The Changsha Customs released latest imports and exports data on November 9. Between January and October this year, Hunan’s import and export value amounted to 478.57 billion yuan, making a steady growth of 27.7% over last year.

The Regional Comprehensive Economic Partnership (RCEP) will officially take effect on January 1, 2022. Hunan has maintained a good momentum of economic and trade contact with the RCEP partners. In the first ten months, the imports and exports between Hunan and the RCEP partners increased by 26.6% year on year. ASEAN remained Hunan's largest trading partner during the period, with the combined trade volume rising 17.5% to 75.11 billion yuan which accounted for 15.7% of the province’s foreign trade volume.

Mechanical and electrical products remained major exported products of Hunan, which had contributed 44.5% to the province’s foreign trade. The export of electronic components and electrical appliances surged. As for imported products, notable increases had been seen in iron ore and soybean imports.

Translator: Pang Yuehui