In the first quarter of the year, the Nanning area of the China (Guangxi) Pilot Free Trade Zone (FTZ) made 28 institutional innovations, enabling the area to accelerate the construction of a cross-border industrial chain, supply chain, and value chain oriented to ASEAN, which have propelled its rapid development.

The Nanning area of the Guangxi FTZ has implemented the reform of enterprise identity codes, in which relevant information is loaded onto the enterprise business license through the enterprise identity code, enabling enterprises to engage in relevant licensed operations with their business licenses.

In the past, enterprises had to go through multiple steps to do this. Now, enterprises only need to apply for the relevant license while applying for their business license, ensuring that everything can be done at the same time.

On April 18, the National Industrial Information Security Development Research Center selected the "industrial internet + supply chain collaboration solution” of Guangxi Fantang Technology, an enterprise based in the Nanning area of the Guangxi FTZ, as a typical case of digital transformation for small and medium-sized enterprises in 2021, which was the only case selected from Guangxi.

In addition, Guangxi Pan Sugar Technology achieved strong results after focusing on the digital industrialization of the sucrose industry. Last year, it reduced the procurement costs by nearly 20 million yuan ($3 million) and increased its economic benefits by more than 50 million yuan.

In the future, with the in-depth implementation of the Regional Comprehensive Economic Partnership, the Nanning area of the Guangxi FTZ will make use of its broader development prospects by continuing to carry out institutional innovation to promote economic development.

The Nanning area of the Guangxi FTZ. [Photo/WeChat account: gh_df8bc987e060]