The Guangxi Department of Industry and Information Technology hold a press conference to introduce Guangxi's plan on promoting key industrial chains. [Photo by Yang Chen/chinanews.com]

According to Liu Shengyou, deputy director of the Department of Industry and Information Technology of Guangxi, the region will promote 11 industrial chains in the future to cultivate them into important industrial clusters in China and new industrial business calling cards of Guangxi.

The 11 industrial chains include the seven pillar industrial chains of automobiles, machinery, electronic information, high-end metal new materials, green petrochemicals, green homes, and biomedicine, as well as the four strategic emerging industrial chains of new energy vehicles, 5G communication equipment and applications, high-end equipment manufacturing, and cutting-edge new materials.

A policy on measures improving the stability and competitiveness of the supply of Guangxi's key industrial chains has also been promoted and issued recently to accelerate the development of the aforementioned industries.

The measures propose that Guangxi will establish overseas raw materials supply and insurance bases, strengthen international cooperation in technology and equipment, support enterprises to explore overseas markets, improve the modernization level of supply chains, as well as establish supply chain safety early warning mechanisms to hedge against any risks.

The Guangxi government will also provide assistance to related enterprises in areas like special scientific and technological research, finance, market development, as well as national support.

Guangxi has lowered the interest rate on corporate resumption loans by two percent, established industrial high-quality development funds, carried out auto group purchase promotions, raised funds to support the promotion of construction machinery and high-end green home products, as well as helped steel, cement, and other enterprises to sign purchase agreements with major projects in the region.