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China's Hubei sees foreign trade surge in 2020
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China's Hubei sees foreign trade surge in 2020

Central China's Hubei Province, once hit hard by COVID-19, saw an 8.8-percent growth in foreign trade in 2020, according to customs figures.

The total import and export value of the province reached 429.41 billion yuan (about 66.3 billion U.S. dollars) last year, according to customs in the provincial capital Wuhan.

The total value of Wuhan's foreign trade reached 270.43 billion yuan, accounting for 63 percent of the province.

Hubei's trade volume with the European Union and the United States increased by 17.1 percent and 22.8 percent, respectively, last year, and the province's trade volume with the ASEAN dropped 5.6 percent year on year.

The foreign trade by private enterprises in Hubei totaled 255.47 billion yuan, a 20.9-percent growth year on year, accounting for 59.5 percent of the province's total. The total value of import and export of cross-border e-commerce grew 67.1 percent.

Hubei's exports of textiles, clothing and agricultural products experienced robust growth in 2020, surging by 332.9 percent, 25.8 percent and 12.3 percent, respectively.

The growth of imports was boosted by semiconductor manufacturing equipment, integrated circuits and consumer goods, which rose by 25.8 percent, 22 percent and 45.3 percent, respectively, year on year.

Building on its effective containment of COVID-19, China has rolled out a raft of measures to stabilize foreign trade and investment. 

XinhuaGu Yetao

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