Guangxi FTZ to boost opening-up in border areas
Guangxi Zhuang autonomous region has received approval to establish one of the six new pilot free trade zones (FTZs) in China to take opening up in border areas to higher level, according to a master plan announced by the State Council on Aug 26.
The plan clarifies that the new Guangxi FTZ aims to make full use of the unique advantages of Guangxi and ASEAN countries, contribute to the construction of the New International Land-Sea Trade Corridor in West China, as well as form an important gateway to the link between the Maritime Silk Road and the Silk Road Economic Belt.
Nanning Comprehensive Bonded Zone in Nanning, Guangxi Zhuang autonomous region. [Photo/gxnews.com.cn]
Covering a total implementation scope of 119.99 sq km, Guangxi FTZ consists of three areas: 46.8 sq km in Nanning, including 2.37 sq km of Nanning Comprehensive Bonded Zone; 58.19 sq km in Qinzhou Port Area, including 8.81 sq km of Qinzhou Free Trade Port Area; and 15 sq km in Chongzuo, including 1.01 sq km of Pingxiang Integrated Free Trade Zone.
Qinzhou Free Trade Port Area in Qinzhou, Guangxi Zhuang autonomous region. [Photo/gxnews.com.cn]
The Nanning area focuses on the development of modern service industries, such as modern finance, smart logistics, digital economy, and cultural media. It also focuses on the development of new manufacturing industries, as well as the construction of an important node for the financial gateway of ASEAN and the Land-Sea Trade Corridor. The key development areas of Qinzhou Port Area include port and shipping logistics, international trade, green chemicals, key components of new energy vehicles, electronic information, and bio-pharmaceutical industries. The Chongzuo area will promote cross-border trade, logistics, finance, tourism, and labor cooperation to create a cross-border industrial cooperation demonstration zone, as well as build a new land-based gateway for the Land-Sea Trade Corridor.
Pingxiang Integrated Free Trade Zone in Chongzuo, Guangxi Zhuang autonomous region. [Photo/gxnews.com.cn]
The plan also proposed 16 major tasks and measures, such as building a world-class business environment, improving the level of trade facilitation, building a financial gateway for ASEAN, strengthening scientific and technological innovation, as well as building a gateway to the western Land-Sea Trade Corridor.