Central China's Hunan province sees rising foreign trade volume in 2018

Date: 17 Jan 2019

The import and export volume of central China's Hunan province surpassed 310 billion yuan ($45.8 billion) in 2018, a year-on-year increase of over 28 percent, the provincial commerce department said on 15 Jan.

Private enterprises played a bigger role in the province's foreign trade, accounting for 68.1 percent of the total foreign trade volume, up 1.1 percentage points compared with 2017.

The growth can be attributed to an improved trade structure and foreign trade environment in the province and cooperation with countries along the Belt and Road Initiative routes, said Luo Shuangfeng, deputy director of the department.

The commerce department said a total of 4,630 enterprises in Hunan were engaged in foreign trade in 2018, a year-on-year growth of 16.8 percent. The import from and export to emerging markets along Belt and Road Initiative routes increased 39 percent.

Mechanical and electrical as well as high-tech products were major exports and imports, taking up 48.8 percent of the province's total foreign trade volume.

Luo said Hunan had more competitive products in recent years after the industrial restructuring. Meanwhile, a batch of high-tech enterprises that chose to set up branches in Hunan have also brought new impetus to the inland province's foreign trade growth.

Source: China Daily

The information on this page may have been provided by a contributor to ChinaGoAbroad, and ChinaGoAbroad makes no guarantees about the accuracy of any content. All content shall be used for informational purposes only. Contributors must obtain all necessary licenses and/or ownership rights from the relevant content owner(s) before submitting such content (including texts, pictures, photos and diagrams) to ChinaGoAbroad for publication. ChinaGoAbroad disclaims all liability arising from the publication of any content/information (such as texts, pictures, photos and diagrams that infringe on any copyright) received from contributors. Links may direct to third party sites out of the control of ChinaGoAbroad, and such links shall not be considered an endorsement by ChinaGoAbroad of any information contained on such third party sites. Please refer to our Disclaimer for more details.