Hunan’s import and export in the first half of the year surpassed 330 billion yuan, reaching a record high, according to a report by Changsha Customs. The total value of imports and exports increased by 7.6% compared to the same period last year, surpassing the national foreign trade growth rate by 5.5 percentage points.
The first half of the year saw Hunan Province establish trade relations with 231 countries and regions around the world. ASEAN, the United States, and the European Union were the top three trading partners, with import and export values of 70.12 billion yuan, 33.07 billion yuan, and 28.72 billion yuan, respectively. Additionally, trade with RCEP member countries reached 106.69 billion yuan, accounting for 31.7% of total trade, while trade with countries along the “Belt and Road” amounted to 130.7 billion yuan, an increase of 16.1%. Trade with Africa also saw significant growth, reaching 31.18 billion yuan, an increase of 26.1%.
The report highlighted the accelerated development in northern Hunan, southern Hunan, and western Hunan, with Yueyang, Chenzhou, and Huaihua experiencing particularly high import and export growth rates. These regions saw respective increases of 32.9%, 82.1%, and 134.6%, outperforming the provincial average growth rate.
Hunan Province has also transitioned from an extensive growth model relying on low-cost labor to a model focused on technology and manufacturing. Mechanical and electrical products accounted for 46.4% of the total export value, while labor-intensive products such as clothing, shoes, and boots accounted for 20.3%.
Furthermore, green and low-carbon products, particularly electric passenger vehicles, lithium batteries, and solar batteries, have become a new growth point for the province’s foreign trade exports. The export value of these “three new” products reached 3.02 billion yuan, a significant increase of 44.7%.
To support and further enhance foreign trade, Changsha Customs has launched 30 new measures to optimize the business environment. These measures aim to improve the efficiency of cross-border trade, serve key industries, and cultivate new momentum for foreign trade development. They include establishing “green channel” windows at all customs clearance sites, promoting the import of advanced technology and equipment, and expanding cross-border e-commerce business in 14 cities and prefectures.
Despite challenges such as high inflation in developed economies and geopolitical conflicts, Hunan Province remains optimistic about the future of its foreign trade. With strong economic resilience and continuous policy support, the province aims to achieve stable and improved imports and exports in the second half of the year.