Guangxi FTZ sees growth in foreign trade

In the first three quarters of 2021, the total value of foreign trade imports and exports in China (Guangxi) Free Trade Zone was 444.59 billion yuan ($69.63 billion), a year-on-year increase of 29.3 percent, which was 6.6 percentage points higher than national average and 6.4 percentage points higher than that of western countries, and an increase of 28.1 percent over the same period in 2019. The average annual growth rate now stands at 13.2 percent.

From January to October, Fangcheng port area in Beibu Gulf Port had a cargo throughput of more than 100 million metric tons, and its container volume exceeded 610,000 twenty-feet equivalent units.

The New International Land-Sea Trade Corridor is the main engine of growth for Guangxi FTZ. In the first three quarters of 2021, Guangxi FTZ's bonded logistics import and export amounted to 106.95 billion yuan, a year-on-year increase of 59.5 percent, driving foreign trade up 11.3 percentage points.

In the first three quarters of 2021, Guangxi FTZ automobile exports expanded 200.2 percent year-on-year. From January to October this year, Dongfeng Liuzhou Automobile exported 11,222 vehicles worth 1.74 billion yuan, year-on-year growth of 290.87 percent.

In the first three quarters of 2021, Guangxi's exports of high-tech products were 64.86 billion yuan, a year-on-year increase of 40.8 percent, and imports were 64.65 billion yuan, a year-on-year increase of 56.7 percent. Soybean imports were 17.14 billion yuan, a year-on-year increase of 24.4 percent, and metal ore imports were 62.31 billion yuan, a year-on-year increase of 71.4 percent.

Nanning area of China (Guangxi) Free Trade Zone. [Photo/WeChat account: gh_df8bc987e060]