On September 19, the Information Office of the Hunan Provincial People's Government held a press conference on developing Hunan into a hub of reform and opening up in inland regions. It announced that Hunan's import and export volume hit 500, 600, and 700 billion yuan respectively in the past three years. Hunan's international economic and trade "circle of friends" has expanded to 231 countries and regions.

Hunan has given full play to its advantageous geological location at the transitional "belt" and junction "zone", and actively integrated into national strategies such as the Yangzte River Economic Belt, Guangdong-Hong Kong-Macao Greater Bay Area (GBA), and Hainan Free Trade Port. The province has made efforts to increase the popularity of its investment attraction brands including the Hunan-GBA Investment and Trade Conference Week and Hunan-Yangtze River Delta Economic and Trade Cooperation Promotion Week. A total of 188 Fortune Global 500 enterprises have invested in Hunan. Over the past two years, 1,638 firms were registered by Hunan-born entrepreneurs returning to home, with paid-in investment totaling 745.4 billion yuan. Over the past three years, Hunan has utilized a total of 7.34 billion USD of foreign investment, and that of 2022 increased 210% from 2019. In August 2023, the Hunan-Hainan Advanced Manufacturing Co-construction Industrial Park started construction. It will be a "transfer station" integrating global resources and a gateway to the world for Hunan enterprises.

Hunan has integrated into the joint efforts in building the Belt and Road. The province has built ten industrial parks in countries and regions along the Belt and Road. Construction of "one railway and two industrial parks" project between Hunan and Laos and the Cote d'Ivoire industrial park in Hunan is progressing steadily. The Consulate General of the Republic of Malawi in Changsha was founded and a total 104 pairs of international friendship cities were established. Hunan enterprises have made their global presence to 111 countries and regions, with foreign direct investment ranking first in central China.

Hunan regards the China-Africa Economic and Trade Expo as a landmark project to promote innovative development. In the past three years, the average annual growth rate of Hunan's trade with Africa stood at 31.6%, ranking first in central and western China. Hunan has been one of China's most active provinces in carrying out economic and trade cooperation with Africa.

Five international trade channels involving air freight, China-Europe Railway Express, river-sea intermodal transport, rail-sea intermodal transport, and ASEAN freight transport have been built, enabling Hunan products to go global. Now 160 Chinese and foreign cities can be reached within four hours from the Changsha Huanghua International Airport. And a China-Europe freight train loaded with goods can reach Minsk in 12 days.

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

Translator: Xiao Juan