The State-owned Assets Supervision and Administration Commission of the State Council (SASAC) and the Guangxi government held a video meeting on July 28, signing contracts on 78 projects with central enterprises, with a total investment of 549.6 billion yuan ($78.51 billion).

The conference set up its main venues in Beijing and Nanning, capital of Guangxi. It also set up branch venues in the headquarters of 72 central enterprises, as well as 14 cities and 71 counties in Guangxi. The contracts signings have been conducted on site and online.

The Guangxi government signed cooperation agreements with 30 central enterprise headquarters, including China Southern Power Grid, China Southern Airlines, and China General Nuclear Power Corporation. A total of 78 projects were signed between Guangxi and central enterprises, covering multiple industries and fields, spanning industrial, energy, infrastructure, and urban development projects.

The signing ceremony of projects between Guangxi and central enterprises. [Photo by Lin Hao/chinanews.com]

Hao Peng, director of the SASAC, said at the main venue in Beijing that Guangxi has huge development potential as it is the gateway for ASEAN countries and the land-sea junction of the New International Land-Sea Trade Corridor.

Hao also stressed that the SASAC supports central enterprises in making full use of their advantages in talents, technology, management, capital, and markets to actively participate in Guangxi's infrastructure construction, resource development, industrial structure adjustment, technology innovation, as well as the cultivation and development of strategic emerging industries.

In the future, Guangxi will optimize its business environment and provide the best services to jointly implement the signed projects with central enterprises, working together to promote the construction of major infrastructure projects to help Guangxi promote new urbanization and rural revitalization.

Since 2012, Guangxi has launched 293 major projects in cooperation with central enterprises, with a total investment of 604.3 billion yuan, which has effectively promoted the optimization and upgrading of Guangxi's industrial structure.