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Guangxi rising as efficient trade portal to world

By Shi Ruipeng in Nanning and Chen Meiling in Beijing | | Updated: 2021-03-08 21:14
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The China (Guangxi) Pilot Free Trade Zone, since launched in 2019, has attracted about 19,000 companies from home and abroad. [Photo by Lai Youguang /for]

Trade with ASEAN

As the region of China nearest to ASEAN members, Guangxi has been a major partner for the organization's 10 member states, offering quicker response times and innovative, preferential policies involving China-ASEAN cooperation.

The China-ASEAN Expo and the China-ASEAN Business and Investment Summit have been held 17 times in Nanning, Guangxi, and have become the most influential events for China-ASEAN trade. Besides offline gatherings, an online expo is held throughout the year to better address trade demands.

About 19,000 companies from home and abroad have come to the China (Guangxi) Pilot Free Trade Zone — launched in 2019 —as of the end of last year. Imports and exports reached 158 billion yuan last year, with 33 percent of that in Guangxi.

In the future, the zone will deepen its cooperation with ASEAN member states in customs clearances, certification, accreditation and standards of measurement, and plans to add more leading companies in high-end manufacturing, modern services and cross-border cooperation, the local government said.

It will also enhance financial openness with ASEAN by developing cross-border settlement of RMB, accelerating collaboration in the digital economy through the China-ASEAN Information Harbor and jointly constructing overseas industrial parks.

"Guangxi borders ASEAN on land and sea, and it has a unique advantage for opening-up by linking 11 countries and boosting exchanges," Lan said. "Guangxi is capable of playing a bigger role in boosting the BRI, and we will stick to a development strategy driven by opening to the world."

In the 14th Five-Year Plan period, Guangxi will continue to construct the New International Land-Sea Trade Corridor, upgrade all platforms related to opening-up, better serve the BRI with a focus on ASEAN and provide a new growth engine for development of China's western regions, he said.

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