Hunan's import and export value amounted to 505.6 billion CNY in the first ten months of the year, according to the data released by the Changsha Customs Authority on November 10. Imports grew 18.1% year on year to 174.68 billion CNY during that period.

Hunan-made construction machinery and "three emerging products", namely electric passenger vehicles, lithium batteries, and solar cells have been hot selling overseas. Between January and October this year, Hunan's export value of construction machinery, rail transit equipment, and aerospace equipment rose 56.4%, 53.1%, and 29.5% year on year, reaching 21.82 billion CNY, 750 million CNY, and 390 million CNY respectively. The export value of the three emerging products totaled 5.71 billion CNY, making a year-on-year increase of 40.3%.

During the past ten months, Hunan's trade with the countries involved in the Belt and Road Initiative (BRI) amounted to 264.61 billion CNY, taking up 52.3% of the provincial total and contributing to stabilizing foreign trade. ASEAN, Hong Kong SAR, the U.S.A., and the EU were the four largest trading partners of Hunan Province, contributing 45.9% to the provincial foreign trade. Meanwhile, Hunan has made constant efforts to explore emerging markets. The trade with Brazil, Russia, and Saudi Arabia saw double-digit growth.

Hunan's comprehensive bonded zones and bonded logistics centers have continued a momentum of growth. During the first ten months, Hunan's five comprehensive bonded zones achieved a total import and export value of 113.68 billion CNY, increasing by 0.7% over the previous year. Among them, the Yueyang Chenglingji, Changsha Huanghua, and Hengyang bonded zones exceeded 10 billion CNY each. The import and export value of two B-type bonded logistics centers hit 2.29 billion CNY, up 15%.

Translator: Pang Yuehui