Guangxi opens new chapter with Pan-Beibu Gulf economic cooperation

Guangxi Zhuang autonomous region has been devoting continuous efforts to deepening cooperation with countries in the Pan-Beibu Gulf since the first Pan-Beibu Gulf Economic Cooperation Forum was held in 2006, achieving eye-catching outcomes.

Being the only region of its kind in China to border ASEAN countries by both land and sea, Guangxi has long been an active promoter, deep participant and direct beneficiary of the Pan-Beibu Gulf economic cooperation.

Guangxi's regional gross domestic product increased by 7.5 percent year-on-year in 2021 and achieved a two-year average growth of 5.6 percent. Its added value of industries above designated size climbed by 8.6 percent, and increases of the region's investment in fixed assets, total retail sales of consumer goods and total imports and exports of foreign trade each rose by 7.6 percent, 9 percent and 22.2 percent, respectively.

Nanning, an open financial gateway for ASEAN, has formulated 175 replicated outcomes and China-ASEAN Financial City has been home to more than 280 financial institutions and enterprises.

The Beibu Gulf Port in Guangxi has been speeding up construction and is now able to handle 300,000-metric-ton container shipments. It has now opened shipping routes to more than 200 ports in over 100 countries and regions, and 10 more foreign trade shipping routes are expected to become operational this year.

Guangxi's coastal areas have now become China's major manufacturing bases for non-ferrous metals, high-end petrochemicals, electronic information, the lighting industry and advanced equipment.