Guangxi's foreign trade volume surges in Jan-Sept
Trucks entering and leaving the customs shuttled endlessly in the customs area of the Pingxiang comprehensive bonded zone. [Photo by Zhou Jun/Guangxi Daily]
The total import and export value of Guangxi Zhuang autonomous region in the first three quarters of 2021 increased by 29.3 percent year-on-year to 444.59 billion yuan ($69.42 billion), officials announced during a press conference on Nov 2.
The region ranked 14th in China and third in West China in terms of foreign trade volume during the same time period.
The growth rate of Guangxi's foreign trade during the January to September period was 6.6 percentage points higher than the national level and 6.4 percentage points higher than the average level of West China.
Its export volume was 219.62 billion yuan while the figure for imports was 224.97 billion yuan with each up 17.2 percent and 43.8 percent year on year.
In the first three quarters of 2021, there were 385 new foreign-invested enterprises set up in Guangxi, expanding by 32.3 percent. Its contractual foreign investment grew by 56.7 percent year on year to $4.7 billion and the utilization of foreign capital in the manufacturing industry increased by 51.6 percent.
Guangxi promotes a pilot program for the processing of imported goods for border trade. In the first three quarters of 2021, Guangxi's border trade import and export amounted to 115.52 billion yuan, an increase of 18.1 percent. Its border trade scale ranked first in China.
Guangxi's foreign trade structure has been continuously optimized, and the imports and exports of mechanical and electrical products and high-tech products have increased. In the first three quarters of 2021, Guangxi's auto exports were 5.47 billion yuan, surging 200.2 percent and auto parts exports were 3.62 billion yuan, up 47.4 percent.
Guangxi has been expanding the scale of processing trade enterprises and promoting the development of trade processing. In the first three quarters of 2021, Guangxi's trade processing of imports and exports amounted to 82.8 billion yuan, an increase of 20.2 percent.
The Nanning and Chongzuo areas of the China (Guangxi) Pilot Free Trade Zone completed a total of 6.68 billion yuan in cross-border e-commerce import and export transactions, which is a year-on-year increase of 421.4 percent, and the areas also exported 1.54 billion yuan in the form of market procurement trade.