The "Action Plan for Promoting the High-Quality Development of China (Guangxi) Pilot Free Trade Zone" has outlined the construction direction, reform focus, and key industries for the development of the Guangxi FTZ and its coordinated development areas from 2024 to 2026.

The plan is divided into three parts: advancing institutional opening, strengthening overall reform planning, and systematic integration. Key tasks include proposing 24 key initiatives in trade, investment, cross-border funds, transportation, and facilitating the movement of people.

It focuses on five cross-border industrial chains: new energy vehicles and parts, electronic information, processing of ASEAN characteristic products, petrochemicals, and new materials. It sets forth 16 key tasks to achieve the output value targets for each industrial chain, with a total output value reaching 321 billion yuan ($44.59 billion).

In addition, the plan aims to expedite the establishment of a first-class soft environment, proposing seven tasks, including optimizing management systems, promoting coordinated development, granting greater autonomy in reform, strengthening fiscal and taxation policy support, ensuring resource element guarantees, and enhancing risk prevention and control.

In 2024, Guangxi is set to implement the strategy to enhance the FTZ, with the core goal of "border-oriented, port-facing, and leading in free trade," aiming to create a core area for domestic and international dual-cycle market operations.

Women work on the production line. [Photo/WeChat account: gh_df8bc987e060]