The People's Government of Guangxi Zhuang Autonomous Region recently issued measures to deepen the reform and opening-up of the China (Guangxi) Pilot Free Trade Zone (FTZ).

From 2023 to 2025, Guangxi plans to further promote the facilitation of investment, trade, cross-border capital, transportation, and resources in the Guangxi FTZ.

During this period, the Guangxi FTZ will strive to double the number of its enterprises and achieve higher quality development. Its total industrial output value above designated size is expected to reach 320 billion yuan ($47 billion), while its tax revenue will reach 30 billion yuan. In addition, the actual use of foreign capital, the total amount of foreign trade, as well as total imports and export will account for more than 40 percent of the whole region's totals respectively.

The Guangxi FTZ will also increase efforts to broaden the implementation of Regional Comprehensive Economic Partnership (RCEP) rules. It will accelerate the exploration of institutional opening-up, strengthen synergy of policies, rules, and standards with other RCEP member countries, as well as boost cooperation on trade in services.

The zone will enhance its capacity to adapt to the Comprehensive and Progressive Trans-Pacific Partnership (CPTPP) and explore institutional innovation in key areas, such as investment access, trade in services, financial openness, digital economy, as well as government procurement.

It will implement the management system of pre-establishment national treatment plus a negative list for foreign investment. It will also enhance the marketization and law-based internationalization of its business environment, upgrade trade transformation and upgrading, as well as foster and expand enterprises serving as supply chain service platforms.

It will speed up the construction of smart ports, support the construction of a China-Vietnam cross-border industrial chain guarantee channel focusing on the electronic information industry, as well as explore the intelligent and automated China-Vietnam cross-border unmanned transportation mode and 24-hour unmanned intelligent customs clearance system.

Guangxi FTZ. [Photo/WeChat account: gh_df8bc987e060]