The conference inviting outstanding private companies in China to contribute to Guangxi's construction and rejuvenation is held in Nanning on Dec 21. [Photo by Yu Jing/chinanews.com]

A conference inviting outstanding private companies in China to contribute to Guangxi's construction and rejuvenation was held in Nanning, capital city of Guangxi Zhuang autonomous region, on Dec 21.

The conference, jointly hosted by the All-China Federation of Industry and Commerce (ACFIC) and the People's Government of Guangxi Zhuang Autonomous Region, was held in both online and offline venues. 

Setting up its main venue in Nanning and sub-venues in Hong Kong, 14 Guangxi cities, and 71 Guangxi counties, the event has gathered representatives from around 500 member companies of ACFIC and 100 private companies who were commended for their roles in fighting the COVID-19 pandemic.

Gao Yunlong, chairman of ACFIC, noted that Guangxi enjoys unique geographic advantages, rich natural resources, and a solid industrial foundation. He added that Guangxi is well-prepared to develop modern agriculture, strengthen modern industry, as well as optimize the modern service industry. 

Gao expressed his hope that private companies can make more contributions to Guangxi's all-around opening-up and rapid development, support the high-level construction of the China (Guangxi) Pilot Free Trade Zone, as well as carry out cross-border cooperation and exchanges in economics and trade.

A total of 60 investment and cooperation projects were signed during the conference, with an overall investment of 208.3 billion yuan ($31.8 billion), while a total of 28 projects announced the start of their construction at the conference, with an overall investment of 213.9 billion yuan.

Officials from the Investment Promotion Agency of Guangxi Zhuang Autonomous Region said that the investment amount of six projects exceeded 10 billion yuan, covering areas spanning green chemical new materials, electronic information, machinery and equipment manufacturing, as well as automobiles.

In addition, many private companies have made full use of the development opportunities like the signing of the Regional Comprehensive Economic Partnership (RCEP) to expand their global markets and ASEAN markets via Guangxi's platforms.