Aerial photo taken on Nov. 8, 2019 shows the Nanning Area of China (Guangxi) Pilot Free Trade Zone in south China's Guangxi Zhuang Autonomous Region. (Xinhua/Qin Guanghua)
BEIJING, May 5 (Xinhua) -- China (Guangxi) Pilot Free Trade Zone (FTZ), or Guangxi Pilot FTZ, in south China's Guangxi Zhuang Autonomous Region saw 7,294 newly established enterprises in the first quarter of 2022, up 15 percent year on year, with the actual use of foreign capital reaching 69.29 million U.S. dollars, according to Yang Chunting, chief of the Guangxi Zhuang Autonomous Region's Department of Commerce.
Since the official launch in August 2019, the pilot FTZ has made bold reforms in many areas, including the transformation of government functions, investment and trade facilitation, customs clearance facilitation, financial opening-up and the development of modern service industry, Yang said.
To seize the opportunity brought by the Regional Comprehensive Economic Partnership (RCEP), Guangxi Pilot FTZ has promoted innovation in import trade, explored the development of bonded maintenance business, cross-border e-commerce retail of imported drugs and other businesses, and made every effort to speed up the construction of Beibu Gulf Port as the international gateway.
In the first quarter of this year, the growth rate of industrial investment in Nanning area of Guangxi Pilot FTZ reached 207.1 percent with 8 electronic information industry projects signed such as the first phase of Nanning Tigo Semiconductor Storage research and development base, according to Yang.
By March 31, the number of newly established enterprises in Guangxi Pilot FTZ had exceeded 60,000.
(Edited by Gao Jingyan with Xinhua Silk Road, gaojingyan@xinhua.org)
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