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An Overview of Foreign Investment and International Trade in Hubei Province

Time£º2017/03/14 16:34:17 View£º hits

According to the Department of Commerce of Hubei Province and Wuhan Customs, the total value of imports and exports in Hubei Province from January to February this year rose at a rate of 19.6% year-on-year, and the actual utilized foreign capital last month amounted to over 0.72 billion with a year-on-year rise of 10%.

 

More than 60% of the total foreign capitals were injected in the secondary industry, mostly in the manufacturing of devices, new energy and photoelectron areas; over 30% of the foreign capitals are utilized in service industry, with a rapid growth in the field of medical, finance, and designing. Hubei Province will continue attracting foreign investment as a result of the construction of Hubei Free Trade Zone. The Free Trade Zone is to be built as a base for high-tech industries, and will promote the development of Yangtze River Economic Belt.

 

Opinions about the Implementation of Further Expanding the Opening to the Outside World and Improving the Utilization of Foreign Funds are expected to be announced by the Government of Hubei Province in the recent future to facilitate foreign trade and investment in Hubei Province.

 

As the capital of Hubei Province, Wuhan City makes use of 60% of the foreign capital in Hubei. Such a large proportion indicates that, for quite a long time to come, Wuhan will become a land of treasure for foreigners who seek the opportunity to invest in China and to develop international trade with Chinese partners. Legal professionals will provide assistance or service in the aspects of foreign capital admission, foreign exchange control and establishment of foreign-investment enterprise etc., which will enable foreigners to conduct business much more easily and conveniently than ever before.

 

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