In the first five months of this year, Hunan's total import and export value with Africa reached 21.44 billion CNY, ranking eighth nationally and first in the central and western regions of China. Exports increased by 3.3% year on year to 10.97 billion CNY, while imports stood at 10.47 billion CNY. In May, Hunan's trade value with Africa hit 4.79 billion CNY, growing by 19.7%.

Private sector has contributed over 90% to exports. From January to May, Hunan's private enterprises achieved 17.17 billion CNY in trade with Africa. Among which, exports amounted to 9.93 billion CNY, rising 11.2% and taking up 90.5% of the province's total exports to Africa. Foreign-funded enterprises have completed imports and exports of 1.33 billion CNY, surging by 50.3%.

South Africa remains Hunan's largest African trading partner, while Hunan's trade with Mozambique, Sierra Leone, and others countries grew rapidly. During the first five months, Hunan's trade with South Africa reached 5.04 billion CNY, with the Democratic Republic of the Congo was 2.68 billion CNY, and with Nigeria 2.06 billion CNY. Trade with Mozambique soared 506.4% to 1.32 billion CNY, while the figures with Sierra Leone, Morocco, and Côte d'Ivoire surged by 674.9%, 177.1%, and 145% respectively.

Changsha has seen an over 5-fold increase, while Huaihua, Yueyang, and Zhuzhou achieved multiples of growth. Changsha's trade with Africa hit 11.21 billion CNY in the first five months, up 53.4% and accounting for 52.3% of Hunan's total trade with Africa. Huaihua, Yueyang, and Zhuzhou registered growth rates of 116.8%, 153.8%, and 125.6% respectively.

Exports of steel and the "new three" products—solar batteries, lithium-ion batteries and electric vehicles— grew significantly. During the January-May period, Hunan exported mechanical and electrical products worth 6.03 billion CNY to Africa, increasing by 8.5%. Steel exports grew 56.1% to 1.01 billion CNY, driving the overall export growth by 3.4 percentage points. Tea exports reached 190 million CNY, jumping 100.6%. Exports of competitive products like construction machinery and the "new three" products reached 1.38 billion CNY and 310 million CNY respectively, increasing by 58.8% and 612.5%.

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

Translator: Pang Yuehui

Chinese source: hunan.gov.cn