Hunan's three major tech-intensive green products, or the "new three"—new energy vehicles (NEVs), lithium-ion batteries, and photovoltaic products—posted robust export growth in the first eight months. The province exported 7.14 billion CNY of "new three" products, an increase of 43% year on year. The exported NEVs and lithium-ion batteries valued at 4.45 billion CNY and 2.26 billion CNY respectively, up 109.4% and 18.8%. The export of photovoltaic products reached 420 million CNY, the Changsha Customs Authority said on September 19, 2024.
Hunan's export enjoys a good momentum, with positive growth for six consecutive months. Since this March, the "new three" products export has witnessed a positive overall trend, maintaining promising growth for six consecutive months. The exports rose 156.4% to 1.49 billion CNY in May alone.
Private enterprises accounted for more than 90% of the total export while foreign-invested enterprises grew faster. From January to August, private enterprises in Hunan Province exported 6.62 billion CNY of the "new three" products, growing by 61.7% and accounting for 92.7% of the total. Among them, the Changsha BYD Auto Co., Ltd. realized exports of 3.66 billion CNY, an increase of 199.3% and accounting for 51.3% of the total. During the same period, Hunan's state-owned enterprises exported 490 million CNY of the "new three" products while those of the foreign-invested enterprises grew by 70.6% to 25.05 million CNY.
Changsha remains the major exporter of the "new three" products. It has exported 5.95 billion CNY during the January-August period, an increase of 82.4% and accounting for 83.4% of the total, with Zhuzhou and Hengyang in the second and third places respectively.
Brazil, Mexico, and the United States are major export destinations. In the first eight months, Hunan Province exported 1.78 billion CNY, 870 million CNY, and 730 million CNY of the "new three" products to Brazil, Mexico, and the United States respectively, surging 46 times, 46.6 times, and 26.5%. In trade with other economies, Hunan Province exported 2.32 billion CNY worth of "new three" products to countries involved in the Belt and Road Initiative, accounting for 32.4% of the total.
Translator: Yu Jiangjiang
Chinese source: hunan.gov.cn