According to the Changsha Customs Authority, in the first two months of this year, Hunan's imports and exports reached 91.69 billion CNY, marking a year-on-year increase of 17.1%. Exports totaled 53.61 billion CNY, up 10.7%, while imports amounted to 38.08 billion CNY, rising 27.5%.

During this period, Hunan's trade with ASEAN, Latin America, China's Hong Kong SAR, and the EU grew by 13%, 48.5%, 64.6%, and 46%, respectively, collectively accounting for 53.9% of the province's total import-export value. The province's trade with Africa reached 8.05 billion CNY, while growth rates with Hong Kong SAR, the EU, and Latin America exceeded the overall provincial average.

The export structure has advanced towards higher-quality growth. Exports of mechanical and electrical products reached 32.3 billion CNY, up 24%, accounting for over 60% of the province's total exports. Among these, exports of automobiles; the "new three" products -- electric vehicles, lithium-ion batteries, and photovoltaic products; and, panel display modules increased by 50.5%, 99.1%, and 66.7%, respectively. Exports of high-tech products amounted to 7.48 billion CNY, rising by 57.1%. Exports of construction machinery, ceramics, and rail transit equipment increased by 27.4%, 24.1%, and 8.9%, respectively.

The demand for imports of resource-based products and consumer goods remained robust. Imports of bulk commodities reached 13.78 billion CNY, up 43.7%, accounting for 36.2% of the province's total imports. Driven by higher consumption demand during the Spring Festival holiday and other factors, imports of consumer goods amounted to 3.32 billion CNY, rising 7.4%.

Private enterprises contributed much of the growth. In the first two months, the number of enterprises in the province with actual import and export performance reached 6,220, an increase of 25.1%. Among them, private enterprises achieved imports and exports of 73.24 billion CNY, up 21.8%, driving the overall growth of the province's imports and exports by 16.7 percentage points. The figure accounted for 79.9% of the province's total import and export value and 83.6% of the total export value.

Half of the province's 13 cities and one prefecture achieved double-digit growth, including Changsha, Chenzhou, Zhuzhou, and Loudi. Among them, Changsha recorded imports and exports totaling 48.53 billion CNY, accounting for over half of the province's total import and export value.

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

Translator: Xiao Juan

Chinese source: hunantoday