Hunan’s import and export value hits 500 billion Yuan

Hunan’s total import and export value hit 500 billion yuan in 2021, presenting a steady growth, according to the business work conference of Hunan Province held on January 13, 2022.

The value of import and export from January to November last year totaled 539.06 billion yuan, ranking third in central China. The growth rate reached 26.5% year on year which was 4.5 percentage points higher than the national average.

A series of influential investment promotion events were held, such as the 2021 Hunan-Guangdong-Hong Kong-Macao Greater Bay Area Investment and Trade Conference Week. A total of 419 provincial-level key projects were contracted, with a total investment of 411.1 billion yuan.

Between January and November, foreign direct investment into Hunan Province, in terms of actual use, rose 66.8% year on year to 2.11 billion US dollars. During this period, Hunan’s paid-in domestic investment grew 27.5% to more than one trillion yuan. And its outbound investment increased 9.7% to 1.57 US dollars, ranking first in central China.

Hunan had held 248 exhibitions of various kinds, making a trading volume of about 380 billion yuan. Xiangtan, Chenzhou, and Zhuzhou were added into the pilot cities for cross-border e-commercial retail imports, making a total number of such cities to six. There have been 79 comprehensive demonstration counties on promoting e-commerce in rural areas, topping the list in central China. The total retail sales of consumer goods exceeded 1.68 trillion yuan, up 16% over last year. The biannual growth rate was 6%, two percentage points higher than the national average.

Hunan had rolled out plans and launched construction of five international freight clusters to promote Hunan products to international market. The number of the China-Europe Railway Express freight trains departing from Hunan hit 1,000, ranking fifth nationwide. The international cargo and mail throughput of the airports across the province amounted to 88,000 tons, up 33%. The container throughput of Yueyang’s Chenglingji Port reached 572,000 TEUs, increasing by 26.2%.

The provincial commercial authority set a target of “realizing an increase of 28% in foreign investment; 12% in domestic investment; 15% in import and export; and, 9% in retail sales of consumer goods” for 2022. Targeted policies and measures will be taken to stabilize the market, the market participants, and the supply chain, to forge ahead in the aspects of reform and opening up, investment promotion, and sci-tech innovation.

Translator: Pang Yuehui