China (Guangxi) Pilot Free Trade Zone is among the country's 21 pilot free trade zones that will continue to promote institutional opening-up measures, leading and driving the country's high-level opening-up efforts in 2022.

On Jan 1, the negative list for foreign investment access was reduced for the seventh time, with the number of items on it cut from 190 to 27. As a result, it has realized the full liberalization of the manufacturing industry in pilot free trade zones. At the same time, the relaxation of access restrictions in service industries, such as market research, will be explored to accumulate experience for further opening up in fields like telecommunications and medical services.

To optimize its business environment by reducing the operating costs of enterprises, China (Guangxi) Pilot Free Trade Zone will exempt enterprises registered in the zone from local water conservancy construction funds this year. In January, 2,075 enterprises were newly established in the zone, completing 10 percent of the annual task.

The relevant person in charge of the Ministry of Commerce said that pilot free trade zones will continue to play a leading role in the country's economic development by continuing to further its reform, opening up, and innovation efforts, with the goal of fostering institutional innovation achievements and build world-leading industrial clusters.

At present, China's pilot trade zones are focusing on making full use of the dividends brought by the Regional Comprehensive Economic Partnership (RCEP), which was officially implemented on Jan 1, accelerating institutional innovation and fully enjoying the benefits brought by the world's largest free trade agreement.

The Ministry of Commerce will help free trade zones and free trade ports meet international high-standard economic and trade rules. It will also promote high-level institutional opening up and issue a negative list of cross-border service trade in free trade zones.