Changsha county earns over $3b in foreign trade in H1

The total value of Changsha county's foreign trade rose to $3.12 billion in the first half of the year, a nearly 70 percent increase over the same period last year, according to customs data.

The figure accounts for one seventh of Hunan province's total foreign trade, and one third of Changsha's total. Of the total foreign trade value, exports were worth $1.82 billion and imports were worth $1.3 billion, an increase of 132.1 percent and 31.2 percent, respectively.

Someone from the Changsha county bureau of commerce said that in addition to enterprises in the Changsha Economic and Technological Development Zone, the foreign trade value within the county reached $1.33 billion, an increase of 421.9 percent over the previous year.

New growth engines such as the Changsha Huanghua Comprehensive Bonded Zone are playing a leading role in the county. There are currently 203 enterprises in the comprehensive bonded zone that handle foreign trade qualifications, achieving a total value of $1.09 billion in first half of the year and accounting for 34.9 percent of the total.

Mechanical and electrical products, new high-tech products and auto parts and components achieved the highest numbers, recording $2.12 billion, $699 million and $359 million in trade, respectively. These are traditionally the most competitive industries in the county.

Private enterprises maintained their first position in terms of foreign trade value, earning $1.57 billion, up 276.9 percent year-on-year, and representing 50.3 percent of the total value. Foreign-funded enterprises and state-owned enterprises followed with $1.5 billion and $50 million, respectively, accounting for 48 percent and 1.7 percent.

General trade was valued at $2.11 billion, accounting for 67.6 percent of the total trade value and representing an increase of 59.4 percent over the previous year. Processing trade reached $938 million, an increase of 90 percent.

The total trade value between Changsha county and the European Union, Hong Kong, Japan, the US and ASEAN reached $2.14 billion over the past six months. Trade with countries along the Belt & Road enjoyed rapid growth, increasing by 96.2 percent to $651 million.