More than 6,000 enterprises settle in Guangxi FTZ

A total of 6,426 new enterprises have been established since the construction of the China (Guangxi) Pilot Free Trade Zone began eight months ago, with the average number of registered enterprises per day reaching three times than before, the Construction Headquarters of Guangxi FTZ announced on May 8.

Last August, Guangxi FTZ was approved by the State Council to be officially established, covering the three areas of Nanning, Qinzhou Port, and Chongzuo, with a total area of 119.99 square kilometers. The FTZ aims to build a high-standard and high-quality free trade zone that leads China-ASEAN cooperation.

Among all the new enterprises, 1,254 settled in the Nanning area, accounting for 70 percent of the FTZ's total. To date, the Nanning area has attracted seven newly-established Fortune Global 500 companies and completed $47.78 million in actual use of foreign capital. Well-known digital economy companies like Alibaba, Huawei, 360, and HKUST have settled in it.

In addition, Guangxi FTZ has launched 41 reforms and innovations to reduce the administrative approval process and time, further optimizing its business environment. It also introduced 30 preferential measures, giving awards to enterprises engaged in the cross-border trade industry, commodity trading platforms, cross-border finance, cross-border logistics, and other fields according to their contribution to the local economy, as well as supporting the development of Fortune Global 500 enterprises and multinational companies.