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Changsha’s Foreign Trade up 54.7% in Q1

Updated: 2019-04-25

Despite the slow recovery of the global economy and the rise of trade protectionism, Changsha's foreign trade still made remarkable achievements in the first quarter of 2019. The city achieved an import and export volume of 5.39 billion USD, up 54.7% over last year. The growth rate was 20.8 percentage points higher than that of the whole province and 56.2 percentage points higher than that of the whole nation. The exports were 3.73 billion USD, rising 81%, while imports were 1.66 billion USD, an increase of 16.6.

Between January and March, the foreign trade volume of Changsha’s processing trade increased significantly by 49.2% to 1.01 billion USD, constituting 18.7% of the city’s total in the same period. The exports were 590 million USD, up 35.8%, while imports were 410 million USD, up 74%.

As a processing trade hub, Changsha’s Huanghua Comprehensive Bonded Zone had outstanding performance in the first three months. The total imports and exports of processing trade reached 474 million USD, accounting for 47.1% of the city’s total.

Changsha’s actually utilized foreign capital increased steadily by 9.2% to 1.62 billion USD in the first quarter. The actually utilized capital from other places of the Chinese Mainland besides Hunan was 29.56 billion CNY, up 16.5%. So far, 156 Fortune Global 500 companies have settled in Changsha.

Translator: Kuang Zhenzhen
Chinese source: hunantoday.cn