Guangxi approves measures to attract foreign investment

South China's Guangxi Zhuang autonomous region released 16 measures to promote the region's foreign capital utilization, according to a news conference convened by the Guangxi Investment Promotion Agency on May 11.

Guangxi will further expand market access for foreign investment, and encourage foreign investment on some key industries, including big health, big data, international logistics, modern manufacturing, new materials, and new energy resources. The region will also give support to those projects with a contractual foreign investment of over $15 million, and offer a 500,000 yuan ($72,933) bonus to the newly established foreign enterprises with an actual investment of $5 million or above.  

At the same time, Guangxi will push forward the approval of the China (Guangxi) Pilot Free Trade Zone (FTZ), and pave the way for national economic and technological development zones as well as high-tech industrial development zones to carry out relevant pilot reforms of the FTZ. The region is also expected to make full use of export-oriented platforms, like industrial parks and special customs control zones, to set up a main front for utilizing foreign investment.

In addition, a host of investment promotion activities will be staged to promote the Guangxi brand. The region will carry out targeted investment promotion activities aimed at Hong Kong, Macao, Taiwan, ASEAN countries, Europe, America, Japan, South Korea, Australia, and New Zealand to build a globalizing investment promotion service network.

The region will also strive to create a better and more efficient business environment. It is expected that a single window for integrated services of international trade and business will be set up throughout the region soon. The government will also launch service activities for foreign-owned enterprises to keep track of their status and their development.