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Changsha export-import trade gains good momentum

(chinadaily.com.cn)
Updated: 2017-09-25

Changsha Economic and Development Zone, located in Changsha county, registered a year-on-year increase of 32 percent in import and export trade value over the first seven months, standing at $1.85 billion, statistics revealed.

The zone's total foreign trade deals accounted for 23.85 percent of the Hunan province capital's total, ranking first among its peers in the city. Specifically three major industries, engineering machinery, automobile making and electronic information largely constitute to the rapid growth in the region.

Benefiting from the opportunities presented by the Belt and Road Initiative, engineering machinery companies, such as Sany Heavy Industry Co and Sunward Intelligent Equipment Group, experienced strong development momentum in import and export economy and are estimated to reap foreign trade value of $400 million by the end of this year.

In August, China Railway Construction Heavy Industry Co (CRCHI) first imported its tunnel boring machine (TBM) with independent research and development to Iran, marking the first application of such equipment in an overseas project.

Since 2017, CRCHI has exported 14 TBM products to various overseas countries, such as Russia, Iran and Turkey, bringing in export value of 400 million yuan ($60.69 million), up by 209.19 percent compared to the same period last year. It is expected to become the fifth enterprise involved in foreign trades to reach total revenue of $100 million in the zone.

Changsha export-import trade gains good momentum

Trucks are parked in a workshop of Sany Heavy Industry, based in Changsha Economic and Development Zone, Hunan province. [Photo by Jiang Lian/csxnews.com]

GAC Mitsubishi Motors, GAC Fiat Chrysler and German auto parts supplier Robert Bosch GmbH constitute the main force in the zone's automobiles and parts industry with an expected foreign trade deals totaling $1.5 billion in 2017.

Being bellwethers in electronic information industry, Lens Technology and MFS Technology also witnessed a steady rise during this period, which is projected to complete export-import deals worth $950 million in the whole year.

At present, there are 15 Hunan-based enterprises recording foreign trade of more than $100 million, four of which are located in Changsha Economic and Development Zone.

Two additions of CRCHI and Sany Auto will also be enrolled to the list, making the region even more lucrative.

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