This year marks the 10th anniversary of the Belt and Road Initiative, which President Xi Jinping proposed in 2013 to improve infrastructure connectivity between countries. The Changsha Customs announced on July 18 that over the past 10 years, Hunan has achieved fruitful economic and trade cooperation with countries along the Belt and Road. Hunan's trade with Belt and Road countries grew from 34.42 billion CNY in 2013 to 256.91 billion yuan in 2022, an increase of 6.5 times.

In the first half of this year, Hunan's imports and exports with countries along the Belt and Road went up16.1% to 130.7 billion CNY, accounting for 38.8% of the province's total foreign trade.

With the high-quality development of Hunan's manufacturing industry and the improvement of five international logistics channels, Hunan has gradually expanded its market presence of construction machinery and new energy products in countries along the Belt and Road.

Construction machinery products from companies like Sany Group, Zoomlion, and Sunward Intelligent Equipment Group have been well-received overseas. In the first half of the year, Hunan's exports of engineering machinery to countries along the Belt and Road reached 9.54 billion CNY, an increase of 115.3%.

Hunan enterprises engaging in new energy vehicles and lithium batteries have expanded their markets in Vietnam, India, Thailand, and other countries, becoming new highlights in Hunan's exports to countries along the Belt and Road. In the first half of the year, Hunan's exports of electric passenger vehicles and lithium batteries to countries along the Belt and Road reached 500 million CNY and 320 million CNY, increasing by 205.8% and 12.1% respectively.

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

Translator: Xiao Juan

Chinese source: hunan.gov.cn