In the first five months of the year, the Qinzhou Port area of the China (Guangxi) Pilot Free Trade Zone attracted 7.3 billion yuan ($1 billion) in industrial investment, a year-on-year increase of 42 percent.

In this period, the output value of the industrial enterprises above designated size, referring to those companies with an annual turnover of over 20 billion yuan, in the Qinzhou Port area of the Guangxi FTZ reached 47.55 billion yuan, a year-on-year increase of 44.7 percent.

Since the CNGR Southern Industrial Base project started last year, the company has invested more than 4 billion yuan in fixed assets, as well as built six 15,000-metric-ton ternary precursor production lines and industry-leading nickel sulfate production lines. It is expected that the output value of the company will exceed 2 billion yuan in the first half of this year.

In the first five months of the year, the Guangxi branch of PetroChina processed 3.84 million tons of crude oil, produced 3.6 million tons of various products, achieved an industrial output value of 24.7 billion yuan, decreased carbon emissions by 2.6 percent, as well as achieved 32,000 tons in carbon emission reductions.

The Qinzhou Port area of the Guangxi FTZ will expand and strengthen a green chemical industry cluster with an output value of over 100 billion yuan, as well as create a national-level petrochemical industry base for ASEAN that serves the Southwest China.

The CNGR Southern Industrial Base project. [Photo/WeChat account: gh_df8bc987e060]