Hunan’s foreign trade increased from US$ 3.19 million in 1985 to US$ 46.53 billion in 2018. Paid-in capital soared from US$ 260,000 in 1983 to US$ 16.191 billion in 2018. More than 1,570 enterprises of Hunan have invested in 93 countries and regions, and their combined investments have amounted to US$ 23.382 billion, making Hunan the top province in this regard in central and western China. Hunan’s high-speed railways measure 1,730 kilometers, ranking 4th in China. Hunan’s airline routes cover all continents of the world.
Hunan Provincial Government Information Office held thesecond press conference on the 70th anniversary of the founding of the People's Republic of China on the morning of September 4. Xu Xiangping, Secretary of Party Leadership Group and Director-General of the Department of Commerce of Hunan Province, briefed the media on Hunan’s achievements in developing commerce and an open economy over the years. He illustrated Hunan’s opening-up and rise with a series of data.
Hunan hasmadea great leap from “working behind closed doors” to “opening up and embracing the world” over the past 70 years. Its foreign trade surgedfrom US$3.19 million in 1985 to US$ 46.53 billion in 2018.
In July 2019, Hunan’s foreign trade totaled RMB 42.22 billion, registering a record monthly growth of 78.1%. Its exports rose 63.1% in the first seven months of 2019, higher than that of any other province in China.
Foreign investment in Hunan has continued togrow since the first joint venture Yuexiang Qiangfeng Co., Ltd. was established in 1981.
Up to now, more than one-third of theFortune 500 companies have invested in Hunan. Paid-in capital in the province soared from US$ 260,000 in 1983 to US$ 16.191 billion in 2018.
More than 1,570 enterprises of Hunan have invested in 93 countries and regions, along with Valin's acquisition of FMG, Zoomlion's acquisition of CIFA, Sany's acquisition of Putzmeister, and Truking's acquisition of Romaco, which have international influences. The combined investments of all the enterprises have reached US$ 23.382 billion, making Hunan the top province in this regard in central and western China.
In June 2019, Hunan successfully hosted the first China-Africa Economic and Trade Expo(CAETE). A total of 53 African countries and more than 10 international organizations were involved, and 81 cooperation agreements worth more than US$ 20 billion were signed during the event.
The past 70 years have witnessed Hunan’s dramatic transformation in transportation. Today, its high-speed railways and expressways measure 1,730 kilometers and 6,725 kilometers respectively, ranking 4th and 5th in the country. Its airline routes cover all the continents of the world. Ten railway lines of China-Europe Railway Express pass through the province and its logistics services cover 30 countries along the lines. It is among China’s top provinces in terms of total cargo transportation.
Hunan has themost open platforms in central China. It is home to 16 national-level economic development areas and high-tech zones, 123 provincial-level industrial parks, three industries worth trillions of yuan, 11 industries worth hundreds of billions of yuan, and 20 emerging industry chains.
The China-Africa Economic and Trade Expo will be held in Hunan for a long time to come, and Changsha has been designated as the permanent site for the World Computer Congress. Hunan’s applications for running national projects have been successively approved, including Southern and Western Hunan Industrial Transfer Demonstration Zone, Changsha Cross-border E-Commerce Comprehensive Pilot Zone, Gaoqiao Grand Market for Piloting Trade Based on Market Purchasing, and Parallel Importing of Cars.