Guangxi strengthens industrial park development to boost economic growth

In 2023, Guangxi introduced a series of policies to accelerate the development of its industrial parks, focusing on attracting investments, optimizing infrastructure, and fostering innovation across key sectors.

An example is the Tieshan Donggang Industrial Park in Beihai, where advanced facilities support the export of photovoltaic glass products to global markets. Additionally, the China-ASEAN Digital Economy Industrial Park has attracted over 50 high-tech companies, offering tax incentives and innovation platforms to drive the growth of the digital economy.

To enhance competitiveness, Guangxi is incorporating social capital into park development. Projects like water treatment plants and renewable energy facilities are helping improve infrastructure in parks like Hezhou and Beihai.

The collaboration between State-owned enterprises, private firms, and local governments has led to over 50 cooperative industrial park projects, with a total investment exceeding 160 billion yuan ($22.44 billion).

Furthermore, Guangxi continues to improve its business environment, offering simplified administrative processes and efficient services to attract companies. As a result, from January to September 2024, Guangxi's industrial parks achieved a total output value of 1.56 trillion yuan, a 9 percent year-on-year growth rate.

In Beihai's Tieshan Donggang Industrial Park, rows of factory buildings are neatly arranged. [Photo by Lin Qibo/Guangxi Daily]