Pilot FTZ in China's Guangxi boosts foreign trade

As of July, the China (Guangxi) Pilot Free Trade Zone (FTZ) had recorded a total of 858 billion yuan ($120 billion) of imports and exports since its establishment in August 2019, said local authorities on Thursday.

The foreign trade handled by the pilot FTZ amounted to 37.4 percent of the total recorded by South China's Guangxi Zhuang autonomous region during the period, according to a press conference.

During this period, the pilot FTZ also posted an accumulated actual use of foreign capital exceeding $1.47 billion, accounting for 36.8 percent of Guangxi's total.

The pilot FTZ has seen its gross industrial production by enterprises above the designated size soar from 55.85 billion yuan in 2020 to last year's 100.55 billion yuan, with average annual growth of 34.2 percent.

Since the establishment of the first pilot FTZ in Shanghai in 2013, China has established a total of 21 FTZs and the Hainan Free Trade Port. From coastal areas to central inland regions and border provinces, the FTZs have become pacesetters for the country's high-standard reform and opening-up endeavors.