In the first half of this year, the import and export value of Hunan's rail transit equipment reached 750 million yuan, an increase of 101.2% compared to the same period last year, according to data from Changsha Customs released on August 9.

State-owned enterprises dominate the foreign trade. In the first six months, the import and export value of rail transit equipment by state-owned enterprises in Hunan reached 620 million yuan, a year-on-year increase of 98.6%, accounting for more than 80% of the province's total import and export value of rail transit equipment. The import and export value of Sino-foreign joint ventures doubled, a year-on-year increase of 152.8%.

Zhuzhou is the main exporter, while foreign trade volumes of Changde and Yongzhou are growing rapidly. In the first six months, Zhuzhou's import and export value reached 710 million yuan, a year-on-year increase of 102.3%, accounting for 94.4%; Changde and Yongzhou's import and export value increased by 714.0% and 485.2% respectively. The trade values of Changde and Yongzhou were all contributed by export products.

Germany, the Czech Republic, and Mexico are Hunan's main trading partners. Hunan's trade with the three countries all registered substantial growth. In the first half of the year, Hunan's foreign trade volume with Germany, the Czech Republic, and Mexico reached 210 million yuan, 100 million yuan, and 100 million yuan respectively, a year-on-year increase of 128%, 359.2%, and 1786.2%.

Changsha Customs analyzed that the significant growth in imports and exports of Hunan's rail transit equipment is mainly attributed to the decline in international transportation costs and active import and export trade. Taking exports between Hunan and Germany as an example, the price of a 40-foot container has gradually returned to pre-pandemic levels. This year, the Mexico City's Metro Line 1 project and the Istanbul's new airport metro vehicle project in Turkey have entered the stages of raw material import, assembling, and complete vehicle delivery, which has contributed to an increase in import and export trade.

This article is from the Hunan Provincial Government www.enghunan.gov.cn.

Translator: Xiao Juan

Chinese source: hunan.gov.cn