From January to August this year, Huaihua’s foreign trade imports and exports continued to maintain a high growth rate. Total foreign trade came in at RMB8.5 billion, an increase of 2.5% year on year, hitting a record high for the same period of the year in history. Specifically, exports amounted to RMB7.33 billion, up 3.3%. Imports amounted to RMB1.17 billion.

In the first eight months of the year, both general trade and processing trade saw growth. General trade imports and exports totaled RMB6.85 billion, up 2.8%, accounting for 80.6% of the city’s total foreign trade volume; processing trade imports and exports totaled RMB1.65 billion, up 1.1%.

Private enterprises maintained their position as the largest market entities. From January to August, private enterprises’ imports and exports amounted to RMB8.02 billion, up 4.4%, accounting for 94.3% of the total. Among the top 10 trading enterprises by volume, nine were private enterprises. These enterprises continued to serve as a cornerstone for supporting foreign trade.

ASEAN, Hong Kong and the United States were Huaihua’s top three trading partners. In the first eight months, Huaihua’s imports and exports with ASEAN amounted to RMB2.22 billion, up 21.8%, accounting for 26.1% of the total; imports and exports with Hong Kong amounted to RMB1.98 billion, down 31.9%; imports and exports with the United States amounted to RMB630 million, down 6.5%. Huaihua’s imports and exports with Africa doubled, reaching RMB1.47 billion, an increase of 117.8%.

Imports of featured Southeast Asian products, such as tropical fruits and rubber, experienced significant growth. From January to August, Huaihua’s imports of fruits and rubber increased by 387% and 138.4%, respectively. The city also imported 42,000 metric tons of tapioca worth RMB100 million. Imports of metallic ores and mineral sand totaled RMB31,298,000, a decrease of 78%.

Exports primarily included mechanical and electrical products and labor-intensive products. The export volume of the “new trio” was remarkable. In the first eight months, exports of mechanical and electrical products amounted to RMB2.79 billion, up 9.7%, accounting for 38.1% of the total. Exports of labor-intensive products reached RMB2.65 billion, up 44.7%, accounting for 36.2% of the total. Among them, exports of textiles and apparel totaled RMB1.09 billion, up 78.2%; exports of bags and suitcases totaled RMB300 million, up 61.6%. Exports of the “new trio”, represented by lithium-ion batteries, photovoltaic products, and electric vehicles, increased by 180.7%, 54.8%, and 168.9%, respectively.

(Translated by Professor Yu Jie)