China-ASEAN Industrial Cooperation Zone aims high in investment attraction
The 100-day campaign is announced during a Sept 22 conference. [Photo by Lin Hao/China News Service]
The China-ASEAN Industrial Cooperation Zone in Guangxi Zhuang autonomous region will attract key projects, organize investment promotion activities, and connect with targeted enterprises in a 100-day campaign from late September to the end of 2023, officials announced on Sept 22.
This campaign is seen as an important step in promoting cross-border industrial cooperation between China and ASEAN, as well as facilitating the transfer of industries from eastern regions to Guangxi and promoting stable investment growth.
The Implementation Plan for the Construction of the China-ASEAN Industrial Cooperation Zone issued by Guangxi has set the goal of forming industrial clusters of areas such as electronic information and new energy vehicles and parts with a total added value of over 500 billion yuan ($69 billion) by 2025. By the end of this year, the zone is expected to attract at least 10 target enterprises with investments of over 100 million yuan each.
Guangxi has leveraged its advantages as a border region and integrated and optimized existing industrial parks in Nanning, Beihai, Fangchenggang, Qinzhou, Yulin, Baise and Chongzuo to build the China-ASEAN Industrial Cooperation Zone. The initial planned area of the zone is about 80 square kilometers and the zone's total area is set to reach nearly 600 sq km.
Main industries in the zone include electronic information, NEV and parts, petrochemicals, equipment manufacturing, new materials, textiles and garments, appliances and home furnishings, toys and ornaments, commerce and logistics.
The zone is expected to build a cross-border industrial and supply chain that serves the ASEAN market and to create a convenient domestic and international dual-cycle market operation platform.