On May 25, Shaoyang County of China's Hunan Province organized an open day event for the local government, attracting numerous heads of enterprises as well as residents to participate on-site. In recent years, Shaoyang County has optimized its services for foreign trade enterprises by implementing several measures aimed at facilitating them to achieve stable production and ensuring the stability of foreign trade. Besides, the county has remained focused on improving the local market featuring opening up.

It is known that Shaoyang County has undertaken a careful study of foreign trade enterprises, in collaboration with various departments, aimed at addressing the challenges faced by businesses such as financing, insurance, market expansion, and business environment. The county is poised to integrate foreign trade resources in the areas of hair patches and wigs, as well as handcrafts, and focus on developing the Hunan (Shaoyang) Sino-African Economic and Trade Industrial Park. The project, which aims to foster cooperation with African countries, spans an area of 230 mu, with a substantial investment amounting to CNY one billion and a total building area of 200,000 square meters.

At the same time, in order to provide assistance to foreign trade enterprises and industrial parks, Shaoyang County has implemented tailored and personalized preferential policies for the Hunan (Shaoyang) Sino-African Economic and Trade Industrial Park, New Materials Industrial Park, and Shaoyang New Economy Industrial Park in a well-organized manner. Furthermore, to alleviate the financial pressure faced by enterprises, the Commerce Bureau of Shaoyang County has collaborated with the SME Service Center in the region. They are working together to encourage financial institutions to offer low-cost financing guarantees to businesses. This effort has assisted companies in addressing the challenges related to obtaining financing and the high costs of financing effectively. Shaoyang County launched a foreign trade promotion fund project in 2022. Shaoyang Meisha Hair Products Co., Ltd. and other nine local foreign trade enterprises were among the recipients of this project.

Shaoyang is currently witnessing a rapid surge in its foreign trade enterprises, bolstered by the launch of several industrial parks, including the Hunan (Shaoyang) Sino-African Economic and Trade Industrial Park, New Materials Industrial Park, and Shaoyang New Economy Industrial Park. In addition to this, traditional production-based enterprises such as Hunan Foutech Co., Ltd. and Hunan Lanyin Cultural Development Co., Ltd. are also making efforts to expand their export trade and tap into a wider market through foreign trade. 

Source: China Radio International