will be combined with the preferential measures of the Hunan Pilot Free Trade Zone, to promote the development of market procurement trade.

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

Translator: Pang Yuehui

Chinese source: hunan.gov.cn