The Changsha County Foreign Trade New Economic Complex, also the Changsha County Regional Comprehensive Economic Partnership (RCEP) Enterprise Service Center, was inaugurated on May 27th. The center is the first of its kind in Hunan Province. It was the first county-level exploration to accelerate the construction of a unique design of international cooperation in Hunan Province.

The RCEP agreement officially entered into force on January 1st this year. To seize the opportunity, Changsha County has made every effort to build the RCEP Enterprise Service Center, an export-oriented international service platform aiming to serve foreign trade enterprises, broaden the RCEP market, and expand trade and investment.

The center has introduced 20 professional trading companies. It has in-depth cooperation with many professional institutions such as the China Export & Credit Insurance Corporation Hunan Branch, Lawback (an international legal service platform), Changsha Bank, and Bank of China. It provides targeted services for micro, small, and medium-sized foreign trade enterprises in setting up online marketing channels, offering export credit insurance services, and solving the enterprises’ problems of “high risk, low security, and difficult to safeguard rights” in the process of “going global”. It strives to build itself into an RCEP economic and trade cooperation demonstration zone in the province.

Upon completion, the center is expected to accommodate more than 30 foreign trade enterprises and increase the annual foreign trade performance by 500 million USD.

Changsha County attaches great importance to economic and trade exchanges with RCEP member countries. In 2021, 93 foreign trade enterprises in the county traded with RCEP member countries. The total import and export volume reached 18.4 billion yuan, accounting for 18.7% of the county's total. On April 20th this year, the county led the province in releasing a three-year (2022-2024) action plan for the implementation of RCEP. “The Changsha County RCEP Enterprise Service Center will give full play to its advantages to help enterprises use RCEP preferential policies and build a one-stop international investment and trade service platform,” said a person in charge of the county's bureau of commerce.

Source: en.changsha.gov.cn