13,000 new companies established in Nanning area in 2023

In 2023, the Nanning area of the China (Guangxi) Pilot Free Trade Zone added 13,000 new enterprises, including 151 foreign-funded enterprises, bringing the total to over 59,000.

Located in the core area of the Wuxiang New District in Nanning, the Nanning area is dedicated to developing advanced manufacturing and high-end productive service industries, aiming to become a demonstration base for integrated cross-border industrial development between China and ASEAN.

Efforts in the Nanning area are focused on promoting the chain-like development of advanced manufacturing, focusing on the development of an electronic information industry cluster based on the semiconductor industry chain, and the total output value of the electronic information manufacturing industry exceeds 20 billion yuan ($2.78 billion). The completion and operation of the Hot Chip Semiconductor project have filled the gap in the semiconductor manufacturing field in Guangxi FTZ.

The digital economy has emerged as a new opportunity for the development of cooperation between China and ASEAN. As of 2023, the Nanning area had attracted over 5,700 enterprises operating in the digital economy sector. The core base of the China-ASEAN Information Port has completed a total investment of over 35.6 billion yuan, with the completion of 40 projects.

The China-ASEAN Information Port Company is driving the development of digital infrastructure across the ASEAN region. This includes the establishment and operation of the Lancang-Mekong Cloud Computing Innovation Center in Laos, Cambodia, and Myanmar. Additionally, efforts are underway to create digital platforms such as the China (Guangxi) International Trade Single Window and the China-ASEAN Cross-border Credit Information Service Platform. They have engaged in nearly 20 digital economy projects in cooperation with ASEAN countries.