The 2023 First Hunan-Europe Economic and Trade Promotion Week opened in Hunan Xiangjiang New Area on November 23. More than 100 participants attended the opening ceremony and business matchmaking activities, including leaders and department heads from the Hunan Provincial Department of Commerce and the Hunan Xiangjiang New Area Management Committee, and economic consuls from the British Consulate General in Guangzhou and other diplomatic envoys to China. Additionally, there were representatives from European enterprises, economic and trade associations, as well as relevant domestic associations, platforms, enterprises, and professional purchasers.

At the event, more than 20 European enterprises such as InterContinental Hotels Group, HSBC, Foster + Partners, DTZ, and Schaeffler Group, along with over 50 Hunan enterprises including Xiangjiang New Area Development Group, Zoomlion, SNTO, and Cofoe participated in one-to-one negotiations.

The event will last until November 27. It will deepen Hunan-Europe economic and trade exchanges and cooperation and effectively dovetail European advantageous projects with Hunan's market demand. What's more, it is an important practice of Xiangjiang New Area to actively build a demonstration zone for China (Hunan)-Europe cooperation.

During the promotion week, the organizers will hold various activities at China Resources Ode to Joy Outlets, Hunan Xiangjiang New Area (Changsha High-tech Zone) Import and Export Commodity Exhibition and Trading Center, Lugu International Food Street, and other venues. Events include the Hunan-Europe Import and Export Commodity Exhibition, a stall culture and art festival, and a tent fair. Visitors will have the opportunity to explore and purchase quality European products, taste delicious European food, and immerse themselves in European culture.

To date, Hunan has established economic and trade exchanges and cooperation with 231 countries and regions. In the past three years, Hunan's import and export value has reached the thresholds of 500 billion yuan, 600 billion yuan, and 700 billion yuan successively. The actual utilization of foreign capital has grown at an average annual rate of 58.7%, and outbound investment from Hunan ranked among the top ten in China. In the 2022 "Business Environment Evaluation by Ten Thousand Private Enterprises" conducted by the All-China Federation of Industry and Commerce, Hunan and its provincial capital Changsha have risen to the 7th and 6th places in the country respectively, both ranking first in the central and western regions of China. Renowned companies such as Germany's Bosch, France's Danone, and Britain's HSBC have invested and developed business in Hunan. Among the Fortune Global 500 enterprises,188 have invested in Hunan, creating 346,000 jobs.

In the first half of 2023, Xiangjiang New Area's foreign trade value amounted to 35 billion yuan, an increase of 11%. The volume of transactions on the cross-border e-commerce platforms rose 40% year on year to 8.6 billion yuan.

Translator: Kuang Zhenzhen