Guangxi officials expect a 3% regional GDP growth in 2020

Guangxi has implemented a series of "unconventional measures" to achieve socio-economic development while dealing with the COVID-19 pandemic over the past year, said Lu Xinshe, Party secretary of Guangxi Zhuang autonomous region, at Guangxi's economic work conference on Dec 29.

Guangxi has achieved its goal of doubling its 2010 GDP and resident's per capita disposal income by the end of 2020 - one year earlier than scheduled. The region has also finished the task of poverty alleviation in 2020, with the historical eradication of absolute poverty.

Lu said that Guangxi's GDP in 2020 is estimated to maintain a 3-percent annual growth, as Guangxi's economy saw a revival in the first quarter and regional economic growth turned from negative to positive in the second quarter of 2020.

Fruitful outcomes have also been achieved in cultivating new growth drivers. The revenue of Guangxi's software and information technology service industry has increased by nearly 70 percent year-on-year and the export volume of Guangxi's high-tech products climbed by 21 percent year-on-year in 2020. 

New business avenues such as the application of 5G, live-streaming and online education have gained great momentum in 2020. 

Being the frontier for China-ASEAN communication and cooperation, Guangxi has made great breakthroughs in further opening up to the outside world. A total of 17,000 companies were newly set up in the China (Guangxi) Pilot Free Trade Zone and a number of 15 institutional achievements that can be replicated and promoted were formed during the construction of the open financial gateway for ASEAN in Guangxi.

Lu added that efforts will also be made in areas spanning boosting the development of new economic drivers, optimizing industrial structures, and increasing the proportion of the manufacturing industry in 2021, as the year marks the launch of the 14th Five-Year Plan (2021-25).

The region will make full use of its unique geographical location to seek areas of convergence in the new dual circulation development paradigm, which has domestic circulation as the main driver, with domestic and international circulations reinforcing each other. It will strive to become a leading area for cooperation with ASEAN and the Belt and Road.

Lan Tianli, acting chairman of Guangxi Zhuang autonomous region, said that Guangxi will finish a total of 120 demonstrative reform projects within the high-standard construction of Guangxi FTZ and try to promote more institutional achievements countrywide. 

Guangxi will push forward the construction of a batch of major innovative demonstrative projects, such as the China-ASEAN economic and trade center, to further attract major industries including high-end electronic information, modern finance and intelligent logistics.

The service capacity of Beibu Gulf International Gateway Port will be increased in line with national major coastal ports. It is expected that the container throughput of the Beibu Gulf International Gateway Port will reach 6 million twenty-foot equivalent units (TEU) in 2021 and the number of sea-rail intermodal freight trains conducted will exceed 6,000.

Lan added that Guangxi will further revive border trade within the context of COVID-19 pandemic prevention and control.

In addition, more matchmaking initiatives will be taken by Guangxi with the Guangdong-Hong Kong-Macao Greater Bay Area in areas spanning transportation, industry and technology.