Guangxi FTZ institutes innovation and reform

A total of 120 reform pilot tasks in the China (Guangxi) Pilot Free Trade Zone (FTZ) have been fully implemented, while 84 autonomous region-level institutional innovations have been formed and promoted in Guangxi.

The five innovative measures of the Guangxi FTZ have been approved and filed by the General Administration of Customs, with the number of achievements ranking second among the 21 pilot free trade zones in China.

In addition, Guangxi was the second place after Heilongjiang to fully implement the national reform pilot task among pilot free trade zones in its group.

Focusing on the three major characteristics of facing ASEAN, new land-sea corridors, and border opening, the Guangxi FTZ has continued to carry out institutional innovation.

Guangxi FTZ will give full play to its unique advantages facing ASEAN and accelerate the construction of a new center of opening up. It also focuses on the cross-regional use of RMB in ASEAN, while also carrying out five pilot financial innovation businesses in the China-Malaysia Qinzhou Industrial Park.

Guangxi FTZ has innovated its customs clearance mode, with its level of cross-border trade facilitation continuously improving. Last year, the overall customs clearance time of Guangxi border ports ranked first among the country's border areas.

The government affairs environment of the Guangxi FTZ has been further optimized, and the effect of its industrial agglomeration has continued to emerge. As of April 2022, the total number of newly-established enterprises in the Guangxi FTZ exceeded 67,000, which is 18 times that before its establishment. It has also attracted 57 Fortune Global 500 and top 500 Chinese companies, including famous companies like Huayi, Tencent, and Huawei.

Guangxi FTZ. [Photo/WeChat account: gh_df8bc987e060]