Guangxi attracts over 300b yuan investment in Q1

Guangxi Zhuang autonomous region attracted more than 300 billion yuan ($5 billion) in investment in the first quarter of 2022, with the capital in place exceeding 210 billion yuan as of March 29, both surpassing its stated goals.

These projects covered various major and emerging industries, such as advanced new materials, new energy, electronic information, biomedicine, as well as logistics. Among them, 18 are invested by unicorn, gazelle, specialized and special new "little giants," as well as industrial leading companies.

Unicorns are pre-IPO startups with at least $1 billion in market value, while gazelle companies are those with high growth.

Nearly 52 percent of the investment went to the manufacturing industry, with 30 projects having a single investment of over 1 billion yuan.

Ruipu Energy, which is under Tsingshan Group, signed a 55-billion-yuan project with Liuzhou to build two factories, which will achieve an annual power battery production capacity of 20 GWh.

Wuhan-based Topgene Biotechnology, a gazelle company, will invest in a research project on nervous system medicines in the Fangchenggang International Medical Opening-up Pilot Zone.

In addition, industry leader Lehe Food has signed with Hechi to set up a whole industrial chain project in Hechi's Donglan county featuring planting, breeding, deep processing. and logistics to boost the development of the local modern agricultural industry.