Guangxi FTZ home to 56,000 companies after years of growth

The press conference. [Photo provided to chinadaily.com.cn]

The national opening-up platforms in Guangxi have achieved positive outcomes in sectors spanning industry, taxation, high-end technology, and green development, Diao Weihong, deputy head of the Commerce Department of Guangxi Zhuang Autonomous Region, announced on Jan 27.

Guangxi now has 17 national opening-up platforms, including the China (Guangxi) Pilot Free Trade Zone. It also boasts 11 economic and technological development zones, such as Nanning Economic and Technological Development Zone, as well as five border economic cooperation zones, including Dongxing Border Economic Cooperation Zone.

Guangxi's foreign trade increased by 22.2 percent year-on-year in 2021 and the region attracted $1.65 billion in total foreign investment, with a year-on-year growth of 25.4 percent. 

More than 56,000 companies have settled in Guangxi FTZ since its establishment in 2019, 15 times the figure before 2019, of which 55 are either Fortune Global 500 or China's Top 500 companies.

Together with the 11 economic and technological development zones, they accounted for one third of Guangxi's import and export volume, as well as half of the region's actually used foreign capital.

Diao added that Guangxi will further give full play to its national opening-up platforms, as well as strengthen their supporting capacity in finance and industrial chains to attract more foreign-investment projects.