Huaihua expo signs deals worth nearly 12b yuan

The second Hunan (Huaihua) RCEP Economic and Trade Expo opened Friday in Huaihua, Hunan province, with 28 projects totaling 11.88 billion yuan ($1.64 billion) signed.

These projects span sectors including luggage and leather goods, traditional Chinese medicine, new display technologies, machinery equipment, new energy and related equipment, cultural tourism, and commercial logistics.

The expo highlights five exhibition zones, three main events, and nine specialized matchmaking sessions. Key features include local economic elements, international cultural exchange, practical cooperation outcomes, and intelligent connectivity.

Thailand, the expo's guest country, has strengthened trade ties with Huaihua, with bilateral trade reaching 510 million yuan in 2024. Thai fruits, such as durian and mangosteen, are distributed across China via the Huaihua International Land Port.

Huaihua is strategically located at the intersection of the New Western Land-Sea Corridor and the Shanghai-Kunming International Trade Corridor. It is a national transport hub and a key node for Hunan's RCEP engagement.

The city operates 161 domestic and international freight routes, which buoyed its 87.23 percent annual average growth in trade with RCEP members from 2022 to 2024. In the first quarter of this year, Huaihua's foreign trade grew 9.3 percent to 3.54 billion yuan, with imports surging 101.2 percent, driven by a 160 percent increase in tapioca starch imports.

Huaihua aims to establish itself as a Hunan-ASEAN freight consolidation center, complemented by cross-border e-commerce, imported goods procurement, and cold chain logistics hubs. Leveraging RCEP, the city has transformed geographical challenges into international trade advantages.