Guangxi rewards cities with outstanding investment attraction

In order to bolster and incentivize investment promotion efforts in Guangxi Zhuang autonomous region, the Guangxi Finance Department has allocated 39 million yuan ($5.51 million) to reward cities with outstanding results in attracting investment in 2019.

According to the results of the 2019 annual evaluation, the top six cities in the evaluation of industry investment, which are Nanning, Guigang, Beihai, Chongzuo, Guilin, and Yulin, have been rewarded 6.5 million yuan, 5.5 million yuan, 4.5 million yuan, 3.5 million yuan, 2.5 million yuan, and 1.5 million yuan respectively.

In addition, Nanning, Baise, Qinzhou, Guigang, and Beihai, the top five cities in the evaluation of actual utilization of foreign capital, have obtained a 5 million yuan, 4 million yuan, 3 million yuan, 2 million yuan, and 1 million yuan bonus respectively.

The cities that were awarded have achieved outstanding results in industry investment promotion in 2019. The actual funds in place in the top six cities amounted to 408.27 billion yuan, accounting for 48 percent of Guangxi's total, with an average year-on-year growth 1.6 percentage points higher than that of the whole region. The six cities have also introduced a large number of high-quality projects, making great contributions to the economic and social development of Guangxi.

The incentive funds are required to be earmarked for working expenses of investment promotion or foreign capital utilization.