New member of '3 trillion club' aims to soar higher on global stage

Emerging tech

Electric vehicle manufacturing is already one of the largest industries in the province, which has embraced the use of emerging technologies so much that Hunan accounts for over 20 percent of global production. There are 13 new energy vehicle manufacturers in the province, with annual output exceeding 50,000 units.

Like other parts of China, Hunan has a "go global" strategy.

Hunan's technology enterprises and universities signed nine investment projects with their Hong Kong partners in April.

"We hope to work closely with Hong Kong and other cities in the Guangdong-Hong Kong-Macao Greater Bay Area in the fields of technology and innovation, resources, projects, talent and platforms," said Luo Jianjun, counsel of the General Office of the People's Government of Hunan Province.

Xu, the governor, said the province is striving to build a world-class industrial cluster, improve the level of intelligent manufacturing and enhance the competitiveness of enterprises. "We invite leading enterprises in construction equipment and key components to invest and develop in Hunan so that we can jointly overcome core technological difficulties and explore the international market," Xu said.

At the Hunan-UK Future Innovation Summit in Changsha in March, Liu Xiaoming, the Chinese ambassador to the United Kingdom, said a growing number of companies from Hunan are exploring opportunities for more cooperation with the UK in science, technology and innovation.

The CRRC Zhuzhou Institute has established research and development centers for semiconductor and electric drive technology in the UK, according to Liu.

He said Xiangtan Electric Manufacturing is working with Garrad Hassan and Partners on the development of direct-drive turbines for low-speed wind conditions.

Luo Shuangfeng, deputy director of the provincial Commerce Department, said Hunan has produced more competitive products in recent years after industrial restructuring.

Meanwhile, a batch of high-tech enterprises that chose to set up branches in Hunan has brought new impetus to the province's foreign trade growth. The import and export volume of Hunan province surpassed 310 billion yuan last year, a year-on-year increase of over 28 percent, according to Commerce Department data.

Private enterprises played a big role in the province's foreign trade, accounting for 68.1 percent of the total volume, up 1.1 percentage points compared with 2017.

The growth can be attributed to an improved trade structure and foreign trade environment, and cooperation with countries involved in the Belt and Road Initiative routes, Luo said.

Zhou Dunyi, a philosopher who lived in Hunan 1,000 years ago, said that knowing the trends of the times leads to success.

"In today's world, innovation is the way to development, and cooperation can lead to win-win results. This is the irreversible trend," Liu, the ambassador, said.

Hunan is leaping ahead with the times.