Guangxi Beihai Integrated Free Trade Zone. [Photo/bhepz.gov.cn]

From January to October this year, Beihai Integrated Free Trade Zone achieved foreign trade imports and exports of 10.33 billion yuan ($1.47 billion), an increase of 87 percent year-on-year, as well as processing trade imports and exports of 10.05 billion yuan, an increase of 89.8 percent.

This is the first time that Beihai FTZ has surpassed the 10 billion yuan mark, reaching a record high. The management committee has combined the advantages of the functions and policies of the FTZ to tap economic growth points, as well as guide qualified enterprises to achieve incremental capacity expansion and technological transformation. In addition, the FTZ has successfully introduced 20 projects with a contract investment of 2.68 billion yuan this year. 

The management committee also took actions to alleviate the financial difficulties of enterprises, such as cooperating with the Beihai branch of Guilin Bank and applying for support funds. It also attaches great importance to working closely with relevant departments. It has signed a joint action plan with Beihai Customs, promoting the high-quality development of FTZ, ensuring the implementation of new policies, and improving the efficiency of cargo clearance.