Guangxi's GDP growth in Q2 ranks among the best in China


Updated: 2020-07-28

Guangxi's GDP growth rate rose from -3.3 percent in the first quarter of the year to 0.8 percent in the first half of 2020, of which the growth rate in the second quarter increased by 4.6 percent, making it among the largest in the country.

The recovery of industrial production has been accelerated, achieving positive growth for three consecutive months. In the first half of this year, investment in high-tech industries increased by 29.3 percent and 370,700 new market entities were established.

Guangxi has taken full advantage of its unique location and made good use of various major platforms like the New International Land-Sea Trade Corridor, the China (Guangxi) Pilot Free Trade Zone, and the China-ASEAN Information Harbor to make new progress in opening up its economy.

In the first half of this year, 3,810 enterprises were newly established in the Guangxi FTZ, and the total number of settled enterprises exceeded 12,000. A total of 1,691 sea-rail intermodal trains have been opened on the land-sea trade corridor, an increase of 66 percent, while the volume of cargo throughput and container throughput of the Beibu Gulf port ranked first among the country's major coastal ports.

In the future, Guangxi will make greater efforts to promote the coordinated development of the industrial chain, as well as carry out a special action to strengthen key industrial chains of the automobile, machinery, electronic information, high-end metal new materials, green high-end petrochemicals, biomedicine, and high-end green homes industries.

The region will speed up the cultivation and construction of 90 high-growth industrial projects, as well as implement infrastructure construction of its transportation network, energy network, information network, logistics network, and underground pipeline network.

In addition, Guangxi will prepare for the 17th China-ASEAN Expo, restore the opening of border trade points, resume normal customs clearance operations, as well as promote the construction of major opening-up platforms.