Guangxi FTZ shows growth in 2022
In 2022, the China (Guangxi) Pilot Free Trade Zone (FTZ) accounted for 57 percent of the foreign investment and 42 percent of all imports and exports in Guangxi Zhuang autonomous region.
From January to November 2022, the Guangxi FTZ utilized $660 million in foreign investment, the total volume of foreign trade reached 250.4 billion yuan, and 28,667 new enterprises were established. By November 2022, more than 85,000 enterprises had settled in the pilot free trade zone, which is 23 times the number before its establishment.
From January to November 2022, the total value of enterprises above designated size in the Guangxi FTZ reached 88.85 billion yuan, up 35.2 percent year on year. The tax revenue reached 12.4 billion yuan ($13.3 billion), up 46.5 percent year on year.
From January to November 2022, the import and export volume of cross-border e-commerce in the Guangxi FTZ reached 14.84 billion yuan, up 71.2 percent year on year.
In addition, the Nanning area of the Guangxi FTZ has accelerated the construction of China-ASEAN Financial City. This project is estimated to include more than 13,000 enterprises and six Qualified Overseas Limited partner (QFLP) funds.
The Qinzhou Port area of the Guangxi FTZ implemented the expansion project of Jingui chemical pulp, which has an annual output of 750,000 metric tons and a total investment of 2.1 billion yuan.
The China-Asean Economic and Trade Center has hosted more than 40 organizations from 9 countries including Brunei, Indonesia and Malaysia.
Guangxi FTZ. [Photo/WeChat account: gh_df8bc987e060]