The Nanning municipal government and the Financial Supervision Administration of Guangxi Zhuang Autonomous Region announced the Construction Plan for the Financial Opening-up of the Nanning Core Area Gateway for ASEAN (2019-23) on July 7, 2019. As of the end of 2022, 98 percent of the project's construction had been completed.

The plan focused on Nanning establishing an insurance innovation comprehensive experimental pilot zone, as well as a green finance reform and innovation demonstration zone. It built a regional offshore RMB financial center, a regional currency transaction clearing center, as well as a cross-border investment and financing service center. It also established a financial back-office service base, a wealth management service base, a financial information service base, and a financial exchange training base.

In 2022, the annual cross-border RMB settlement in Guangxi exceeded 200 billion yuan ($29 billion) for the first time, and the total settlement volume reached 221.17 billion yuan. This showed a 20.23 percent increase year-on–year, which is 5.75 percentage points higher than the national level.

By the end of 2022, 48 branches of 14 banks in the financial innovation pilot area of the China-Malaysia Qinzhou Industrial Park had registered as pilot banks, with a total transaction amount of 21.31 billion yuan.

Guangxi has facilitated foreign exchange payments for enterprises, and implemented online registration for enterprises with foreign exchange payments for trade in goods. Guangxi will also implement of Qualified Foreign Limited Partner (QFLP) program in the China (Guangxi) Pilot Free Trade Zone (FTZ). Furthermore, Guangxi has promoted the facilitation of capital account income payments, which now ranks among the top five in China.

In 2022, Guangxi lent 9.93 billion yuan to enterprises for environmental protection, of which 2.82 billion yuan was utilized for low-carbon projects. By the end of 2022, Guangxi's green loan totaled 496.56 billion yuan, up 34.48 percent year on year.

The China-Malaysia Qinzhou Industrial Park. [Photo/WeChat account: gh_df8bc987e060]