Chongzuo area of the Guangxi FTZ aims to benefit from RCEP

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(chinadaily.com.cn)

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Updated: 2022-03-04

Since the Regional Comprehensive Economic Partnership (RCEP) came into effect on Jan 1, the Chongzhuo area of the China (Guangxi) Pilot Free Trade Zone has been implementing measures to make use of the world's largest free trade agreement.

"The RCEP is conducive to expanding the scale of foreign trade in the area," said Huang Manqiang, deputy director of the institutional innovation bureau of the Chongzuo area management committee, adding that RCEP customs clearance facilitation measures can be used to release express and perishable goods within six hours of arrival, while enterprises in the region can make more use of original materials in the region to build a tighter and more resilient industrial chain and supply chain.

The Pingxiang Comprehensive Bonded Zone in the Chongzuo area of the China (Guangxi) Pilot Free Trade Zone (FTZ) is already the only industrial park in Guangxi Zhuang autonomous region with a trading volume exceeding 100 billion yuan ($15.85 billion) for seven consecutive years.

In 2021, the Pingxiang Comprehensive Bonded Zone imported and exported 101.54 billion yuan in the form of bonded logistics, with a year-on-year increase of 42.7 percent, accounting for 71.5 percent of the whole area and driving the strong growth momentum of foreign trade.

Attracted to the zone's bonded logistics and warehousing policy advantages, Guangxi Dingyi Supply Chain settled in Pingxiang Comprehensive Bonded Zone. It has built an international land transportation route for Foxconn and Luxshare Precision that facilitates the transportation of Apple mobile phone accessories from its factory in Shenzhen to its Vietnam branch in only 72 years. Although the logistics chain has been running smoothly for five years, the company expects to bolster its business through the RCEP. Since Jan 1, the company's bonded logistics value has reached 1.26 billion yuan.

The Chongzuo area of the Guangxi FTZ has made use of its advantageous location by building an international channel connecting China and ASEAN, accelerating its integration into the RCEP. At present, it has opened 22 cross-border highway logistics lines and 13 cross-border railway trains, reaching more than 20 major hub cities in ASEAN countries.

In January, the import and export cargo volume of Guangxi Pingxiang Railway Port was 87,000 metric tons, a year-on-year increase of 54.4 percent. There were also 274 inbound and outbound cargo trains in that period, a year-on-year increase of 55.7 percent.

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Workers in a production workshop in Pingxiang. [Photo/WeChat account: gh_df8bc987e060]