The city of Fangchenggang in the Guangxi Zhuang Autonomous Region has been maintaining a rapid economic development momentum this year by grasping new opportunities along with that of its neighboring areas.

The city has taken advantage of economic cooperation along the Pan-Beibu Bay Rim, the China-ASEAN (Association of Southeast Asian Nations) Free Trade Zone and the opening and development of the Beibu Bay Economic Zone. Furthermore, it has successfully tapped the geological, port and resource advantages of the city to push forward the coordinated development of the port and industry, as well as the rate of urbanization.

Between January and August this year, the city's total output value, financial revenue and scaled industrial total output increased by 21 percent, 43.3 percent and 71.5 percent year-on-year respectively.

During the period, social fixed asset investment and port cargo throughput increased 58.5 percent and 65.7 percent compared with the same period last year. In addition, the city's urban resident per capita disposable income and its foreign import and export volume rose by 28.4 percent and 18.0 percent compared with the same period last year. The figures reveal a rapid and efficient trend in the city's economic development rate, with a high prosperity index.

Industry has become the main driving force of the city's economic and social development. A group of world top 500 multinationals, as well as famous domestic and foreign companies have invested in the city of Fangchenggang, while many world-renowned logistics companies have set up representative offices and outlets in the city.

With such well-known companies flocking to the city, Fangchenggang has become a hot investment destination for domestic and foreign businesses including the COFCO Group of China, ADM of the United States, CLP Group of Hong Kong and Singapore's South China Shipping Company.

Statistics indicate that during the first eight months of 2007, Fangchenggang introduced 68 investment projects with a total investment of nearly 6 billion yuan. Most of these projects are located near the port.

Last year, the proportion of the primary, secondary and tertiary industrial structure in the city was 21.9 : 41.7 : 36.4. The proportion of the secondary industry exceeded that of the tertiary industry for the first time. Besides, the proportion of industries in the secondary sector was as high as 84.84 percent, contributing 49 percent to the economic development of the city and 8.4 percent to the growth of the local economy.

The setting up of the China-ASEAN Free Trade Zone and the construction of the Beibu Bay Economic Zone presents unprecedented opportunities for Fangchenggang. Under such circumstances, the city's geological and port advantages will be further brought into play and its strategic status further enhanced.

Blueprint for growth

The city government has worked out a blueprint to build up an international port with an annual throughput of more than 100 million tons. The city of Fangchenggang is now carrying out the strategy of allowing more room for port development and actively introducing strategic investors to accelerate the development of large-scale special harbor and container harbor. It will also open new international and domestic routes to help build up an efficient channel between China and the ASEAN countries.

Regarding improving infrastructure and speeding up the construction of transportation, energy and port sectors, the city has strengthened cooperation with Vietnam to start the construction of a second bridge at Beilun River between China and Vietnam at the earliest. It also plans to build highways and railways to connect Fangcheng Port with Dongxing. The highways and railways are to be linked with Mong Cai and Hanoi in Vietnam. The network thus resulting is expected to turn the area into a regional transportation hub.

Fangchenggang will improve its industrial setup and development by further perfecting its industrial planning, accelerating development of the nuclear power, iron and steel, petrochemical and ship-building industries, to forge an iron and steel and energy base. This will also create favorable conditions for the industrial setup of the Beibu Bay Economic Zone and will aid the construction of a rising industrial city for Guangxi.

The city will speed up development of a modern logistics and service industry, aiming to build a regional logistics center within the China-ASEAN Free Trade Zone. At the same time, it will strengthen cooperation with other cities within the region to develop tourism.

Fangchenggang will greatly push forward regional economic cooperation and consolidate contact with ASEAN nations. In the long run, it aims to make full use of the platforms offered by the China-ASEAN Expo and the China-Vietnam Border (Dongxing-Mong Cai) Commerce Trade and Tourism Fair to actively "go abroad" and "introduce overseas investment".

It will also actively accept economic radiation and industrial transfer from developed areas at home and abroad.

(China Daily 10/30/2007 page3)