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Changsha Approved as State-Level Foreign Trade Transformation and Upgrading Base

Updated: 2018-11-21

On November 19, it was released from the Changsha Municipal Bureau of Commerce (CMBC) that Changsha was awarded the “National Foreign Trade Transformation and Upgrade Base (Textile)” plaque by the Ministry of Commerce at the recent National Textile & Apparel Foreign Trade Transformation and Upgrade Base Work Conference.

In 2017, the Ministry of Commerce launched an assessment campaign to select national foreign trade transformation and upgrading bases. A total of 255 bases across the country were included into the list, involving eight categories such as machinery and electronics, agricultural products, light industry, textiles, medicine, new materials, specialty chemicals, and metal building materials. Nine bases in Hunan have been approved to be national level. Hunan have the second largest number of such bases in the central region. Among them, there are 2 bases from Changsha: Textile Foreign Trade Transformation and Upgrading Base; and Tea Foreign Trade Transformation and Upgrading Base.

According to the data provided by CMBC, Changsha’s exports of textile yarns, fabrics and products in 2017 totaled 170 million USD, a year-on-year increase of 21.3%. Between January and September 2018, Changsha’s exports of textile yarns, fabrics and products reached 210 million USD, a year-on-year increase of 107.3%.

The state-level foreign trade transformation and upgrading base identification is an important task to accelerate foreign trade transformation and upgrading, and promote foreign trade adjustment in driving force and structure. It is also a full affirmation of the development achievements of Changsha’s foreign trade transformation and upgrading. In the next step, Changsha will start from key aspects such as product innovation, quality improvement, brand cultivation, and market promotion to give full play to its industrial strength; offer more support to the construction of foreign trade transformation and upgrading bases; strengthen the competitiveness of Changsha’s various bases in the international market; and consolidate and promote the traditional competitive advantage of foreign trade.

Translator: Kuang Zhenzhen
Chinese source: changsha.cn