China (Guangxi) Pilot Free Trade Zone in China continues to deepen its institutional opening collaboration with ASEAN, facilitating the rapid development of surrounding industries.

The China-ASEAN Free Trade Area and Guangxi FTZ have become components of the global industrial chain. As of October 2023, Guangxi FTZ has achieved a cumulative total of 936.23 billion yuan ($131.6 billion) in foreign trade imports and exports and attracted actual foreign investment of $1.53 billion.

China and ASEAN Information Habor. [Photo/WeChat account: gh_df8bc987e060]

Guangxi FTZ aligns with international high-standard economic and trade rules to establish a higher standard of investment and trade liberalization and facilitation. The zone has enhanced infrastructure and cross-border trade facilitation through hard and soft connectivity, including innovative measures in the Qinzhou Port area. With a solid foundation of cooperation with ASEAN, Guangxi possesses enormous development potential.

China and ASEAN continuously upgrade their economic and trade cooperation, forming a deep division of labor in industries. With the advancement of the Belt and Road Initiative and the Regional Comprehensive Economic Partnership (RCEP) implementation, the regional industrial chains between China and ASEAN will further integrate, leading to breakthroughs in institutional opening cooperation.

Guangxi FTZ provides better services for the national and regional development strategy through cooperation mechanisms targeting ASEAN.

The development of Guangxi FTZ will further promote economic and trade cooperation between China and ASEAN, driving mutual prosperity and growth.

Guangxi FTZ. [Photo/WeChat account: gh_df8bc987e060]