The Nanning area of the China (Guangxi) Pilot Free Trade Zone (FTZ) continuously innovates to attract foreign-funded enterprises.

On Feb 24, a Singaporean enterprise named Buzz ARVR Pte (BuzzAR) signed a strategic cooperation agreement with Cloud Baby Big Data Industry Development (Cloud Baby). The two sides will work together to upgrade cooperation in technology transfer, industrial incubation and market expansion. They will also give full play to the advantages of China-Singapore technology cooperation, as well as introduce and integrate new resources.

BuzzAR offers the development and application of AI, AR, VR, games and virtual engines. Bell Beh, CEO of the BuzzAR, said that the Nanning area of the Guangxi FTZ has a superior geographical location, is close to ASEAN countries, and has a good investment environment. Staff services in the Nanning area of the Guangxi FTZ are also very good, and provide companies with services such as preferential enterprise policies, publicity, industrial and commercial registration, and a selection of office locations.

In 2020, BuzzAR participated in the third China-ASEAN Collaborative Innovation Competition for New Smart Cities and won second prize in the comprehensive group. In March 2021, BuzzAR established its wholly-owned subsidiary named Guangxi Boyue Dance Technology in Nanning.

BuzzAR will explore innovative application scenarios in digital cities and consumption models in the metaverse, deepen cooperation with Cloud Baby, and leverage BuzzAR's technological advantages to create a more attractive and competitive consumption environment for people.

In 2022, there were 128 new foreign-funded enterprises in the Nanning area of the Guangxi FTZ, reaching 106.67 percent of the area's annual target. Moreover, 125.53 percent of the area's annual targets were accomplished by utilizing foreign capital.

The Nanning area of the Guangxi FTZ. [Photo/WeChat account: gh_df8bc987e060]