According to the statistics released by the Changsha Customs on Nov. 22, Hunan-Taiwan trade hit a record high with the import and export volume exceeding one billion yuan in October, a year-on-year increase of 2.2 times. The import reached 640 million yuan and the export 810 million yuan, an increase of 6.1 times and 1.3 times over the previous year respectively.
Hunan has actively promoted the construction of water transportation economy around Dongting Lake to push forward China’s “Belt and Road” initiative. In July 2014, a direct shipping route between Yuyeyang’s Chenglingji port and Taiwan was officially launched, which has greatly saved the shipping time. This year from Jan. to Oct. the bilateral trade between Hunan and Taiwan reached 5.91 billion yuan, with a year on year increase of 93.6%, accounting for 4% of the provincial total.
The growth rates of import and export volume in June, September, and October alone were over 200% compared with the same period of last year.
The electric appliances and electronic products are Taiwan people’s favorites among Hunan’s exported products, which contributed a total value of 1.21 billion yuan or accounted for 58.5% of the provincial total. The imports of high-tech products from Taiwan increased by 2.3 times to 1.7 billion yuan, accounting for 51.9% of the provincial total.
Customs special supervision areas including comprehensive bonded zone are great contributors to Hunan-Taiwan trade. The total import and export volume generated by Hunan’s current four customs special supervision areas amounted to 3.53 billion yuan, taking up 59.8% of the provincial total.