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Changsha Open Economy Leaps Forward

Updated: 2019-02-15

Lin Deng, a programmer working in the Changsha National High-Tech Industrial Development Zone, came to the import and export commodity exhibition and trading center in the zone again. She bought all the items on her shopping list, including Cambodian rice and Aptamil milk powder. She has adapted to buy foreign commodities here.

Thousands of products from more than 20 countries including France and South Korea are purchasable, thanks to such cross-border e-commerce platforms. Changsha consumers can buy whatever they want via online or offline channels.

In 2018, Changsha utilized 5.78 billion USD foreign capital, an increase of 10% over last year. The turnover generated from overseas-contracted projects and labor cooperation grew by 30%. The import and export volume reached 19.45 billion USD, up 40%.

Recently, Changsha is accelerating building its multimodal transport system that integrates high-speed rail, aviation, water transport, rail transit, and highways, to broaden its opening-up channels.

The broadened opening-up channels and favorable business environment make Changsha a more “international” city. Changsha’s annual e-commerce transaction volume exceeded 725 billion CNY (estimated) in 2018, up 30%.

Hunan sent off 163 China-Europe freight trains in 2018. The freight volume reached 194,300 tons. These trains not only transport Hunan’s high-quality products to European and Asian countries, but also bring foreign goods such as home furnishing wood, beer, and coffee to Changsha people.

Translator: Kuang Zhenzhen
Chinese source: icswb.com