Guangxi FTZ boosts innovative project development

In order to build a high-standard and high-quality free trade zone that further strengthens China-ASEAN cooperation, the China (Guangxi) Pilot Free Trade Zone (FTZ) plans to promote the construction of 30 innovative demonstration projects within the next three years.

Guangxi FTZ will build a trade and investment center for ASEAN (Association of Southeast Asian Nations), developing bulk transactions with ASEAN in commodities such as coal, iron ore, non-ferrous metals, rubber, palm oil, agricultural and marine products, as well as creating platforms that can provide one-stop services such as international consulting, training, legal affairs, accounting, taxation, and talents.

The construction of China-ASEAN Financial City will be accelerated, to carry out cross-border financial innovation pilots and promote the regional listing of the RMB and ASEAN currencies through the inter-bank market.

Guangxi FTZ will extend the China-Vietnam railroad via Youyi Port to the important western cities of China, promote the mutual recognition of vehicle license plates for cross-border transportation, and standardize the pilot program for foreign labor in border areas. It will also strive to develop the port petrochemical industry towards ASEAN by introducing a number of leading projects.

In order to develop a modern services industry, the FTZ will strengthen cooperation with ASEAN countries in Beidou navigation, big data, artificial intelligence and other industries, accelerate the promotion of the China-ASEAN Information Port, and explore the construction of an international art exhibition and trading center.

In addition, the Guangxi FTZ will speed up the construction of a new gateway port for a land-sea trade corridor in the western region; integrate and optimize the Beibu Gulf Port shipping service resources; build a transport system based on sea-rail combined transport; and plan to set up railway container return points in major ports in ASEAN countries.