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Changsha’s Foreign Trade up 64.7% in First 8 Months

Updated: 2019-09-11

Changsha’s foreign trade value rose 64.7% from last year to 123.28 billion CNY in the first 8 months of this year, according to the Changsha Customs.

The growth rate was 16.9 percentage points higher than the provincial level. The exports totaled 86.52 billion CNY, up 90.3%; and, the imports totaled 36.76 billion CNY, rising 25.1%. The city’s foreign trade value hit a monthly record high of 20.91 billion CNY in August.

Private enterprises played a bigger role in foreign trade. Between January and August, the volume of imports and exports by Changsha’s private enterprises grew by 101.5% to 90.04 billion CNY, accounting for 70.1% of Changsha’s total import and export value; and, that by Changsha’s state-owned enterprises was 7.89 billion CNY, up 42.1%.

General trade dominated Changsha’s foreign trade. During the January-August period, Changsha’s imports and exports in general trade were 90.12 billion CNY, up 54.7%, accounting for 73.1% of Changsha’s total import and export value.

Mechanical and electrical products and high-tech products contributed significantly to Changsha’s exports. In the first 8 months, Changsha exported 44.02 billion CNY of mechanical and electrical products, up 87.5%, accounting for 50.8% of the city’s total export value. The exports of high-tech products totaled 17.96 billion CNY, up 84.1%, accounting for 20.7% of the city’s total export value.

Translator: Kuang Zhenzhen
Chinese source: hunantoday.cn