The China (Hubei) Pilot Free Trade Zone-ASEAN Investment &Trade Conference was held via video conferencing on July 22, attracting the 80-plus enterprises from the China (Hubei) Pilot Free Trade Zone (hereafter referred to as “Hubei FTZ”), the envoys of ASEAN countries in China, as well as over 20 chambers of commerce and enterprises from ASEAN countries.

  ASEAN has become the largest trading partner of Hubei in 2019. The total imports and exports between Hubei and ASEAN amounted to 58.74 billion yuan in 2019, a year-on-year increase of 38.4 percent, accounting for 14.9 percent of the province's total, according to an official in charge of the Department of Commerce of Hubei Province.

  Last year witnessed Hubei’s contract amount of newly signed projects in ASEAN reached 5.77 billion U.S. dollars, and its completed turnover totaled 1.82 billion U.S. dollars, accounting for 34.7 percent and 27.5 percent of the province's total, respectively. In addition, the actual investment of ASEAN countries in Hubei achieved 151 million U.S. dollars, while Hubei’s actual investment in ASEAN countries stood at 164 million U.S. dollars, which doubled the previous year's figure.

  At the conference, the Management Committee of Hubei FTZ signed MOUs (Memorandum Of Understanding) with the business associations of Singapore, the Philippines and Thailand, seeking for further opening up and economic cooperation.

  (Source: en.hubei.gov.cn)