Hunan Expands Trade with “Belt and Road” Countries in Q1
According to the Changsha Customs, Hunan’s exports to the “Belt and Road” countries amounted to 21.69 billion CNY in the first quarter. The growth rate was 55%, 13.7 percentage points higher than that of Hunan’s foreign trade in the same period.
The total value of imports and exports in the first quarter was 80.01 billion CNY, increasing by 41.3% over last year. The exports reached 54.22 billion CNY, up 60.4%; and, the imports reached 25.79 billion CNY, up 13%.
Statistical analysis shows that, Hunan’s trade with emerging markets, such as India and Chile, saw rapid growth of 90.8% and 160%. UN, and ASEAN countries are traditional partners.
Hunan sped up “going global” in recent years. More intensive efforts have been made to dovetail with the “Belt and Road” initiative, based on strong complementarity. Bilateral investment and economic and trade cooperation made progress. The trade with Malaysia, Viet Nam, India, and Singapore maintained high growth.