As of the first quarter of 2022, China (Guangxi) Pilot Free Trade Zone (FTZ) has fully implemented the 120 reform tasks, becoming the second province after Heilongjiang province to fully implement their reform tasks in the same batch of pilot free trade zones.

The Guangxi FTZ has implemented the country's first land port of departure tax rebate pilot policy, while Youyiguan Port has become the only port among the country's border ports with Vietnam to operate continuously.

Guangxi has formed two batches of 84 autonomous region-level system innovation achievements and promoted them. In addition, seven innovative measures have been approved and filed by Guangxi, ranking at the forefront among customs agencies in the country.

As of July 2022, a total of 76,000 enterprises have settled in the Guangxi FTZ, 20 times the number before its establishment. The Guangxi FTZ has accumulated 35.6 percent of the area's actual use of foreign capital, as well as 34 percent of the foreign trade import and export volume while covering less than 0.05 percent of the land area of Guangxi Zhuang autonomous region. It has also attracted 57 Fortune Global 500 companies and top 500 Chinese companies.

In terms of investment promotion and landing projects, the Guangxi FTZ has achieved 53.5 percent of the actual use of foreign capital in Guangxi in the first half of this year. Many leading companies have settled there, including Huayi, Tencent, and Huawei.

The Guangxi FTZ will cooperate with ASEAN to promote institutional innovation and lead Guangxi's high-level opening up and high-quality development.

Guangxi FTZ. [Photo/WeChat account: gh_df8bc987e060]