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Guangxi trade, investment bolstered by RCEP




Updated: 2022-02-18

Guangxi's work conference for the promotion of international trade was held on Feb 14, in which it was determined that Guangxi Zhuang autonomous region's trade and investment promotion have been bolstered since the implementation of the Regional Comprehensive Economic Partnership on Jan 1.

Wei Ran, chairman of the China Council for the Promotion of International Trade's Guangxi committee (CCPIT Guangxi), said that by establishing 14 RCEP overseas enterprise service centers under the Guangxi Chamber of International Commerce, Guangxi has made extensive use of the advantages brought by the RCEP. Guangxi has provided comprehensive services for RCEP member companies to invest in Guangxi, while also helping Guangxi enterprises bolster their presence in international markets.

In January 2022, the RCEP Business Leaders Forum was held in Nanning, in which the RCEP Business Advisory Council was established. It helped Guangxi Automobile Group sign a contract with a Japanese company, making Guangxi's new energy vehicles enter the Japanese market for the first time. CCPIT Guangxi will follow up this cooperation agreement that serves the export of locally made new energy vehicles by finding more advantageous partners for the Guangxi automobile industry.

CCPIT Guangxi promotes the deepening of cooperation between Nanning and Qingdao in Shandong province, which is expected to entice Japanese and Korean companies in Qingdao to invest in Guangxi. It will also promote Yulin's spice and Chinese herbal medicine industries to the markets of RCEP member countries, as well as help expand exports of Wuzhou's Liubao tea through the RCEP.

It will also cooperate with AmCham China, the China-Australia Chamber of Commerce, the European Union Chamber of Commerce in China, IsCham China, and the China-Britain Business Council to organize a group of executives from Fortune 500 companies and industry leaders in China to explore investment opportunities in Guangxi.

In addition to being the year when the RCEP came into effect, 2022 is also the year when the construction of the 3.0 version of the China-ASEAN Free Trade Area will be fully launched. The 19th China-ASEAN Business and Investment Summit will also be held in Nanning in September.