Yueyang’s Foreign Trade Ranks 2nd in Hunan

This year, Yueyang has given first priority to provide policy supports to facilitate foreign trade development, vitalize market entities, integrate into the Yangtze River Economic Belt development, and coordinate with the Yangtze River Delta region and the Guangdong-Hong Kong-Macao Greater Bay Area. Foreign trade maintained a steadily advancing momentum, and the quality increased.

Between this January and October, Yueyang’s imports and exports totaled 4.32 billion USD, increasing by 59.9% year on year. The exports were 2.587 billion USD, up 90.1%; and, the imports were 1.734 billion USD, up 29.3%. The foreign trade value ranked second across Hunan. 

The business environment for foreign trade has been improved. Provincial industrial parks, foreign trade enterprises, and companies intending to start foreign trade, were supported to make breakthrough or even multiplication. The foreign trade entities expand, consisting of state-owned, foreign-funded, and private enterprises.

Between January and October, 270 foreign trade enterprises created profits, 30 more than that of last year. Among these, 69 companies launched foreign trade, and 55 doubled their foreign trade profits. The authorities held cooperation promotion fairs for banks and enterprises, to provide support to the small and medium-sized foreign trade enterprises with orders and stable performance. Banks offered tailored financial products to foreign trade enterprises, to solve their problems in financing.

Beyond that, custom clearance procedures were streamlined, and the efficiency increased. The Yueyang Chenglingji Port made transportation and logistics development layout, to speed up building itself into a key hub of river and maritime transport along the middle reaches of the Yangze River. The port economy made an impetus effect. In the first ten months, Chenglingji Port handled 421,200 TEUs, increasing by 0.65% over last year. Imported vehicles totaled 6,683, up 231.5%.

Yueyang implemented the national “Belt and Road” initiative. It explored important international cities’ market in Africa, America, central and eastern Europe, and ASEAN countries. Taking opportunities that the Hunan government’s special projects of “Hunan products going global”, it promoted Yueyang products to the world, and supported Yueyang enterprises to explore international market. Some enterprises’ international standard increased, with their business further optimized. In addition to the traditional exported products such as chemicals, electromechanical, and light textile products, Yueyang’s food, porcelain, and handiworks were sold in more than 100 countries and regions in Asia, Africa, and Europe.

Translator: Pang Yuehui

Chinese source: yueyang.gov.cn