In the first eight months this year, Hunan's exports of the "new three" products—electric vehicles, lithium-ion batteries, and photovoltaic products—showed a strong momentum of growth, according to the Changsha Customs Authority. The total export value reached a record high of 12.69 billion CNY, increasing by 77.8% over the same period of last year. 

Specifically, during the January-August period, Hunan exported electric vehicles valued at 8.03 billion CNY, up 80.4% year on year, and lithium-ion batteries worth 4.25 billion yuan, up 87.9%. In August, exports of the "new three" products amounted to 1.37 billion CNY, growing by 41.4% and marking the 11th consecutive month of positive growth.

Regionally, Indonesia, Mexico, and Germany were the top three export markets. From January to August, Hunan's exports of the "new three" products to Indonesia, Mexico, and Germany were 2.95 billion CNY, 1.75 billion CNY, and 1.02 billion CNY, representing growth rates of 571.9%, 101.9%, and 64.4%, respectively. During the same period, exports to ASEAN, EU, and Africa soared 506%, 100.8%, and 530.6% respectively, reaching 3.9 billion CNY, 1.88 billion CNY, and 610 million CNY. 

Changsha accounted for the largest share of the provincial total exports, and Xiangxi and Shaoyang saw robust growth.

Private enterprises served as the "main driver," leading the overall growth momentum. In the first eight months, Hunan's private enterprises exported 12.38 billion CNY of the "new three" products, surging 87% year on year and accounting for 97.5% of the total.

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

Translator: Pang Yuehui

Chinese source: hunantoday