The Changsha Customs Authority announced on November 11 that in the first 10 months of this year, Hunan's total import and export value reached 494.26 billion CNY, up 12.7% year on year. Of this total, exports amounted to 282.21 billion CNY, up 7.4%, and imports amounted to 212.05 billion CNY, rising 20.8%.
 
Hunan saw trade growth with 121 partners. Trade with traditional markets such as the United States, the European Union, Japan, and the United Kingdom totaled 133.61 billion CNY, up 10.2%. Of these, trade with the United States and the EU increased by 15.2% and 18.6%, respectively; and trade with ASEAN and Latin America rose by 12.6% and 27%. With the APEC summit set to be held in Shenzhen, Hunan's trade with other APEC economies reached 285.38 billion CNY, up 18.5%.

Mechanical and electrical products played a supporting role in stable export growth. In the first 10 months, Hunan exported mechanical and electrical products worth 172.28 billion CNY, an increase of 13.2%, accounting for over 60% of Hunan's total export value. Of these, exports of automobiles, construction machinery, and the "new three" products—electric vehicles, lithium-ion batteries, and photovoltaic products—grew by 37%, 27.6%, and 40.1%, respectively.

AI-related products and resource-based products drove import growth. In the first 10 months, Hunan's imports of integrated circuits, computers and their components, and copper materials increased by 49.7%, grew 3.2-fold, and rose 28.7%, respectively, together contributing 11.2 percentage points to overall import growth.
  
Foreign trade entities are clustering at an accelerating pace, with private enterprises playing the leading role. In the first 10 months, the number of enterprises in Hunan with actual import and export performance reached 9,874, growing by 22%. Private enterprises' imports and exports totaled 396.69 billion CNY, increasing by 17% and accounting for over 80% of the province's total.

Changsha continued to lead the province, with imports and exports of 264.69 billion CNY, which showed a 13.1% growth and accounted for more than half of the province's total. Nine cities and one autonomous prefecture, including Chenzhou, Yueyang, Xiangtan, Zhuzhou, Hengyang, Changde, Loudi, Yiyang, and Xiangxi, maintained growth.

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

Translator: Pang Yuehui 

Chinese source: hunan.gov.cn