As of the first half of 2022, the 94 reform pilot tasks undertaken by the Qinzhou area of the China (Guangxi) Pilot Free Trade Zone (FTZ) have been implemented and continued to be advanced.

Over the past three years, the Qinzhou Port area of the Guangxi FTZ has promoted reform and innovation, accumulating more than 100 institutional innovation achievements.

Qinzhou Port. [Photo/Guangxi News]

The ternary precursor production line of CNGR is expected to be completed in November 2022. It is expected to generate an annual output value of about 18 billion yuan ($2.66 billion) and annual tax revenue of about 500 million yuan, while providing more than 3,000 employment opportunities for local residents.

The Qinzhou Port area is building a new chemical material industry cluster, as well as four characteristic industries of 50 to 200 billion yuan, covering new energy and new materials, equipment manufacturing, as well as electronic information.

At present, Qinzhou has more than 120 industrial projects in operation or under construction, with a total investment of more than 280 billion yuan. There are also 700 potential industrial chain projects, with a total investment of about 200 billion yuan. After the projects are put into operation, the output value is expected to exceed 1 trillion yuan.

In addition, the formal implementation of the Regional Comprehensive Economic Partnership on Jan 1, 2022 has provided opportunities to enterprises. For example, Guangxi Jingui Pulp & Paper obtained the first RCEP certificate of origin issued by Qinzhou Customs for its paper products exported to Thailand on the day that the RCEP took effect. It also became the first RCEP-approved export in Qinzhou in April 2022. This means that the company can independently issue the RCEP declaration of origin, which does not need to be reviewed and issued by the customs for each ticket, as well as can go through the procedures for the certificate of origin, which is faster and more convenient.

Paper machine production lines of Guangxi Jingui Pulp & Paper. [Photo/Guangxi News]